Bank alert: Fraud messages to trap investors, eat up money

New Delhi : Fraudsters trying to snatch your money online are not new, but the way they are opting this time may confuse many in believing that they are not fraud companies. In a bid to ensure safety of its users the banks have issued an alert mail to the users notifying about it in detail.

The HDFC bank said that it has been brought under the notice of SEBI that certain fraudsters are trying to get the data of the customers who are trading in stock market. This data is then used to send them messages on the pretext of providing investment tips.

The aim of such fraud messages is to lure the customer into fruitful investment tips and then take away their hard earned money. "With reference to the caption subject, we wish you inform that it has been brought to the notice of SEBI by Central Economic Intelligence Bureau, Department of Revenue, GOI, that certain fraudsters are collecting data of customers who are already into trading either in NSE / BSE and send them bulk messages on the pretext of providing investment tips and luring them to invest with them in their bogus firms by promising huge profits," the email, with 'Subject: SMS message tempting towards investment / trading in stock market',  by HDFC Bank says.

The statement also said "HDFC Bank officials or representatives will NEVER ask you for your personal information i.e. your card details, passwords, PIN, CVV, OTP etc. DO NOT share these details with anyone over phone, SMS or email."    

The State Bank of India (SBI) has also issued a similar warning to its customers. "Don't get misled by fake customer care numbers & avoid falling prey to fraudsters. Ensure that you always procure contact and branch information from the official #SBI website - https://bank.sbi," the SBI tweeted on November 20, 2019.

A way to remain safe

One of the easiest ways to remain safe and secure is to never share any kind of password or OTP with anyone.