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As per the RBI booklet, people should never share OTP and CVV information with anyone during financial transactions
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Reserve Bank of India has issued an alert for those using the digital platform. In view of the increasing cases of digital frauds in recent years, the Central Bank of the Government of India has asked people not to share confidential banking information like OTP and CVV with anyone.
RBI released a booklet on Banking Fraud on Monday, saying that fraudulent transactions are trying new ways to take away the hard earned money of common people. Therefore, people need to be very careful. According to this, newcomers who become part of the Digital Technology Ecosystem are quick to fall prey to this fraud.
The booklet released in the public interest, gives details of the methods used for financial fraud, as well as suggested ways to avoid them. According to this, people should never share OTP and CVV information with anyone during financial transactions.
In this booklet prepared on the basis of analysis of fraud complaints, the central bank has said that people are easily vulnerable to financial fraud by knowingly or unknowingly giving confidential information during their transactions.
According to the Reserve Bank, bank officials, financial institutions, RBI or other bodies never ask for confidential information from their customers and if someone does so, then people should be alert.