Press Release: 2014-2015/1046
Dated: November 21, 2014
Credit Card in the
name of RBI : RBI cautions Once More about the Newest Kind of Fraud perpetrated
in its Name
The Reserve Bank of
India today issued one more alert to the public about the newest form of fraud
perpetrated in its name – a credit card issued by fraudsters in the name
of the Reserve Bank. Explaining the modus operandi, the Reserve Bank
stated
that the gullible member of the public is sent a credit card which allows withdrawal of money up to a certain limit, albeit a small sum, from a bank account. Having gained the confidence of the victim thus, the fraudster gets him to deposit a huge sum of money in the same bank account. Once the money is deposited, the card stops working and that would also be the last time the holder of the card (victim) would hear from the fraudster.
that the gullible member of the public is sent a credit card which allows withdrawal of money up to a certain limit, albeit a small sum, from a bank account. Having gained the confidence of the victim thus, the fraudster gets him to deposit a huge sum of money in the same bank account. Once the money is deposited, the card stops working and that would also be the last time the holder of the card (victim) would hear from the fraudster.
Warning against such
efforts, the Reserve Bank has reiterated that as India’s central bank, it does
not carry out any business with an individual, whether through savings
bank account, current bank account, credit card, debit card, online banking
services or receiving and holding funds in foreign exchange or any other form
of banking services. The Reserve Bank has listed out the other kind of
prevalent frauds, such as:
i) Fictitious offers
of large sum of money/lottery winnings by email or through phone
calls by posing as RBI official.
ii) Fake Reserve Bank
website for online transactions
iii) Luring members of
public to secure their bank accounts against such frauds by asking them to
share the bank account details, including user id/password, through
an email or by clicking on a link given in email.
iv) Offer of employment
in the Reserve Bank through email
The Reserve Bank has
also stated that fictitious offers are also made in the name of other public
institutions, such as, International Monetary Fund (IMF), Income Tax
authorities, Customs authorities or public figures like Governor, Dr. Raghuram
Rajan or other senior RBI officials.
The Reserve Bank has pointed out that once the
moneys are paid in fraudsters’ accounts, there are remote chances of the
members of public recovering the moneys.
The Reserve Bank has
once again cautioned members of public that falling prey to such offers can
result in compromising one’s own crucial personal information that
may be misused to cause direct financial and other loss to them. They, in their
own interest, should refrain from responding to such offers in any manner.
Rather, they should immediately lodge a complaint with Cyber Crime branch of
the Police, the contact details of which are available in the Reserve
Bank’s press release issued earlier (Complain to Local Police/Cyber Crime
Authorities against Fictitious Offers of Money from Abroad).
(Alpana Killawala)
Principal Chief General Manager
Principal Chief General Manager
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