Scammers are always finding new ways to harass and steal from the general public. A recent case highlighted by the State Bank of India (SBI), India’s largest public sector bank, involved scammers sending fake WhatsApp messages to SBI customers. The messages claimed their Aadhaar number wasn’t updated and that their YONO app would be deactivated.

Here is more to it.

SBI Customers receiving Fake WhatsApp Messages

In a post on X, SBI shared a screenshot showing a large SBI YONO logo at the top. Below, the message read: “Dear SBI customer, this is to inform you that your SBI YONO account will be blocked tonight due to your Aadhaar not being updated in your account.  We regret the inconvenience and request you to install our official SBI Aadhaar update APK and update your Aadhaar to proceed with KYC immediately.” At the end, the message contained an “SBI KYC AADHAR UPDATE.apk” file.

https://twitter.com/TheOfficialSBI/status/2019737786346291534

This is clearly a fake attempt to scare users into downloading a malicious app and is not the first time scammers have used such tactics—back in 2024, they sent messages claiming reward points had expired, again with a fake APK file.

SBI has confirmed that they will never ask customers to download apps via APK files or threaten them in this way.  If you receive such messages, it’s best to block the sender and report the incident. You can contact the cyber fraud helpline at 1930 or submit a complaint online via the official cybercrime portal.

The post SBI Shares Details of Fake WhatsApp Messages Claiming YONO App Deactivation Due to Unupdated Aadhaar appeared first on The Tech Outlook.

In the current world scenario, social media is being filled with deepfake videos carrying misleading and wrong information, and one such video talking about an AI-based platform supported SBI and showcasing lucrative investment schemes was shared online recently. SBI has come forward and confirmed that this video is not true and warns both its customers and the general public of deepfake videos.

Read more about it below.

‘SBI-Supported AI-Based Platform’ for Lucrative Investment Schemes is a New SCAM

Via its official X handle, the State Bank of India (SBI) has released a public caution notice asking its customers and the general public to be aware of deepfake videos. The notice has been issued in the context of a deepfake video that was shared online across social media platforms recently, that revealed a new scam. This video falsely claimed that an AI based platform was launched in the country with the support of SBI, and in association with the Government of India and a few MNCs, and it promises high returns through certain investment schemes.

In the public caution notice shared, SBI clarifies that it does not support or endorse any such schemes that promises unrealistic and unusually high returns, and just like all other deepfake videos that the public has come across in the past, this video also misuses technology to lure people into frauds and scams.

SBI also adds that before proceeding with such financial schemes and plans, it is always best to check for the same on the official website of SBI or on any of its social media handles. Similarly, customers and the general public can also contact or visit their nearest SBI branch to get a better clarity on the matter – whether it is real or a scam.

The post SBI Warns its Customers and the General Public of Deepfake Videos: AI-Based Platform for Lucrative Investment Schemes is a SCAM appeared first on The Tech Outlook.

Fake website scam is one of the most common forms of scam in India, and so far many have already fallen into such traps and even so, the number still keeps rising everyday. The State Bank of India (SBI) via its official X handle has now shared a few measures that users can take and make sure of – to identify fake websites and thereby to safeguard themselves from scammers.

Read more about it below.

Fake Website Scams? Identify Them With These Measures

Just like in the example given below, most of us when needed to access a service usually search for it online and go directly onto the first website that pops on the screen. The seamless process and the rush people might be in would turn out as benefits for the scammers, and without any hassle, they are able to get all the valuable information from the  customer itself. Before even realizing that something is wrong, the account of the customer will be entirely washed out without a trace of any penny.

Before falling prey or turning into victims of such malicious traps, here are a few things that users or customers can keep in their mind. Users must always double check the URL of the website accessed prior to proceeding with any service, and never click on or trust advertisements blindly. It is always best to make use of the official app or the bookmarked website, and never rush while filling in the personal details and take the time to understand what is happening on the screen. Also, if the website starts with ‘http’ instead of ‘https’, leave it as it is obviously a fake website.

To note, if by chance you become subjected to any such cyber crime, report the incident by calling the helpline number – ‘1930’ or by visiting ‘cybercrime.gov.in‘.

The post SBI Warns its Users of Fake Websites Created by Scammers: Here’s How to Identify Them and Stay Safe appeared first on The Tech Outlook.

In a commendable act of vigilance, an employee at the State Bank of India (SBI) has successfully prevented a 78-year-old doctor from losing a staggering Rs 30 lakh to a fraudulent scam. The incident took place at SBI’s Lothkunta branch in Hyderabad, where the senior citizen had approached the bank to close his Senior Citizen Savings Scheme (SCSS) account and transfer the large sum to his savings account.

The bank staff, led by Branch Manager Naveen Kumar, became suspicious when they noticed the elderly man receiving persistent calls from individuals pressuring him to complete the transaction. When questioned, the man explained that the money was urgently needed for his wife’s treatment at a private hospital following a brain haemorrhage. However, further inquiries revealed that there was no record of a patient by that name at the hospital. Sensing something amiss, the bank staff immediately alerted their Regional Business Office and notified the police.

The elderly customer later confessed that he had been duped by a man claiming to be a Delhi Customs Officer, who told him that a parcel containing 16 passports and ATM cards had arrived from Malaysia in his name. The scam escalated when another person, pretending to be a senior officer from Delhi Crime Police, accused him of being involved in a massive Rs 88 crore money laundering case. The fraudster insisted that the doctor close his SCSS account and transfer the entire amount to avoid legal repercussions.

Thanks to the swift action of the SBI staff, the senior citizen was saved from losing his hard-earned money. The bank has urged customers to remain alert and report any suspicious activities immediately. Customers can reach out to the government’s dedicated cybercrime portal at www.cybercrime.gov.in or call 1930 to report digital frauds.

The post SBI Employee Saves 78-Year-Old Doctor from Falling Victim to Rs 30 Lakh Scam appeared first on The Tech Outlook.

The bank staff, led by Branch Manager Naveen Kumar, became suspicious when they noticed the elderly man receiving persistent calls from individuals pressuring him to complete the transaction. When questioned, the man explained that the money was urgently needed for his wife’s treatment at a private hospital following a brain haemorrhage. However, further inquiries revealed that there was no record of a patient by that name at the hospital. Sensing something amiss, the bank staff immediately alerted their Regional Business Office and notified the police.

The elderly customer later confessed that he had been duped by a man claiming to be a Delhi Customs Officer, who told him that a parcel containing 16 passports and ATM cards had arrived from Malaysia in his name. The scam escalated when another person, pretending to be a senior officer from Delhi Crime Police, accused him of being involved in a massive Rs 88 crore money laundering case. The fraudster insisted that the doctor close his SCSS account and transfer the entire amount to avoid legal repercussions.

Thanks to the swift action of the SBI staff, the senior citizen was saved from losing his hard-earned money. The bank has urged customers to remain alert and report any suspicious activities immediately. Customers can reach out to the government’s dedicated cybercrime portal at www.cybercrime.gov.in or call 1930 to report digital frauds.

The post SBI Employee Saves 78-Year-Old Doctor from Falling Victim to Rs 30 Lakh Scam appeared first on The Tech Outlook.

The State Bank of India (SBI), India’s largest public sector bank, has issued a critical security advisory warning customers about an ongoing cyber fraud scheme targeting account holders through fake reward point messages.

The fraudsters are reportedly sending deceptive messages via SMS and WhatsApp, attempting to lure customers with promises of reward points redemption. These messages typically contain links to download APK files or claim supposed reward points, mimicking official bank communications.

The bank has identified a new wave of fraudulent messages circulating among customers. A sample of the deceptive message reads:

“Hi User Your -S.B.I YONO MC R’ewards Point E’xpire Rs.7854 today P’lease C’onvert to cash click link https://bitly.ws/3e5Cd”

pic.twitter.com/8Yu7Bsv2F7

— State Bank of India (@TheOfficialSBI) November 9, 2024

How the Scam Works

The fraudsters are employing sophisticated social engineering tactics:

1. Sending messages claiming to be from SBI YONO, the bank’s official digital banking platform
2. Creating a false sense of urgency about expiring reward points
3. Providing shortened links that redirect to phishing websites
4. Attempting to deceive customers into sharing sensitive banking information

The bank has advised customers to:

• Never click on links received through SMS or WhatsApp claiming to be from SBI
• Be particularly suspicious of messages containing shortened URLs (like bitly links)
• Avoid downloading any APK files related to bank services
• Remember that SBI never sends reward point redemption links through SMS
• Report suspicious messages to the bank’s official fraud reporting channels
• Conduct all banking activities only through official SBI applications available on legitimate app stores

The post Fraudsters Target SBI Customers with Fake YONO Rewards Message appeared first on The Tech Outlook.

Online frauds have increased a lot in the recent few years especially when fraudsters start using the name of banks to carry on with their fraudulent activities. One such case has come up once again, as recently a user on Instagram with the user name Harpreet Kaur shared some videos on the platform claiming association with SBI.

In the video, the user talked about schemes that will get you high returns from SBI. Well, people who are interested in investments are sure to take an interest in such kinds of schemes. But let us tell you this video was just a honey trap as SBI has yesterday officially shared a public caution notice on the X platform.

ALERT – PUBLIC CAUTION NOTICE pic.twitter.com/2u0CVcr0Rg

— State Bank of India (@TheOfficialSBI) November 7, 2024

In the notice, the bank has clearly mentioned that they have recently identified these fake videos circulating on social media claiming association between Harpreet Kaur and State Bank of India, while the voiceovers used in the videos are also said to be fake and the videos are an attempt to mislead the public into fraudulent investment schemes.

SBI has denied any association with Harpreet Kaur and has also clarified that they do not endorse the content of these videos or any social media profiles/pages/channels attempting to lure the public into fraudulent schemes.

SBI has also mentioned a few important points to be noted in the notice

• Beware Of Fake Promises- Do not engage with such videos or any content that falsely promises high returns in the name of SBI
• No unrealistic returns- SBI does not offer or support any investment schemes promising unrealistic or unusually high returns
• Protect your personal information- Never share personal details or transfer funds based on unverified claims
• Stay Vigilant- Be cautious of scams and misleading information
• Use the official SBI channel- For any investments or official information, always use SBI official apps, website https://bank.sbi, or visit your nearest SBI branch
• Report Fraud- If you suspect fraudulent communication, report it at https://sancharsaathi.gin
• Call 1930 or visit https://cybercrime.gov.in to report investment scams

The post SBI Issues Caution Notice For Fake Videos Circulating Over Social Media Claiming Association Between SBI And Harpreet Kaur appeared first on The Tech Outlook.

Today, one of our team members received a suspicious message informing him that his SBI net banking had been disabled. The first thing that came to his mind was that he doesn’t even bank with SBI, so how could he have received such a message? This is a clear indication that the message is a completely bogus scam.

We were able to identify it because, as per the new TRAI norms, one must first register with the DLT platform to send an SMS with the name headers. Scammers are now finding it difficult to send messages from portals because TRAI is more vigilant. However, scammers are resorting to using phone numbers to send messages to people. One of our team members received such a message, and you can find a screenshot of it.

As you can see, banks typically use sender IDs like AXISBNK or SBIBANK in their messages. However, in this case, the message was sent from a phone number: +91 8987921867.

The message in the SMS reads “Dear customer your SBI net banking will be suspended by today. Please update your pan card now visit the link”

If you have received a message claiming that your net banking has been disabled, it is important to be cautious as it could be a scam. Here are some steps you can take to make sure you stay safe:

1. Do not click on any links or provide any personal information. Scammers often use phishing techniques to trick you into revealing personal information like your login credentials, credit card numbers, or other sensitive information.
2. Verify the message by contacting your bank directly. Use a phone number or email address that you know to be legitimate to contact your bank and ask them if they have sent you any such message.
3. Keep an eye on your bank account activity. Monitor your account for any unauthorized transactions or suspicious activity. If you notice anything out of the ordinary, contact your bank immediately.
4. Report the message to the relevant authorities. If you suspect that the message you received is a scam, report it to your bank and to your country’s fraud prevention agency.

Remember to always be cautious when receiving messages that ask you to provide personal information or click on links. Scammers often use scare tactics or urgent language to trick you into taking action quickly, so take a moment to verify the message before responding.

The post Did you receive a message recently that your netbanking has been disabled? IT MIGHT BE A SCAM appeared first on The Tech Outlook.

Elon Musk has been in the news since the announcement of buying Twitter for $44 Billion dollars. This came as a shock for some while followers of ELonMusk is rejoicing in this victory. Some Indians have also started trending that Elon Musk should buy SBI (State Bank Of India).

The State Bank of India, based in Mumbai, Maharashtra, is an Indian multinational public sector bank and financial services statutory entity. SBI is the world’s 43rd largest bank and the only Indian bank in the Fortune Global 500 list of the world’s largest firms for 2020, ranking 221st.

However, because of the service provided at the SBI, some users have also shared some hilarious memes also. Like in one of the memes one user said that if Elon musk tries to buy SBI, he will not be able to buy it. Because they will be at the Lunch Break.

Ever since the news of him buying Twitter came out, he has since been tweeting I will buy Coca-Cola and will mix cocaine in it.  So let us just wait and see what will Elon be buying next but surely it won’t be SBI.

The post What will happen if Elon Musk try to buy SBI? appeared first on The Tech Outlook.

SBI, India’s largest state lender, announced on Monday that it has generated $500 million in three-year funding through its IFSC Gift City branch. SBI said in a statement that this is the first offshore USD Secured Overnight Financing Rate (SOFR) connected syndicated loan it has raised through its Gift City office.

Despite continuous instability in financial markets due to geopolitical issues and predictions of rate hikes by the US Federal Reserve and other central banks across the world, SBI said its strong presence in international markets enabled it to secure extremely precise pricing.

The facility will cost $400 million, with an additional $100 million available as a greenshoe option. The lender, on the other hand, did not provide pricing information.

SBI raises $500 million offshore loan through IFSC Gift City branch

Read @ANI Story | https://t.co/REl7OSc5bw#SBI pic.twitter.com/7JEGGPaW0m

— ANI Digital (@ani_digital) April 18, 2022

The bank said in a statement that this was another step toward IFSC Gift City being an international financial center and that SBI’s Gift City branch had become the largest in the IFSC. The bank’s commitment to developing IFSC Gift City as an international financial center has taken another step forward, according to the statement.

The joint lenders for this issue were MUFG, Bank of America, and JP Morgan, with First Abu Dhabi Bank acting as the facility agent. During tumultuous markets, SBI’s shares fell 1.45% to Rs 510 per share on Monday.

SBI recently announced a ten-basis-point increase in the marginal cost of lending rate (MCLR) on loans. The tenor-based MCLR interest rates go into effect on April 15, 2022. Existing and future borrowers may see their EMIs for home, automobile, and other loans rise as a result of this.

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