SBI Online Bank Frauds: Account holders warned about new phishing scam! Don't do this on onlinesbi.com

SBI Online Bank Frauds: Fraudsters are asking account holders to click on a given link to fish out bank details that are enough to execute online phishing through malware bytes.

SBI Online Bank Frauds: The State Bank of India has issued a warning to its account holders about a new kind of cybercrime taking place these days in the name of updating bank account information. Photo: Reuters

SBI Online Bank Frauds: The State Bank of India (SBI) has issued a warning to its account holders about a new kind of cybercrime taking place these days in the name of EMI moratorium or updating password or bank account information. SBI has warned customers not to fall prey to this scam. In this new kind of fraud, cybercriminals are sending SMS to the SBI customers asking them to update their SBI account by sending a link which after clicking lands them on a fake website that is a look-alike of the original SBI website - onlinesbi.com. But, in actuality, it's an online bank fraud trap where account holders are asked to click on a given link to fish out bank details that are enough to execute online phishing through malware bytes. Yes, SBI account holders end up losing a lot of their money.

SBI warned its customers through a tweet from its official Twitter handle saying, "Fraudsters are using new ways & techniques to commit cybercrimes. Here’s a new way people are scammed in India. If you come across any such instances, please inform us through e-mail to: epg.cms@sbi.co.in & report.phishing@sbi.co.in & also report on: https://cybercrime.gov.in/Default.aspx." The SBI tweet further revealed that fraudsters link will land on this fake website — onlinesbi.digital, which is not the official website of the SBI. They said that onlinesbi.digital is a fake website which is being sent in the link in the SMS. SBI advised its customers to avoid following such SMS and go to the official website onlinesbi.com, in case they want any information related to their bank savings account.

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Speaking on the kind of online fraud about which the SBI has warned its customers Pawan Duggal, a New Delhi-based cybercrime expert said, "During COVID-19 lockdown, cybercriminals are executing their bank frauds in three stages — phishing, identity theft and online bank fraud." Duggal said that during COVID-19 pandemic, cybercriminals are sending phishing SMS and emails through identity theft by posing themselves like a big government institutions or any other institutions as we are witnessing in the case of SBI. Once, the identity is established, a good number of targeted audience is expected to click on the given link in SMS or emails. once,t the given link is clicked on, the online bank fraud becomes operational through malware attack.

See SBI tweet below:

Fraudsters are using new ways & techniques to commit cybercrimes. Here’s a new way people are scammed in India. If you come across any such instances, please inform us through e-mail to: epg.cms@sbi.co.in & report.phishing@sbi.co.in & also report on: https://t.co/L3ihBoE1kS #SBI pic.twitter.com/O7gXx7QhlQ

— State Bank of India (@TheOfficialSBI) April 11, 2020