The Reserve Bank of India has issued a warning against fraudulent KYC update messages that ask customers to click links or share sensitive banking information.
Messages claiming that an account will be blocked unless KYC is immediately updated are commonly used by scammers to create panic and trick customers into revealing OTPs, PINs, passwords or other financial details.
Customers are advised not to click suspicious links and to contact their bank or financial institution directly for KYC-related requirements.
RBI has also highlighted the Central KYC (CKYC) system, which provides a centralised repository of customers’ KYC records. Once KYC is completed with a participating financial institution, a 14-digit CKYC identifier is generated, helping reduce the need to repeatedly submit the same documents to different regulated financial institutions.
RBI has further reminded customers about unclaimed deposits. Bank accounts that have remained inactive for more than 10 years may have their balances transferred to the Depositor Education and Awareness (DEA) Fund. However, eligible customers or their legal heirs can still claim the money, along with applicable interest.
Customers can search for unclaimed deposits through RBI’s UDGAM portal or approach their bank directly.
Remember: Don’t rush, don’t click suspicious KYC links and never share your OTP, PIN or password with anyone.
