What it looks like
"Dear customer, your bank account will be blocked today due to pending KYC. Update now: [link] or call our KYC officer." (Illustrative)
How the kyc update scam works
- You get an SMS, call, WhatsApp or email saying your KYC has expired and your account, wallet or SIM will be blocked.
- It gives a link, a phone number, or asks you to install an app to 'complete KYC'.
- The link opens a fake bank page, or the app gives the caller remote control of your phone or reads your SMS.
- You are asked for card details, login details or an OTP, often 'to verify'.
- With these, the scammer logs in and moves money out, often in several quick transactions.
Red flags
- Threat that your account or SIM will be blocked today
- A link from an unknown number or a personal mobile number
- Request to install an app such as a screen-sharing or 'KYC' app
- Asking for OTP, PIN, CVV or password
- Caller insists you stay on the line and not visit the branch
- Spelling mistakes or a sender name that looks slightly off
What to do
- Do not click the link or call the number in the message.
- Check KYC status only through your bank's official app, website or branch. Get the number from the official website or the back of your card.
- If you shared details or installed an app, call your bank to block cards and net banking, and uninstall the app.
- Report at once: call 1930 (National Cyber Fraud Helpline) or file at cybercrime.gov.in. Speed matters, because reports help freeze money in transit.
- Report the fraud SMS, call or WhatsApp on Sanchar Saathi's Chakshu facility.
Protect your family
Tell parents: the bank will never call to ask for an OTP, and nobody needs to install an app to update KYC. Ask them to call you or visit the branch before doing anything.
Also known as: KYC expiry scam, account blocked KYC SMS, Paytm/bank KYC fraud
Questions people ask
Will my bank account be blocked if I don't update KYC?
Banks do ask customers to re-do KYC periodically, but they tell you through official channels and give time. Confirm directly with your branch or official app, never through a link in an SMS.
Does RBI or a bank ask for OTP for KYC update?
No. RBI warns customers never to share login details, card details, PIN, password or OTP with anyone.
I clicked a KYC link. What now?
If you did not enter details, close it and run a security check. If you entered details or an OTP, call your bank to block your accounts, change passwords, and report at 1930 or cybercrime.gov.in immediately.