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RBI lists out all the ways scammers use to empty your bank accounts




In view of rising financial frauds, the Reserve Bank of India (RBI) released a 40-page booklet listing all the ways scammers can steal your financial credentials and empty your bank accounts.

This booklet titled ‘BE(A)WARE’ emphasizes the need to keep one’s personal information safe,  practicing due diligence while performing financial transactions.

Here are all the popular ways RBI lists that scammers use frequently to steal your sensitive data.

Unknown mobile apps

Malicious mobile apps are the easiest way for hackers to gain complete access to your device. These applications are shared as ‘authentic’ apps on social media platforms and WhatsApp group chats. The link is engineered in such a way that the customer is redirected to download the unknown application. Once the app is downloaded, the fraudster gains complete access to your device.

RBI highlights that these apps are mostly screen-sharing apps through which the scammers can watch, control your mobile phone to gain access to your financial credentials.  Later, they make payments using your Internet banking and payment apps

Malicious links

Pushing out a malicious link is one of the most simple methods to scam an unsolicited individual. According to RBI, fraudsters might create a fake website that looks like an existing genuine website, such as a bank’s website or e-commerce website or search engine, etc. These links are then circulated by fraudsters through text messages or via social media, etc.

QR scans

Scanning QR codes has become very prominent during COVID times. Whether you’re in a restaurant looking to access the menu or want to make a contactless payment. Scammers often contact customers under various pretexts and trick them into scanning QR codes using payment apps. This allows the fraudsters to withdraw money from the customer’s account.

Charging ports

This might sound unbelievable, but scammers have figured out a way to infect your devices and gain full access to it, using a charger. RBI in its research, notes that ‘juice jacking’ is a type of cyber stealing, where, once your mobile is connected to unknown or unverified charging ports, unknown apps are installed with which, the fraudsters can steal sensitive data, email, SMS,  and even saved passwords.

Through search engines

All of us rely upon Google to search for the contact numbers of businesses, banks, and government offices. Scammers are well aware that search engines have become a source of trust. Taking advantage of this, scammers have listed out fake contact details on search engines such as Google, Yahoo, etc., to attract victims and steal their money.

Once a customer calls on these numbers, the impostors ask the customers to give their card credentials details for verification. Assuming this contact to be genuine, people compromise all their security details and thus fall prey to fraud.

RBI Cautions

  • RBI does not hold any accounts for individuals.
  • Beware of impersonated names of RBI officials
  • Nobody from RBI calls up people about lottery winnings/funds received from abroad
  • RBI does not send any emails intimating the award of lottery funds, etc.
  • RBI does not send any SMS or letter or email to communicate fictitious offers of lottery winnings or funds received from abroad.
  • The only official and genuine website of the Reserve Bank of India is ( and the public may be careful and not get misled by fake websites with similar addresses beginning with ‘Reserve Bank’, ‘RBI’, etc., along with fake logos.
  • Inform local police or cyber crime authority about such frauds.

Thanks for reading!!

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