RBI warns against rising fraud in its name: Know how to remain protected

The Reserve Bank of India (RBI) has cautioned people about fraud being carried out in its name, urging them not to share information such as account login details, one-time passwords (OTPs), or Know Your Customer (KYC) documents with strangers.

Common tactics used by fraudsters

The RBI said that cheats are using various tactics to defraud members of the public by misusing its name. These fraudsters use fake letterheads and email addresses, impersonating RBI employees to lure unsuspecting victims with fictitious offers including lottery winnings, fund transfers, foreign remittances, and government schemes.