SBI, ICICI, Axis or other bank’s customer? Beware of EMI moratorium scam, do this

cyber criminals. Many fraudsters are trying to take advantage of people, who are trying to postpone their payments, by using Coronavirus information, the Indian Express reported. It can be noted that the Reserve Bank of India (RBI) has permitted a moratorium for three-months where people will not have to pay any EMIs or loans. The decision came as many people have been facing financial difficulties at a time when India had gone under a nationwide lockdown on the back of the Coronavirus outbreak.

Many banks including ICICI, SBI, Axis and others are now warning their clients regarding these kinds of moratorium frauds. The report highlighted that fraudsters are trying to gain account information and are asking for OTP and other passwords by claiming that they could help people postpone their EMIs. It has been revealed that many people are receiving calls from a call centre who claim to help them, and ask them to share bank accounts details, the report said citing Rajesh Kumar, Director Cybersecurity, Netrika Consulting.

According to Kumar, the people need to be aware that no bank will call them up and ask for bank details like their PIN, password or OTP for that matter. He further said that those who are gullible, end up sharing information (financial) or are made to click on certain links that cost them money. People who are not highly educated or not tech-savvy end up giving some credentials to these fraudsters, the report said.

Kumar warned that the customers need to remain safe and not share any financial information. Even while using a website for payments especially, checking the presence for any kind of malware is a must as there are many websites that are similar to the original ones, the report added.

What to do?

Now, what can a person do if he/she has become a victim, or receive a call from fraudsters? Anyone who has shared information like their CVV, PIN, password or OTP should immediately report to the bank. People who have already shared their OTP/CVV/password/PIN with the fraudster, should immediately inform the bank through their registered numbers or links and request the bank to put a stop to any transactions.

Police or cyber cell complaints are also recommended, according to the report. The moratorium option, despite being existing for a long time, has come into play recently amid the lockdown.


Source:- financialexpress