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Beware of KYC Update APK File Scam

Beware of KYC Update APK File Scam

Beware of KYC Update APK File Scam

Read More: The Growing Threat of Digital Bank Frauds: Beware of KYC Update APK File Scam

In India, the rise of digital banking brings convenience but also a worrying trend of bank frauds. Cybercriminals exploit online platforms, tricking people into revealing sensitive details like passwords and account numbers through fake websites or phishing emails. This deception leads to significant financial losses and shakes people’s trust in banks. Despite efforts to boost cybersecurity, criminals keep finding new ways to cheat. To stay safe, it’s vital to update passwords regularly and keep an eye on bank transactions.

KYC Update APK File Scam

One of our readers encountered a new form of SCAM today and shared his thoughts with us. Mr. Ankit Kumar, manager in a well known public sector bank, received this WhatsApp message as shown in the picture below.

As you can see clearly in the picture above that this scamster is using WhatsApp to send message about updating KYC in his bank account. Along with the message, the scammer also sends an APK file that the receiver can download and install. The APK file will demand access of ‘Contacts, Call Logs, Messages, Camera, File Folders, Gallery, Microphone’ which is also completely normal for original banking applications.

This mobile number above shows the name as ‘Bank.’ This was of course to trick individuals into downloading the application. So, we did a very simple search. We ran this number into a mobile number search application and got the following result.

As you can see, this is not a bank’s number. This number belongs to some ‘Mahesh Chandra Jangid‘. Now, even if you have this number and name, you can not do anything about it, because this might be a fake number or a fake name as well. The moment the scamster successfully scams someone, he will destroy the sim and move on. Because sims are free and Aadhaar cards are easily available.

What will happen if someone installs this application?

As Mr Ankit said, when someone installs this application, they will generally not even know what is happening in the background. The application will search all sms received and sent along with all the data that is there in your smartphone. This app can also help the scammer to access the original banking application in your phone and transfer all your money to some other source.

How can one be safe from digital banking frauds?

There is a rule of the thumb.

  1. Do not share OTPs with anyone.
  2. Do not give your ATM card and pin to someone else.
  3. Do not save your bank account details in your phone as contacts or on WhatsApp.
  4. Do not tell any personal information over telephone, visit the branch if someone asks details. (No matter how urgent).
  5. No not install any software from untrusted sources.
  6. Do not use someone else’s computer or mobile to login to your banking account.
  7. Do not develop the greed to earn fast money or fast loan, visit your bank branch for any banking need.

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