KYC Scam Alert: 83-Year-Old Man Loses Life Saving In Online Fraud; Here’s How It Happened

Sinha received a treacherous call deceiving to be from the bank where he held an account. The agent called Sinha and disguised as bank official stationed at “table number 3" of the same branch where Sinha held his pension account.

Kolkata: An 83-year-old retired government official from West Bengal’s Kolkata fell victim to an online scam and lost his life savings of Rs 2.5 lakh. The victim, named S.P. Sinha, residing in Thakurpukur, had diligently visited his bank branch for all transactions and information until one day when an apparent call from the bank made him lose his life savings.

Reportedly, Sinha received a treacherous call deceiving to be from the bank where he held an account. The agent called Sinha and disguised as bank official stationed at “table number 3″ of the same branch where Sinha held his pension account, according to Metro.

The caller asserted that he was reaching out to verify Sinha’s KYC (know your customer) details online. Since Sinha had been visiting the bank and the same table for his work, he got convinced and agreed to follow the caller’s instructions to update his KYC online.

Sinha said, “On November 11 (the day before Diwali), I received a call in the afternoon. The man said he was calling from the bank (the branch where Sinha has his pension account).” Sinha 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,” reported Metro.

However, he eventually started facing difficulties in the process as everything was technical on the mobile. Trusting the caller’s legitimacy, Sinha handed over the phone to his 11-year-old grandson, assuming the younger generation might navigate the online procedures more adeptly. However, the call ended with Sinha discovering a staggering debit of Rs 2,57,650 from his account, along with a loss of access to his fixed deposits and recurring deposits.

NOTE: Government or prominent institutions like banks do not initiate financial transactions over phone calls and frequently indulge in follow up messages to create awareness about not to disclose account details to anyone over call.

How to update your KYC online without visiting the bank

• Log in to your bank’s online banking portal.
• Locate the ‘KYC’ tab and click on it.
• Follow the on-screen instructions and provide your details, including your name, address, and date of birth.
• Upload scanned copies of Aadhaar, PAN, and the required documents. Ensure that you scan both sides of your government ID cards.
• Click on the ‘Submit’ button. You will receive a service request number, and the bank will keep you updated on the progress via SMS or Email, as applicable.

Notably, in some cases, you may need to visit a bank branch to update your KYC documents. This is usually necessary if your KYC documents have expired or are no longer valid.