Comments
The deferment of Equated Monthly Installments (EMIs) on all term loans and credit cards has now come handy to the fraudsters.
As there is difficulty in approaching banks to request for deferment on due to lockdown, fraudsters are now calling bank customers claiming that they are bank's representatives and asking details and OTPs.
“In the last four days, I got over dozen calls which are apparently fake offering me instant refund of my home loan EMI which was deducted last month,'' B S Rohit, who works for city-based software firm told BusinessLine .
The large amount of confusion created due to lack of uniform policy among banks in extending the facility in the absence of clarity from RBI is also being used for online frauds, said a public sector bank functionary.
“ Fraudsters have started a new modus operandi to gain access to your bank details. Imposters may contact you help postpone your EMI payments,'' Axis Bank said in an advisory.
The One Time Password (OTP), password, or PIN related to one's bank account should never be shared with any one as banks don't ask them over phone or online, it said.
As part of Covid-19 relief package, the Government had imposed a moratorium on EMIs of all term loans with effect from March 1, 2020 to May 31, 2020. This is also applicable to credit card payments.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.