Tips to Identify Banking Fraud Messages

Online Banking Frauds and Scams have increased exponentially with the importance of online infrastructure functioning becoming the only mode of interaction and communication between the customers and the banking institutions who regulate the funds. The lockdown situation induced by the Global Coronavirus Pandemic has forced people to operate banking functions remotely from the safe corner of their abode, thus creating an opportunity for online banking scams where money has been siphoned off accounts with tele-callers asking for OTP and then accessing the bank account of the customers to withdraw cash balances without the consent of the bank account holder. 

A prestigious private bank in ICICI has initiated tips to help account holders identify fake messages which are sent by the banking institutions to the account holders so that a better banking environment can prevail. The following are some of the messages and the associated explanations that ICICI Bank has provided for the fake messages sent-

Fake Message 1- Your KYC has been completed. You will now get a cashback of 1000 on your first order from the application.
The banking institutions have said that the KYC completion process does not entail any cashback and cash reward. The KYC is a mandatory process that must be completed where you are linking your mobile phone with the Aadhar Card. 

Fake Message 2- Your account has been credited with 3,00,000. Claim the amount by logging in to the following link- HTTP://
Such links are invalid and whenever you put your details while logging in there is a high chance that your bank accounts can get hacked. 

Fake Message 3- Your Income Tax Refund of 20,000 has been credited to your bank account. Please claim the amount as soon as possible. 
You will receive an official email from the Income Tax Department whenever your return has been initiated. 



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