State Bank of India (SBI), the country's leading state run bank via its official twitter handle State Bank of India@ The OfficialSBI has alerted its customers against fake KYC update links. In the same tweet, the bank has listed out 3 safety tips:
1. Think before you click any link
2. Bank never sends links to update KYC
3. Don't share your mobile and confidential data with anyone
KYC fraud is real, and it has proliferated across the country. The fraudster sends a text message pretending to be a bank/company representative to get your personal details. Report such cybercrimes here: https://t.co/3Dh42ifaDJ#SBI #StateBankOfIndia #CyberCrimeAlert #StaySafe pic.twitter.com/VpODvKp1FD— State Bank of India (@TheOfficialSBI) June 15, 2021
What is KYC Fraud?
KYC fraud is a fraud wherein fraudsters on a false premise of completing KYC verification of bank customers either over a call or through an SMS or some link try to capture the confidential details of the customer.
The constant alerts by SBI are being issued in the wake of rising online frauds. Elaborating on how the KYC fraud is being executed and its gaining prominence in India, SBI tweeted, "KYC fraud is real, and it has proliferated across the country. The fraudster sends a text message pretending to be a bank/company representative to get your personal details".
How to report such cybercrime incidents?
In the same tweet, SBI has asked to report such fraudulent incidents on cybercrime.gov.in. Also, on noticing any unauthorised transactions in their SBI bank account, customers need to immediately report the same on the bank's toll free customer care helpline numbers - 18004253800, 1800112211.
How is KYC updation done at SBI in case your bank account had been dormant/inactive for a while?
KYC updation is a regular requirement of banks and is duly needed in case your bank account with the bank has remained dormant.
As a personal experience with SBI, for the KYC compliance, the bank required one duly signed Aadhaar and PAN copy together with a photograph of the bank account holder.
Also, there will be a biometric scan done. For the same you will have to place your thumb on the device which will scan your biometrics.
Furthermore, if your SBI bank account was in an inactive state then one withdrawal transaction is also required to be made from the bank branch itself.
Also, amid the localized lockdowns put in place to reduce the impact of the coronavirus second wave, SBI began to accept documents for KYC updation via mail or post.