Fake job, fake loan – real fraud! 🚫

Spot the signs before it's too late

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Dear Customer, You never know who's hiding behind every offer that comes your way! So make sure you stay safe by avoiding the common frauds, mentioned below: Here's how the Loan Fraud happens: • Fraudsters will contact you via call, email, or SMS; claiming to be from a reputed bank. • They will inform you about a limited period loan offer providing low interest rates! A fake loan sanction letter is sent using the bank's letter head. • Once you accept the offer, the fraudster will ask you to pay various fees like processing fee, legal fee, etc. to the bank account provided by the fraudster. • The funds obtained from you are quickly transferred to other accounts to prevent recovery by the victim or bank. These accounts will be in the name of mules or other fraudulent entities. • In some cases, the fraudster might visit you using a fake bank ID card and collect the security/processing fee cheque, then change the payee name/amount and withdraw the cash. Here's how the Job Fraud happens: • The fraudster will contact you for a part-time job opportunity that includes a simple task - 'Like' videos and earn Rs. 50 for each like. • A link and UPI ID/mobile number is then shared, asking you to invest a small amount of money with a promise to assign work. • Once you transfer the funds to the fraudster's account, a 'task' is assigned. After completing the task, the fraudster may transfer some commission amount to you and may advise you to transfer/invest a higher value amount to move to the next task to earn even higher returns. • To withdraw the funds/income, you may be asked to pay a further amount as GST/tax. This way you end up transferring excess amount for a job offer. • The fraudster will then block the link and other social media handles used to interact with you. Be vigilant, and always verify every offer with the concerned authorities to avoid falling prey to fraud. Do not share your bank details or any sensitive information with anyone, even if they claim to be from the cyber cell or a bank representative. Click here to read more on Safe Banking tips To report a fraud or any suspicious activity, call 1930 or our fraud reporting number- 1800 209 0000 or visit the nearest bank branch. Best regards, Team Kotak Mahindra Bank Copyright & Disclaimer Privacy Policy Please do not reply to this mail as this is an automated mail service.

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