Fraud Alert! SBI warns about fake offers on Whatsapp, social media: Here's what you need to do

Mar 11 (AZINS) SBI has issued a warning for all its bank holders to be aware of the Whatsapp and fake social media messages. The largest lender State Bank of India (SBI) took to Twitter to issue the warning. The bank noticed that few customers had been receiving fake messages where they are being asked to share financial credentials.

The bank has been taking various measures to ensure the safety and security of its customers, and thereby it is of utmost importance to stay alert and vigilant. SBI has also directed its customers for not sharing their details to anyone in the wake of this fraud.

“Stay alert to stay safe! Fake offers on messages via WhatsApp and social media could lead you astray. Report any untoward incident by calling at 1-800-111109,” SBI tweeted.

Here is all you need to know about the Whatsapp and social media fraud: 

Few SBI customers have been getting messages via Whatsapp and social media platforms. The customers are being asked to share an OTP (one-time-password) which also includes low-value transactions. In such situations, a fraudster tries to carry out a transaction either through net banking or through software. Generally, when the software of the system is new the net banking portal does ask for an OTP, in this case when you provide the OTP pin they get a clear signal for robbing your money away. Hence, mediums like WhatsApp and social media are used for such information.

SBI in a detailed note alerted its bank holders and said, “The bank is aware of certain messages being circulated/forwarded via WhatsApp and Social Media, to the effect that our esteemed customers are getting messages advising about an OTP (One Time Password) in respect of a transaction (normally low value) not purported to have been originated by the miscreant.”

The bank assured its customer, "We would like to reassure our customers that nobody can access your account without the successful validation of 2FA(Two Factor Authentication)."

"We again request our customers not to share their card, account, bank credentials or OTP at any cost with any individual.”

In case of any suspected fraudulent activity/transactions on your card/ account then SBI says, “please feel free to report the incident immediately by calling at 1-800-111109.”