New Delhi: Cases of online fraud are witnessing a continuous rise across the country. Scammers are employing novel methods to ensnare people in their traps and defraud them. Banks across the nation also regularly issue alerts to their customers to help them guard against cyber fraud. Now, the country’s largest lender, the State Bank of India (SBI), has issued a startling warning.
Cyber fraudsters are sending fake letters in the name of the bank to defraud customers. These fraudulent letters contain alerts regarding the completion of KYC (Know Your Customer) procedures. The bank has issued an alert advising customers to be wary of such messages. Read on below to learn in detail what SBI has communicated via the social media platform ‘X’ (formerly Twitter).
The Bank Issues a Major Warning Regarding Scammers
The State Bank of India stated that online fraudsters have devised a new method of committing fraud. The bank noted that, employing this new tactic, fraudsters are sending fake “bank letters” and “KYC alerts” to SBI customers. Scammers are sending APK files, which pose a significant security risk. SBI has advised its customers to install the bank’s mobile application exclusively from official app stores—specifically the Google Play Store and the Apple App Store.
In a post on the social media platform ‘X’, SBI stated that fraudsters are sending fake “bank letters” and “KYC alerts” accompanied by malicious APK links. Tapping on such a link just once could compromise the security of your phone and result in the unauthorised withdrawal of your funds.
“Download the app only from the Play Store or App Store.” The post further added, “Never install suspicious APK files. To report cyber fraud, please call 1930.
Advice Issued by the Bank for Account Holders
First and foremost, ensure that you download the app exclusively from the Play Store or the App Store.
Furthermore, never click on APK files received from any unknown or unverified source.
How to Identify Fake Apps
As a primary precaution, before downloading any app, you should always verify the name of the developer. Most fraudsters adopt names that closely resemble those of legitimate companies. This requires scrutiny. Furthermore, genuine apps typically boast millions of downloads, whereas fake apps often have a significantly lower number of installations. In this regard, you should not merely look at the star ratings; it is also essential to read the user reviews.
