In order to ease the load of EMI during the lockdown period, a three-month moratorium on all kinds of payments, loan and credit card bills has been publicly declared by RBI between March 31 and May 31. This new scheme is where the fraudsters found room to outwit citizens of their earnings.
How is EMI moratorium scam is carried out?
The fraudster will give you a call to verify your personal details such as an address, date of birth and Aadhar number. The call appears extremely real and a common man will not be able to suspect its authenticity. Once he wins your trust, he will explain you RBI’s decision of a 3-month moratorium on EMIs and credit cards.
He will put across all the terms and conditions and appear supportive enough throughout the call. The scam caller will next present you with an online form in which you will be required to fill in details such as card number, CVV and expiry date. On top of that, the caller will inform you that you will receive an OTP on your number which you are required to share with him in order to validate your ‘so-called’ moratorium.
The moment you share your OTP, the fraudster’s online transaction completes and your account is debited.
How you can save yourself?
The lockdown presents an ideal time for these fraudsters to play their dirty games as you, the victim will be in no position to take a solid action as you are contained inside your homes. In order to save yourself from such incidents, you must bear certain things in mind.
Never share your personal details and OTP with anyone. They are meant to be confidential. As a safety tip remember that the mails from an authentic bank will never be from a personal or unknown email ID. Be cautious to not click on any external links that you receive on your email or SMS as they are commonly phishing emails.