KYC, or Know Your Customer, is a process used by banks and financial companies to confirm your identity. This helps keep your money safe and stops illegal activities like fraud and money laundering. But lately, scammers have started using the term “KYC” to trick people and steal their personal information.
How Do KYC Scams Happen?
Fraudsters often send fake messages or make calls pretending to be from your bank, mobile company, or digital wallet. They claim your KYC is incomplete or about to expire. They’ll warn you that your account might get blocked if you don’t act fast. These messages usually have a link or a phone number that leads you to a fake website or a scammer pretending to be customer support.
Once you click the link or call the number, you may be asked for sensitive details like your Aadhaar number, PAN, date of birth, or even your bank account information. Sometimes, scammers may ask you to download apps like AnyDesk or TeamViewer, which let them control your device and steal your money.
Warning Signs of KYC Scams
- Urgent Messages: Scammers use fear to rush you. Messages like “Your account will be suspended today” or “Last warning: Update KYC now” are meant to panic you.
- Unknown Senders: These messages often come from random phone numbers or strange email addresses, not official customer care contacts.
- Suspicious Links: Banks and wallet companies rarely send clickable links for KYC updates. If a link doesn’t lead to the official website, don’t click it.
- Requests for Sensitive Info: Genuine banks never ask for details like OTPs, CVV numbers, or passwords over calls or messages. If someone does, it’s a scam.
How to Protect Yourself from KYC Fraud
- Don’t Share Personal Details: Never give out your personal or financial information over the phone or through links sent by SMS or WhatsApp.
- Verify Requests: Always check KYC requests by visiting your bank’s official website or calling the customer care number listed there.
- Report Suspicious Messages: If you receive a suspicious message, notify your bank and report it to government helplines, such as 1930 or cybercrime.gov.in.
- Avoid Unfamiliar Apps: Don’t download any app suggested by a caller, especially remote access apps.
- Stay Updated: Keep your phone’s operating system and antivirus software up to date.
- Act Quickly if Scammed: If you think you’ve been tricked, contact your bank immediately to freeze your account or block your card.
KYC scams work by creating fear and urgency. By staying calm and knowing how these scams operate, you can keep your personal and financial information safe. Always be alert, double-check any requests, and never rush to share your details. Your awareness is your best defense against cyber fraud.
