SBI Cautions Users Against APK Fraud Over Fake Reward Point Messages

The State Bank of India (SBI) recently warned its customers about receiving fake messages via SMS and WhatsApp. The bank has cautioned the customers about fake reward point redemption notifications being used for cyber fraud. State Bank of India offers a corporate-wide loyalty programme to its users for making regular transactions through a variety of banking channels. The value of each point is currently at 25 paise. Multiple customers often don’t redeem these reward points for several months and this leaves enough balance for scammers to exploit.

SBI has thus warned its users against clicking on any links sent by SMS or WhatsApp, nor downloading any applications or files that seem suspicious.

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Growing Online Frauds

Due to an increasing number of spam and cyber fraud cases, SBI has advised its users to exercise utmost caution. To dupe people out of their money, scammers send fake APK links to users to redeem reward points.

SBI has stated that it never sends links over SMS or WhatsApp to claim reward points.

What is APK Fraud?

APK refers to the Android Application Package - an application file format used by the Android operating system to distribute and install apps across devices. Android service also allows its users to install third-party mobile apps via APKs, usually the ones that are not available via the Google Play Store. APKs make it possible for cybercriminals or hackers to use users’ Android devices by making them install APKs or by bugging a legitimate application.

Earlier this month, SBI stated in a post on X (previously known as Twitter) that cybercriminals are sending APKs and SMS messages to redeem SBI reward points. The bank said that it would never send links or unsolicited APKs over SMS or WhatsApp to redeem reward points.

The post by SBI noted: “Attention SBI Customers: Beware of fraudsters. It is observed that fraudsters are sending APKs and messages over SMS or WhatsApp to redeem SBI reward points. Please note that SBI will never share links or unsolicited APKs over SMS or WhatsApp. Do not click on any such links or download unknown files. Stay Safe and Secure!!.”

Here’s how you can redeem SBI reward points:

As per SBI’s FAQ page, customers can automatically enrol in the SBI Rewardz Programme at - rewardz.sbi/.

Here’s how to register on this portal:

- Visit SBI’s - rewardz.sbi/ page and select the “New User” option

- Once registered, you should enter the SBI Rewardz customer ID

- You will receive a one-time password (OTP) on your registered mobile number

- After putting in the OTP, you will be automatically directed to a page wherein you can verify your personal information and start the reward redemption process.