KYC Renewal: RBI Important warning to Citizens

KYC Renewal: The banking sector regulator Reserve Bank of India has warned the citizens about the fraud going on in the name of KYC renewal. RBI said that many customers have fallen victim to fraud in recent times under the guise of updating KYC. KYC Renewal: RBI Important warning to Citizens.

There have been many such complaints. In such a situation, RBI has advised citizens to take precautions and be vigilant to avoid losses and protect themselves from such scams. RBI has issued a press release explaining how people are being duped in the name of updating KYC, where customers first get a message to cheat through a phone call, SMS or email.

KYC Renewal: RBI Important warning to Citizens
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Through this an attempt is made to influence the customers by revealing their personal information. Furthermore, they are asked for their account login details or are asked to install an unauthorized or unverified application on the mobile phone by sending a link through a message.

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In such messages, if the customer does not comply, attempts are made to show urgency in a false manner or pressure is put on the customer by threatening to block, freeze or close the account. When the customer shares their personal essential information or login details, the fraudster gains access to the account, after which he carries out the fraud.

The Reserve Bank of India (RBI) has asked citizens to file a complaint immediately through the National Cyber Crime Reporting Portal ( or by dialling the Cyber Crime Helpline November 1930. RBI has issued guidelines on what citizens should and should not do.

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KYC Renewal: RBI Important warning to Citizens
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Things to Do:

When requesting a KYC update, contact your bank or financial institution directly and ask for assistance.

Get bank and financial institution contact number or customer care phone number only through official websites and sources.

Immediately notify the bank or financial institution in case of cyber fraud incident.


Do not share bank account login details, card information, PIN, password, OTP with anyone.

Do not share copies of KYC documents with unknown or unidentified persons or organizations.

Do not share any sensitive data information through unverified unauthorized websites or apps.

It is advised not to click on any suspicious or unverified links you receive on mobile or email.

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