The Reserve Bank of India (RBI) has warned people against fraudulent activities in its name. The central bank asked people not to share their account login details, OTP or KYC documents with unknown persons. RBI said in a statement on Thursday that it has come to its notice that some elements involved in the mess are using various methods to deceive the public using its name. RBI has also listed various modus operandi adopted by fraudsters.

Fake emails are used

Fraudsters use fake letterheads and fake email addresses of RBI, claiming to be employees of the central bank, and trap people with fake offers like winning lottery, money transfer, foreign remittance and government schemes. Money is taken from the targeted victims in the form of currency processing fees, transfer/remittance/processing fees. The central bank said that another trick that has come to our attention. Fraudsters approach small/medium businesses posing as government/RBI officials and asking them to pay ‘security deposits’ under the guise of a government contract or scheme by promising lucrative payments.

Also adopt intimidation tactics

RBI said that fraudsters also adopt intimidation tactics, in which victims are contacted through IVR calls, SMS and emails. They introduce themselves as RBI officials and threaten to freeze/block/deactivate the recipients’ bank accounts and persuade or force them to share some personal details or install some unauthorized/unverified applications using the link provided in the communication. RBI said that it has come to know about some websites and apps, which include entities like unauthorized digital lending apps and other alleged financial service providers. The central bank advised the public to report suspicious communications to law enforcement agencies.