India Post Payments Bank warns its Customer against Cyber Frauds

Bank account holders need to be cautious when sharing their personal information with unknown people due to the rise in numerous fraudulent activities where fraudsters open fake accounts in the name of villagers, tribals, and less literate people under the pretence that account holders would receive financial benefits under various government schemes. These accounts are used for illegal money transactions in various cyber-crimes beyond the knowledge of the actual account holders.

IPPB further advised to Customers –

1. Customers should not use mobile number of any third person for bank account opening.

2. Customers are advised not to transmit or accept any money until they are certain that the transaction is legitimate.

3. Customers are urged against giving strangers access to their bank accounts or their mobile banking information so they can conduct business on their behalf.

4. Customers are cautioned not to give out their IPPB account information to anyone enticing them with employment offers or promising fast money through social media.

5. Before making a purchase or sending money, customers should confirm the legitimacy of the business and the individual.

IPPB does periodical updating of customer identification data post account opening & their transactions are also monitored in order to protect them from misuse by such fraudsters.

About India Post Payments Bank

India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched by the Prime Minister, Shri Narendra Modi on September 1, 2018.

The bank was founded with the goal of creating India’s most approachable, inexpensive, and reliable bank for the average person. The primary goal of India Post Payments Bank is to break down barriers for those who are underbanked and unbanked and to cover the last mile by utilising the postal network of 155,000 post offices, 135,000 of which are located in rural regions, and 300,000 postal workers.

In order to enable Paperless, Cashless, and Presence-less banking in an easy and safe manner at the clients’ doorstep using a CBS-integrated smartphone and biometric device, IPPB’s reach and operational model are built on the fundamental pillars of India Stack. IPPB provides straightforward and economical banking solutions through user-friendly interfaces that are available in 13 different languages, using frugal innovation and placing a strong emphasis on convenience of banking for the general public.

IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important; every transaction is significant and every deposit is valuable.