If you take a few precautions, you can protect yourself from falling into the trap of fraudsters.
Know Your Customer (KYC) is a process required by banks and financial institutions before offering their services.
The purpose of KYC is to verify a customer’s identity. However, fraudsters are now using this process to trick people.
Every day, many people are cheated in the name of KYC. Those who are unaware of this scam often become easy targets.
How People Get Tricked
Fraudsters usually reach out through phone calls or messages. They pretend to be representatives of banks, insurance companies, phone operators, or digital wallets.
They say that your KYC is incomplete or expired, and if you don’t update it, your services will be stopped. Then they send a link or contact number to your phone.
They Ask for Personal Details
If you click on the link or call the number, they ask for personal information like Aadhaar number, PAN, date of birth, and bank account details.
Sometimes, they also ask for remote access to your phone using apps like AnyDesk or TeamViewer. Once access is granted, they can steal money from your bank account.
Tips to Avoid Becoming a Victim
By being careful, you can avoid falling for these scams. First, remember that fraudsters try to create panic.
They may say your bank account will be closed today or your mobile service will be stopped.
Second, they usually ask for sensitive information like OTPs, CVV numbers, and passwords.
Always remember — no bank or official company will ask for such details. If anyone does, it’s a red flag.
Stay Calm and Ask Questions
If you panic after receiving a call or WhatsApp message, it becomes easier for scammers to fool you.
If someone calls and asks for your details, ask for their name and the company they represent.
Most scammers will hang up if questioned. This simple step can help protect you from fraud.
