KYC UPDATION FRAUD
Groww user alleges 'fraud', says app shows mutual fund investment but can't redeem, company denies; what are lessons for MF investors? Groww faces 'fraud' allegation: A customer's complaint against Groww, has sparked concerns over investment safety via execution-only platforms (EOPs). The investor alleged via social media that investments made through Groww could not be withdrawn d...
27 Jun, 2024, 02.29 PM ISTElectricity bill KYC Update Scam: What is the scam, govt measures to safeguard users19 Jun, 2024, 12.47 PM IST Surprise poll results impact startups' plans, and other top stories this week In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting da...
08 Jun, 2024, 07.20 AM IST- ADVERTISEMENT
Re-KYC update of bank account: How to update KYC of bank account online in HDFC Bank, SBI, Canara Bank, ICICI Bank How to update KYC details: Re-KYC is a procedure that allows banks and other financial organisations to stay up to date on a customer's most recent contact data and personal details. Here is how you can update your KYC details online for these top b...
06 Jun, 2024, 11.24 AM ISTFraud, crypto & wallet: A virtual hold for a real crime Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).
17 May, 2024, 06.08 AM ISTDigital fraud-hit banks turn to startups to cope with risks Legacy financial institutions turn to startups like Data Sutram for tech support in customer verification. Data Sutram's 'DS Authenticator Trust Score' aids in assessing customer trust levels during account opening. Bureau Inc's 'Money Mule Score' e...
06 May, 2024, 06.01 AM ISTMoney Mule Scam, a new fraud: How to spot and safeguard your money from fraudsters Digital banking frauds: Mule Accounts are being used to launder money and what's worst is that legitimate Indians are lending their bank accounts and others for some incentive and helping in furthering this type of fraud. According to BioCatch, a Is...
26 Apr, 2024, 11.02 AM ISTMutual fund investment frozen for KYC? Know who can do re-KYC online and who has to do it offline KYC for mutual funds: It is a regulatory requirement that re-KYC be completed by many investors by April 1, 2024. Although the process of completing re-KYC is easy enough, the lack of clarity among investors is causing issues. There are reports of p...
23 Apr, 2024, 10.48 AM ISTIn fight against online frauds, banks moot syncing systems with MHA’s cybercrime portal This is aimed at restraining perpetrators of digital crimes and phishing attacks from quickly moving money from a target’s bank account to accounts with multiple banks before it’s withdrawn or spent — a ploy used by cyber shysters and voice phishers...
20 Apr, 2024, 12.35 AM ISTWary of BoB World app and other scams, Fin Min bats for enhanced KYC, due diligence To counter financial frauds like the BoB World app scam, the finance ministry proposes reinforced KYC procedures and due diligence for merchant onboarding. Enhanced data security is urged for merchants and Business Correspondents (BCs) to mitigate c...
14 Apr, 2024, 11.40 AM ISTPaytm Fallout: RBI's new KYC drill impacting ARC deals Earlier, asset reconstruction companies (ARCs) would ask creditors selling bad loans for central KYC records, but now the RBI is insisting on full KYC. "When purchasing portfolios from banks/NBFCs, RBI requires ARCs to maintain KYC documents for all...
10 Apr, 2024, 06.27 AM ISTMaking caller ID display optional to protect subscriber privacy: Experts The telecom regulator's recommendation to offer the calling name display feature on mobile devices as an opt-in service shall protect subscriber privacy and weed out fraud and spam callers. However, challenges such as call set-up time and unsupporte...
27 Feb, 2024, 08.28 AM ISTKYC-update frauds get RBI attention: Know how scams happen, how to protect yourself KYC Updation Fraud: The Reserve Bank of India (RBI) has cautioned individuals about KYC updation frauds which has been ongoing lately. An individual is required to periodically update their KYC with their banks as per specified timelines. However cy...
03 Feb, 2024, 10.45 AM ISTDo not share documents with unknown entities for KYC updation, cautions RBI On what should be done in the event of receiving any request for KYC updation, RBI said directly contact their bank/financial institution for confirmation/ assistance."Obtain contact number/ customer care phone number of the bank/ financial institut...
02 Feb, 2024, 07.33 PM ISTWhat's KYC fraud and how to stay safe from this scam Fraudsters are continuously finding new ways to bypass these checks and steal personal information or engage in criminal activities.
27 Jan, 2024, 03.55 PM ISTRBI asks banks to adopt risk-based approach for KYC The Reserve Bank of India (RBI) has tightened customer due diligence (CDD) norms by requiring banks and regulated entities to adopt a risk-based approach for periodic updating of Know Your Customer (KYC) information. The amendments to the Master Dir...
17 Oct, 2023, 10.38 PM IST'Masti' star Aftab Shivdasani gets fooled by online scam team, loses Rs 1.50 lakh After losing the amount, the actor contacted his bank manager and lodged a police complaint.
10 Oct, 2023, 04.45 PM ISTHow HDFC Bank customers can identify fake SMS messages Countless people have been cheated by fraudulent SMSs. Numerous bank customers have received texts from strange numbers informing them that their KYC update with the bank is required.
17 Mar, 2023, 10.45 AM ISTLIC warns policyholder about fake information with regard to penalty charges for KYC update Customers who fail to update their Know Your Customer (KYC) information for life insurance plans are not fined, according to the Life Insurance Corporation of India.
21 Dec, 2022, 12.33 PM ISTBanking on awareness to tackle cyber fraud Nudged by the Reserve Bank of India (RBI) and the government, banks are making an all-out effort to increase public awareness to check the rise of online fraudsters. With digital transactions becoming simpler and mainstream, fraudsters are finding g...
03 Sep, 2022, 11.48 AM IST