Dikhyaa Mohanty 
The Reserve Bank of India (RBI) cautioned the public not to fall prey to fraudulent communication for KYC updation by sharing debit and credit card details and OTPs. The RBI stated that it has been receiving numerous complaints and reports from customers who have been victims of fraud in the name of KYC updation.
According to the reports, the modus operandi in such cases is customers receiving unsolicited communication like calls, SMSes, emails and being asked to share personal details, account and login details, card information, PIN and OTP or install unauthorised or unverified applications for KYC updation using a link provided in the communication.
RBI further alerted that such communications are also reported threatening freezing or closure of accounts and if the customer gets fooled and shares information over phone or message, he or she is easily defrauded as the fraudsters get access to his account.
REs have also been advised that for those customer accounts where periodic updation of KYC is due and pending, no restriction on operations of such accounts shall be imposed till December 31, 2021, unless warranted under instructions of any regulator/enforcement agency/court of law among others.
