Bank Fraud Warning: Elderly Man Verifies KYC Data, Loses Life Savings Moments Later – News18

What if you happen to acquired a name out of your native financial institution department to confirm your KYC (know your buyer) particulars however moments later, you find yourself shedding your complete financial savings in your financial institution? Yes, that is precisely what occurred to an 83-year-old retired authorities personnel based mostly out of Kolkata, West Bengal.

This, after all, is a well-liked rip-off, and the mentioned particular person, S.P. Sinha, misplaced his Rs 2.5 lakh in financial savings to fraudsters pretending to be financial institution staff.

As reported by Metro, the person visited his financial institution department for all his transactional wants, however at some point he acquired a name from his financial institution, and to earn belief, they went into the small print by informing Sinha that they have been calling from the desk quantity 3 of the financial institution the place the sufferer had his pension account.

Now, as luck would have it, Sinha had beforehand visited desk quantity 3 for his work, and therefore obtained satisfied that the caller was real and needed to rightly confirm his KYC particulars. As a end result, the person ended up following the scammers’ instructions.

“On November 11, I received a call in the afternoon. The man said he was calling from the bank (pension account),” Sinha mentioned.

He additional added, “He also mentioned my account number. When I said the bank was closed that day, he said only the ‘verification’ section was open and that I needed to update my KYC.”

Later, resulting from him not being tech-friendly, Sinha handed over the gadget to his 11-year-old grandson, after which moments later, he realized that his account had been debited for Rs 2,57,650. Moreover, he additionally misplaced entry to his FDs and different investments.

This incident serves as a transparent indication of negligence. It’s vital to notice that banks don’t conduct transactions over telephone calls. For updating your KYC information, go to your financial institution’s official web site or go to the department for help. As a common rule, at all times reject suspicious requests acquired via calls or messages.