Another KYC scam doing the rounds: Here’s how you can protect yourself

Hello Everyone,

Amid rising instances of fraud using the Unified Payment Interface (UPI) platform, the Reserve Bank of India had cautioned all banks and payment system operators about a new modus operandi allegedly used by scammers to target customer phones. In this notification reserve bank India have strictly asked all banks, brokers etc to not use remote access applications. Despite these measures, there is no significant decrease in such incidents.

RBI wants all institutes to be KYC compliant in the given time frame . Which is being a major cause of concern to the customers. Being non KYC user limits access,transaction and features. Scammers have picked the same and manipulating customers to steal their money.

How the scam works

  1. You get a call that your wallet or bank KYC is invalid.
  2. Caller says it can be validated online so that your account is active again.
  3. You are asked to download an app to facilitate step-by-step guidance.
  4. When you use the app, caller can see your phone screen.
  5. He asks you to transfer a small token amount to your wallet.
  6. When you do so, he can see your password and other details.
  7. He uses them to simultaneously transfer larger amounts from your bank.
  8. Victim gets OTPs for all transfer requests but these can be seen by scamster via the app.
  9. In a matter of minutes, the scamster cleans out the bank account.

How to safeguard yourself

  1. Do not share OTP with anyone.
  2. Strictly avoid remote access applications.
  3. Don’t share AADHAR copy without blacking out first 8 digits.
  4. Update your latest contact details.
  5. Inform your bank or broker if you sense any anonymous activity in your account.
  6. Change your password at least once every three months.
  7. Don’t share your mobile and confidential data with anyone.
  8. Most important , Don’t do monetary transactions on public or open wifi network

Thanks you , be safe . Cheers :slight_smile:


Broker, bank, government offical or any other institute never every call for anything releted kyc, otp personal details.

They only call for selling there product but even there if they ask for send documents then say no just visit branch for that.

If person is sharing such information, then go know how educated that person is…

1 Like

You can submit if they ask to send at their registered address and don’t forget to mention reason of documents submission on document itself.

You will have at least one KYC fraud in news daily so you can imagine depth of these scams


Would the entity concerned accept aadhar with first 8 digits blacked out? Is there any notification that one can refer if the entity concerned refuses to to accept such a copy of aadhar?

@Akshay_V_Kul, Hey, In this matter, are there any major steps by the Govt or any concerned organizations to spread awareness to the mass public.?