Phishing Alert Key on Computer Keyboard
Home ScamsPhishing Scams Reserve Bank Of India Phishing Scam

Reserve Bank Of India Phishing Scam

by Brett M. Christensen

Outline

Email purporting to be from the Reserve Bank of India claims that all Indian bank customers must update their account details to accommodate a new security system.

Brief Analysis

The email is not from the Reserve Bank of India and the claim that all Indian bank customers must update their online accounts is a lie. The message is a phishing scam designed to trick bank customers into submitting their account login details and other personal information to Internet criminals.

Example

Subject: All Indian Banks Customers Online News Update.

Dear Indian Bank Customer,Reserve Bank Of India, has lunched a new online security protection, for all banks in India, to reduce fraud and theft in various banking system.This is to enable all customer’s online banking in all Indian Banks to get protected and Secured.Reserve Bank Of India, has introduced a new online protection, called, “Netsecured”.It’s mandatory that all online banking customers in all various banks in India, must update with us to get his/her online bank account secured and protected.

Kindly follow the Official update website link below and select your bank to get your Account Secured and Updated.

Click on our official website below to get started.

[Link Removed]

Thank you for banking with India.
Reserve Bank Of India
Security Team.

[Link Removed]

 

Detailed Analysis

This message, which purports to be from the Reserve Bank of India, claims that it is mandatory that ALL Indian online banking customers update their account details to allow new security protection systems to be implemented. Recipients are invited to follow a link in the message to get started with the account update.
However, the message is certainly not from the Reserve Bank of India. And the claim that Indian bank customers are required to update their account details is just a trick to get people to click links in the email. Those who do fall for the ruse and click the link will be taken to the following page, which provides an “Online Banking Portal” listing a number of different banks:

Reserve Bank of India Phishing Scam

The user is instructed to click on the name of his or her own bank to complete the update process. Clicking any of the bank names opens further fake pages that ask users to login to their online accounts and provide account and credit card details and other personal information. All of the information submitted can be harvested by cybercriminals and used to hijack real bank accounts, commit credit card fraud and steal identities.

By using this ruse, the criminals are hoping to steal information from customers of a number of different banks. The Reserve Bank of India would never send an unsolicited generic email that required bank customers to follow a link and submit their personal information.

Phishing continues to be a very common criminal ploy that finds new victims all around the world everyday. Be wary of any unsolicited email purporting to be from a financial institution that claims that you must click a link or open an attachment to provide or update personal information. It is always safest to login to all of your online accounts by entering the account web address into your browser’s address bar rather than by clicking a link in an email. 

Importance Notice

After considerable thought and with an ache in my heart, I have decided that the time has come to close down the Hoax-Slayer website.

These days, the site does not generate enough revenue to cover expenses, and I do not have the financial resources to sustain it going forward.

Moreover, I now work long hours in a full-time and physically taxing job, so maintaining and managing the website and publishing new material has become difficult for me.

And finally, after 18 years of writing about scams and hoaxes, I feel that it is time for me to take my fingers off the keyboard and focus on other projects and pastimes.

When I first started Hoax-Slayer, I never dreamed that I would still be working on the project all these years later or that it would become such an important part of my life. It's been a fantastic and engaging experience and one that I will always treasure.

I hope that my work over the years has helped to make the Internet a little safer and thwarted the activities of at least a few scammers and malicious pranksters.

A Big Thank You

I would also like to thank all of those wonderful people who have supported the project by sharing information from the site, contributing examples of scams and hoaxes, offering suggestions, donating funds, or helping behind the scenes.

I would especially like to thank David White for his tireless contribution to the Hoax-Slayer Facebook Page over many years. David's support has been invaluable, and I can not thank him enough.

Closing Date

Hoax-Slayer will still be around for a few weeks while I wind things down. The site will go offline on May 31, 2021. While I will not be publishing any new posts, you can still access existing material on the site until the date of closure.

Thank you, one and all!

Brett Christensen,
Hoax-Slayer