The do’s and don’ts of KYC updation

Here is a list of Dos and Don'ts to avoid KYC fraud:

In the wake of continuing incidents/ reports of customers falling prey to frauds being perpetrated in the name of KYC updation, RBI urged people to exercise caution and due care to prevent loss and safeguard themselves from such malicious practices.

Dos

Verify KYC Requests: In the event of receiving any request for KYC updation, directly contact your bank or financial institution for confirmation or assistance.

Use Official Sources: Obtain contact numbers or customer care phone numbers of the bank or financial institution only through its official website or trusted sources.

Report Cyber Fraud: Inform your bank or financial institution immediately in case of any cyber fraud incident related to your account or personal information.

Check Update Options: Enquire with your bank branch to ascertain the available modes or options for updating KYC details and follow the recommended procedures.

Refer to RBI Guidelines: For more details or additional information on the requirements and channels for updation or periodic updation of KYC, please refer to paragraph 38 of the RBI Master Direction on KYC dated February 25, 2016, as amended from time to time.

Don'ts

Avoid Sharing Credentials: Do not share account login credentials, card information, PINs, passwords, or OTPs with anyone, including friends or family members.

Protect KYC Documents: Do not share KYC documents or copies of KYC documents with unknown or unidentified individuals or organisations to prevent identity theft or misuse of personal information.

Be Wary of Unverified Sources: Do not share any sensitive data or information through unverified or unauthorised websites or applications to avoid potential data breaches or scams.

Avoid Clicking Suspicious Links: Do not click on suspicious or unverified links received in mobile messages or emails, as they may lead to phishing scams or malware installation on your device.

By following these guidelines, you can safeguard your personal and financial information from potential risks and ensure a secure banking experience.