Banks have issued advisories asking customers to be aware of fraudsters who may attempt to exploit the EMI-moratorium scheme as some cases have come to light.
Banks like Axis Bank, State Bank of India and various other banks have sent out SMSs and email alerts to its customers strongly advising them not to share sensitive information like OTP and PIN with imposters.
Axis Bank said in an e-mail to customers that fraudsters have started a new modus operandi to gain access to banking details.
The State Bank of India (SBI) also tweeted in this regard and said, “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.”
According to the banks, nothing will stop the fraudsters and scamsters to commit a scam.
Banks have been alerting their customers of cyber frauds that can happen while availing EMI moratorium. For instance, on Sunday, the State Bank of India (SBI) tweeted this: “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.”
The government and entities like RBI have come out with various relief measures for borrowers.
One such measure announced by the RBI was the three-month moratorium or grace period for loan equated monthly installments (EMIs) and credit card dues. which is a slight ray of sunshine for borrowers.
In addition to this, several police departments have also cautioned people against such cyber frauds and scams and have urged people to stay aware and stay safe.
The police has cautioned people to be careful of such calls that seek to share sensitive information like OTP, CVV of credit/debit cards, login credentials of net banking and credit cards.
