New Cyber Threat! ICICI Bank Issues Cautions; Here’s What You Can do

Private sector lender ICICI Bank issued a cautionary advisory to all its customers calling for vigilance against malicious links and applications that are circulating on various platforms such as WhatsApp, e-mail, etc. The bank reported instances where cyberfraudsters are targeting customers with deceptive tactics to obtain confidential information such as OTPs and siphon off funds. The malicious software will forward messages from customers' mobile devices upon registration on payment apps, and forward OTPs and other sensitive information without authorisation.

It shared a video on platform X yesterday illustrating a scene where a customer received a text message on his phone. The message says, "Dear ICICI bank customer your account will be blocked today. Update PAN card for KYC verification. Login with net banking. Click (the purported link)". This is a common technique employed by phishers known as "phishing bank SMS," in which cyber fraudsters scare people by saying that their bank account has been suspended and asking them to update their KYC or PAN by clicking on the link provided in the SMS.

Also Read: Axis Bank Credit Card Users Hit With Unauthorised International Transactions; What Should Customers Do?

Here ICICI Bank warned that clicking on such links will lead to the installation of malicious software or applications on your device, their phone is hacked and their money is lost. The application will steal your data that can be used to steal your funds.

ICICI Bank stressed the importance of customer vigilance and cautioned against installing any suspicious or malicious applications on their smartphones.

ICICI Bank clarified that it never sends SMS or WhatsApp messages to customers asking them to call a particular mobile number or download any application; Times of India said citing one of the bank's advisory issued yesterday.

Along with the advisory, ICICI Bank shared a set of safety tips aimed at which customers should follow to maintain their device's security.

The first tip is one should always update mobile devices with the latest operating system and security patches.

He should ensure applications are installed only from official and trusted sources such as Google Play Store and Apple App Store, etc.

The users should regularly install and update regularly an antivirus or security software from trusted providers.

Customers are also advised to verify the permissions of any applications before granting access to the phone's storage or any functions.

Finally and most importantly avoid clicking on suspicious links in emails or messages. One should never share confidential information like OTP, password, PIN and card number with anyone.

As an extra tip customers can always avoid such frauds by checking the sender's identity and this can help fellow citizens if you report the SMS to the bank manager timely. Always use two-factor authentication for internet banking, by only accessing your account, by first entering your password and then followed by OTP. Your fingerprint can also act as a second password.