The Reserve Bank of India (RBI) has issued a warning to the public about fraudulent schemes that use the RBI’s name to defraud individuals. These scams utilize three main strategies:
- Enticing tactics – This involves fraudsters pretending to be RBI employees, using fake documents and emails to offer fictitious rewards such as lottery winnings or government schemes, demanding fees for these non-existent offers. They also target businesses by posing as officials and asking for a “security deposit” under the pretence of a government contract.
- Intimidating tactics – This includes impersonating RBI officials through phone calls, SMS, or emails to threaten account freezes or legal action unless personal details are provided. These fraudsters may use threats of illegal activities to coerce victims.
- Fake accreditation – This involves creating fraudulent websites and apps that falsely claim to be RBI-regulated, including unauthorized digital lending platforms.
In light of these scams, the RBI has emphasized several key points to protect the public. The RBI does not manage personal or corporate accounts, solicit deposits, or communicate about lottery winnings or fictitious offers. People should be wary of any requests for money or personal information from individuals posing as RBI or government officials. They should never share sensitive information like login details, PINs, or OTPs with unknown sources. Instead, they should verify any claims of RBI accreditation through the official RBI website and report suspicious communications to law enforcement.
Please refer to the hyperlink below for a detailed read of the notification.
Source: Reserve Bank of India
