Man loses Rs 2.5 lakh to KYC update scam: How to be safe

In today’s digital world, banking frauds are on the rise and scammers are coming up with new ways to trick people. One such case recently surfaced in Pune, where a 54-year-old man lost Rs 2.5 lakh after falling for a fake KYC update scam. Keep reading to know how the scam unfolded and how to avoid falling for such frauds.

The victim, a private company employee, received a message from an unknown number claiming that his bank account’s KYC update was pending. The message warned that if he did not complete the process, his account would be blocked. To make it look legitimate, the message also had a link to an APK file (an Android app file).

Also read: Chandigarh man loses Rs 9 lakh in credit card scam: Here’s what happened

Shortly after, the man received a call from someone pretending to be a bank official. The caller insisted that he needed to download the file and enter details to update the KYC, reports TOI. Trusting the caller, the victim followed the instructions. As soon as he entered his details, Rs 2.5 lakh was withdrawn from his bank account.

How to avoid falling for such scams

• Never download unknown files or apps: Banks never ask customers to download APK files for KYC updates or any other services. Avoid downloading files from unknown sources.
• Verify directly with your bank: If you receive a suspicious message, call your bank’s official customer service number instead of responding to the message.
• Check for phishing attempts: Scammers often send fake messages that look real. Always check the sender’s details before clicking on any links.
• Report fraud immediately: If you fall victim to a scam, report it to your bank and the cybercrime helpline as soon as possible.

Also read: Beware! This new call merging scam can wipe out your entire life savings: How to be safe