Do not fall into the trap of fraudsters, RBI has issued an alert"

In today's time there are many people who easily fall prey to fraudsters. In such a situation, after the high amount of money scams came to the fore, the Reserve Bank of India has issued a warning on its part for possible fraudulent activities. Along with this, the general public has been informed that he never contacts the customer through unsolicited phone calls or emails or asks for money or any other kind of personal information is also not sought by the central bank. Yes, recently RBI has issued a release. It states that, 'The Reserve Bank shall not maintain money/foreign exchange or any other form of funds to any person or open an account in the name of persons'.

Simultaneously, the Reserve Bank has urged the public to remain vigilant and not fall prey to frauds or scams committed by persons impersonating employees of the Reserve Bank of India. Let us inform you that this has been done after the Reserve Bank of India, on several earlier occasions, “not to fall prey to fictitious offers/lottery winnings/cheap money remittances in foreign currency from abroad by so-called foreign entities to the “members of the public”. Comes after warning. Individuals or residents of India acting as representatives of such entities/individuals. Yes and explaining how frauds happen, the Reserve Bank has said that “fraudsters send lucrative offers to gullible people through letters, e-mails, mobile phones, SMS etc. In order to believe such offers, communication is often sent to / from. Letterhead/website which looks like some public authority like Reserve Bank of India.”

Not only this but in addition, the proposals are reportedly signed by the top officials/senior officials of such authorities. During this, the names of the officers may be correct but their signatures are fake. The offer document will contain the contact details of a so-called RBI officer working in any department of the Reserve Bank/Public Authorities, as detailed in the RBI release. The fraudsters initially ask potential victims to deposit small amounts due to processing fees/transaction charges/tax clearance charges/conversion charges, clearing charges etc. The victims are then asked to deposit the money in a specified account. On the other hand, fraudsters often have multiple accounts in the names of individuals or proprietary entities in different bank branches to collect such charges.

During this the fraudsters persuade genuine but gullible account holders to lend their accounts for such fraudulent activities on the promise of receiving some commission. Once the initial amount is deposited, more money is demanded with more official concrete reasons. On the other hand, after depositing a huge amount in these accounts, the fraudsters withdraw the money or transfer it abroad and disappear leaving the victims in the lap. Till now many residents have become victims and have lost huge amount due to such bogus offers.

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