Recently the Reserve Bank of India has issued warning against the use of mobile numbers in new type of fraud cases. According to the RBI notice, mobile numbers similar to that of toll free numbers of banks and other financial organisations are being used to do the fraud.
The notice stated that a fraud is being committed using mobile numbers similar to banks’ toll free number. Mobile numbers resembling a Supervised Entity’s (SE) Toll Free number are registering mobile numbers in the name of that SE on caller identification mobile apps such as TrueCaller. The State Bank of India (SBI) has uploaded the notice issued by RBI‘s Department of Supervision, Central Office Cyber Security & IT Risk Group (CSITE) on its website for its customers.
The fraudsters keep mobile numbers similar to that of the toll free numbers of financial institutions and save true caller app with the financial institutions. For example, if the calls from bank comes from the number 1600-123-1234,…