Banks warn of KYC fraud, here's what you should do
If you don’t want to visit the branch, you can use the doorstep banking facility. Public sector banks have got together to form PSB Alliance. Under this service, customers of government banks can avail banking services at their home, including KYC. You can schedule for KYC document pick up

NEW DELHI: Banks are warning customers to be cautious about KYC (know your customer) fraud. For example, the State Bank of India (SBI) told its customers to be careful of fraudsters pretending to be bank officials or representative of the Reserve Bank of India (RBI) or KYC authority.
Around two months back, many government banks started asking their customers to update KYC. Failing this, the banks began freezing accounts of depositors.
Following complaints of such practices, RBI asked financial institutions not to take punitive action against their customer. The central bank gave time until December for depositors to update their KYC.
Many banks were forcing customers to visit the branch to submit documents despite the rising cases of covid-19. RBI has asked banks to make use of digital channels for KYC.
Amid this were happening, fraudsters started calling gullible depositors, asking them to do KYC on the phone. They scammed customers by asking them to share OTPs (one-time passwords) or just taking their sensitive details.
Banks are, therefore, advising customers not to share any details over the phone or emails or click email attachments. Individuals should also avoid downloading apps that claim to help with KYC.
WHAT SHOULD YOU DO?
If you have received a message from the bank to update your KYC, first check if it’s possible to share the documents on the official apps or website of the bank.
If you don’t want to visit the branch, you can use the doorstep banking facility. Public sector banks have got together to form PSB Alliance. Under this service, customers of government banks can avail banking services at their home, including KYC. You can schedule for KYC document pick up.
For doorstep banking, you can either download an app or call a toll-free number. Ensure that the app developer is either by Atyati Technologies Pvt Ltd or Integra Microsystems Pvt Ltd. Avoid apps by any other developer.
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