SBI Customers Alert! Bank warns people against KYC frauds: Here's how to remain safe

New Delhi: The State Bank of India releases advice on a regular basis, warning its customers against fraudulent attempts. In retrospect, the expansion of technology has created a plethora of new avenues for scammers to steal information and money from clients.

As a result, SBI has redesigned its advice system to make the consumers more informed and mindful of the different ways they can be scammed as part of their "Yeh Wrong Number Hai" effort. SBI has reminded its customers not to click on embedded links in text messages requesting them to update their account information.

SBI also displayed one of the text messages used to carry out fraudulent actions. The SMS from SBI said, "Dear client, Your SBI Bank documents are no longer valid. Within 24 hours, your account will be blocked. Please update your KYC on the URL provided." Then, to expose the scam, SBI wrote in the digital notice, "SBI never invites you to update/complete your KYC by clicking on links embedded in an SMS." Maintain vigilance and safety."

The tweet included hashtags like '#YehWrongNumberHai,' '#SafeWithSBI,' and '#AmritMahotsav.' The tweet's caption states, "Here is an example of #YehWrongNumberHai, KYC fraud." Such SMS can result in fraud and the loss of your savings. Clicking on embedded links is not recommended. When you receive an SMS, look for the correct SB shortcode. "Remain vigilant and #SafeWithSBI."

The embedded links in the text messages that mimic State Bank of India service notifications are cryptic URLs that allow unscrupulous scammers to access the customer's account details. As a result, they discover a channel through which they can exchange large sums of money.

A similar warning was given a few days ago. It was about frauds involving OTP (One-time Password), in which fraudsters obtain OTP from consumers and subsequently swindle them. "DO NOT SHARE YOUR OTP WITH A STRANGER OR WITH ANYONE ASKING FOR A VERIFICATION CODE FOR ANY REASON." "It could be a scam," according to the digital advisory.

With these advisories flashing at consumers, the bank expects them to be more cautious and to keep important information hidden at all costs.