At the time, when the entire nation is putting efforts to refrain from the COVID-19 pandemic, the Reserve Bank of India has announced relief measures to help India overcome financial crises. One such measure brought in light by the RBI was declaring the 3-month moratorium or grace period for all the EMIs of personal loan, home loan, LAP, Business loan & and credit card dues.
This has brought some respite among borrowers, but to turn this moratorium period for their benefit, guess who is trying to manipulate this? Fraudsters or scammers! Yes, these fraudsters are calling bank customers asking them to share their OTPs to help defer their EMI payments and OPT for EMI moratorium.
SBI Bank and ICICI Bank have come forward alerting their customers not to share the OTPs to these fraudsters as EMI deferment does not require any OTP sharing. SBI Bank has also tweeted this statement to its customers stating “Cyber fraudsters keep finding new ways to scam people. The only way to beat the #cybercriminals is to #BeAlert & be aware. Please note that EMI Deferment does not require OTP sharing. Do not share your OTP.”
SBI, ICICI, and HDFC Bank have also issued a warning to its customers by sending emails and reporting this incident on social media. In such instances, fraudsters are calling the customers requesting them for their OTP to help them OPT for the moratorium scheme announced by banks for their EMI deferment. Once any customer shares OTP with these fraudsters, it will siphon off money from their bank account immediately.
In order to spread awareness and safeguard the interests of customers from such fraudsters, ICICI Bank has issued a secured advisory that has been shared across its customers.
These advisory has issued some tips for the customers as detailed below: