Understand Cyber Fraud and Protect Your Bank Account
What is cyber fraud?
Cyber fraud occurs when criminals use calls, messages, email, social media, fake apps or websites to steal money, identity information or banking credentials. They may impersonate a bank, police officer, government department, courier company, relative, KYC agent or investment adviser and then create urgency, fear or temptation.
What is a money mule account?
A money mule account is a bank account used to receive, hold or move money connected with fraud. Criminals may recruit account holders through commission offers, work-from-home jobs, online loans, gaming, trading or a request to process “just one transaction.” Allowing someone to use your account, UPI ID, SIM, ATM card or mobile banking can lead to an account freeze, financial loss and possible legal consequences—even when the account holder did not fully understand the scheme.
Warning signs
- Pressure such as “your KYC will expire”, “your account will be blocked”, “you won a prize” or “pay immediately”.
- A request to open an unknown link, install an APK/app, or use screen-sharing or remote-access software.
- Any request for an OTP, UPI PIN, ATM PIN, CVV, password, login or photograph of identity documents.
- A demand to scan a QR code or enter a UPI PIN in order to “receive” money.
- An offer of commission for receiving money and forwarding it, withdrawing cash or buying cryptocurrency.
- Instructions to keep the matter secret or avoid contacting family, the bank or police.
Seven rules for safer digital banking
- Pause before responding to an unknown call, message, link, file, QR code or social-media offer.
- Verify independently using the organisation’s official website, app or the number printed on your bank card.
- Keep OTPs, PINs, CVVs, passwords and banking logins private.
- Never rent, lend or sell access to your bank account, UPI ID, SIM, ATM card or internet banking.
- Keep devices and apps updated; install apps only from official stores.
- Read the recipient name and amount before authorising a payment, including UPI collect requests.
- Report suspicious activity immediately through your bank’s official helpline.
If money has been lost, act immediately
For Customer Service Point operators
- Display the awareness poster where every customer can read it.
- Take informed consent and let the customer enter any OTP or PIN privately.
- Never write down, photograph or retain a customer’s credentials.
- Escalate unusual activity through the bank’s prescribed process.
- Guide a victim to the bank, 1930 and cybercrime.gov.in—not to paid “recovery agents”.
Frequently asked questions
Do I need to scan a QR code or enter my UPI PIN to receive money?
No. Scanning a QR code and entering a UPI PIN normally authorises a payment from your account.
Can I lend my bank account to someone I know?
No. You may not know the source of the funds, and your account could become connected with fraud.
What information should I keep ready when reporting fraud?
Keep the bank/wallet name, account or UPI details, transaction ID, date, amount, beneficiary information and screenshots available.
Will reporting guarantee that my money is returned?
No. Recovery cannot be guaranteed, but immediate reporting gives banks and law enforcement the best opportunity to trace or stop funds.