Taking cognisance of recent instances of cyber frauds, the Reserve Bank of India has recommended a slew of safe digital banking practices. In a press release, Chief General Manager of RBI Yogesh Dayal urged customers to never share bank account details, even with bank officials. Dayal also said that emails or phone calls that threaten that one's account may be blocked were 'common modus operandi of fraudsters.' "Do not respond to offers for getting KYC updated/expedited. Always access the official website of your bank/NBFC/e-wallet provider or contact the branch," he added. "It has come to the notice of Reserve Bank of India that unscrupulous elements are defrauding and misleading members of public by using innovative modus operandi including social media techniques, mobile phone calls, etc. In view of this, the Reserve Bank cautions members of public to be aware of fraudulent messages, spurious calls, unknown links, false notifications, unauthorized QR Codes, etc. promising help in securing concessions/ expediting response from banks and financial service providers in any manner." — RBI press release Social engineering-based cyber frauds are on the rise and they’re not just targeted towards senior citizens (perceived to be unskilled in digital use) but also target those who are technologically proficient and use smartphones on a regular basis. Recently, Reliance Jio warned customers of a social engineering fraud where scammers posing as Jio representatives try to gain access to a customer's sensitive information such as Aadhaar, bank account details, and so on. Typical modus operandi used by fraudsters, according…
