If you have SBI debit or credit cards, you must be aware of the recent fraud which is mainly targeted at State Bank of India (SBI) customers, to loot money from them. You might be aware of frauds like card skimming, phishing and SIM swap frauds which are used by fraudsters to wipe out money from the bank accounts of innocent people. The fraud which we are going to discuss in this blog is vishing, where the fraud is performed through a simple phone call.
Even before victims get to know they have been cheated, the money is debited from their bank accounts. The fraudsters fool people through the call to collect personal banking information. Not just the State Bank of India, this fraud can be replicated at any bank. So, you have to be very careful about this fraud.
1. SBI customers receive a call from a fraudster who introduces himself as a representative of SBI. The call is just like any other call from a bank or a reputed institution. The caller will speak in a professional manner, so that the person on the other end of the call has no doubts.
2. To make it look like an official call, the caller will confirm the details of the customer. The details are name, date of birth and the mobile number.
3. The caller tries to frighten the customer by saying that his SBI debit or credit card would be blocked soon, if it is not upgraded.
4. To upgrade the card, the customer will be asked to follow certain steps. The customer would be informed that these steps would help them avoid getting the card blocked.
5. To solve this problem the customer will be asked to provide his/her customer id or card details. The card details are the card number, CVV and expiry date of the card.
6. To go ahead with the procedure, the customers will also be asked to provide bank details.
7. To verify the service the caller will be asked to provide the One Time Password (OTP) sent to his/her mobile number.
8. Once you provide the OTP sent to your mobile number, the money from your account will be transferred to remote accounts in different states or countries. This is done with the intention of making it difficult to trace.
9. These kinds of calls are made from both mobile numbers and landline numbers.
1. To avoid this fraud, you must keep one thing in the mind that, SBI or any other bank will never ask for personal banking details over the phone. So, you must never provide your card number, CVV, the expiry date of the card, OTP and your passwords to anyone over call or email.
2. In case you receive such calls kindly ignore and report it to the nearest police station.
See Also: Tips by SBI for Secured Mobile Banking
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