Cyber Fraud: RBI Lists Out Safe Digital Banking Practices

With dependency on digital transactions set to increase further, concerns are now being expressed over safety owing to steep rise in incidents of cyber frauds in different parts of the country.

The cyber fraudsters are using innovative techniques via social media, mobile phone calls and SMS to cheat people. Through various methods, the fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit card details such as PIN, CVV, expiry date and other personal information.

The Reserve Bank of India (RBI) has been creating awareness among people to adopt safe digital banking practices by taking all due precautions, while carrying out any digital (online / mobile) banking / payment transactions.

Safe Digital Banking Practices:

- Do not share account details such as account number, login ID, password, PIN, UPI-PIN, OTP, ATM / Debit card / credit card details with anyone.

- Any phone call / email threatening the blocking of your account on the pretext of non-updation of KYC and suggestion to click link for updating the same is a common modus operandi of fraudsters.

-Do not respond to offers for getting KYC updated / expedited.

- Do not download any unknown app on your phone / device.

- Transactions involving receipt of money do not require scanning barcodes / QR codes or entering MPIN.

- Check URLs and domain names received in emails / SMSs for spelling errors. Use only verified, secured, and trusted websites / apps for online banking, that is, websites starting with ‘’https’’. In case of suspicion, notify local police / cybercrime branch immediately.

- If you receive an OTP for debiting your account for a transaction not initiated by you, inform your bank / e-wallet provider immediately. If you receive a debit SMS for a transaction not done, inform your bank / e-wallet provider immediately and block all modes of debit, including UPI.

- Do not share the password of your email linked to your bank / e-wallet account.