Warning, scam! SBI asks customers to beware of scammers posing as CBI or IT professionals to extort money

State Bank of India (SBI) recently warned its customers about a new scam in which scammers are posing as officials of the Central Bureau of Investigation (CBI) or the Income Tax Department. These scammers try to intimidate victims by claiming that they are involved in a bogus court case and could face large fines or arrest.

“Dear SBI Customer, Fraudsters may pose as CBI or IT department officials and threaten you with legal action or heavy fines to extort money. Beware of such scams,” SBI told its customers.

How does the scam work?

1. False call: The scam starts with an unwanted call, often through a video chat app. The scammer, posing as an official, provides the customer’s personal details, such as KYC information or address, which are collected from publicly available sources, leading the victim to believe that the call is legitimate.

2. Creating fear: The scammer convinces the victim that she has broken laws, such as evading taxes or skipping a court date, and threatens her with jail time or legal consequences. This causes panic, making the victim more susceptible to manipulation.

3. Mock investigation: The fraudster may go to the extent of faking an official request and asking for additional personal information, including Aadhaar and bank details, on the pretext of investigation.

4. Offering a “solution”

: Having created a sense of urgency, the scammer offers an escape route, claiming that paying a bribe will resolve the situation. The victim is instructed to transfer the money to another bank account with the promise that the funds will be returned after investigation.

This scam, based on “phishing” and “social engineering”, tricks victims into sharing sensitive information or transferring money to scammers.

How to avoid becoming a victim of such fraudulent calls?

– Check the source: Always confirm the identity of the caller before sharing any information. Legitimate organizations generally do not request sensitive information over the phone or video calls.
– DO NOT disclose personal information: Never give out personal, financial, or account information to anyone who contacts you unexpectedly.
– Be skeptical of threats: Be careful if you are threatened with legal action or fines. Genuine legal communications usually come through official channels such as mail, with clear instructions and time for response.
– Report suspicious activity as soon as possible: Report any suspicious messages to your bank and local authorities immediately.
– Increased security: Enable two-factor authentication on your mobile devices and bank accounts and use strong and unique passwords for your online services.

By taking these precautions, you can protect yourself from fraud.

Also read : The new unified pension form 6-A is already available on the website: how to apply?