Late last year, the government warned State Bank of India (SBI) account holders of a fake SMS scam. A message circulating via SMS claiming to be from State Bank of India’s (SBI) official channel asked users to update their PAN card. It threatened SBI account holders, if they do not update their PAN via the link given in the SMS, their SBI YONO account will be blocked. YONO is SBI’s mobile app.
The Indian government’s Fact Check department (PIB Fact Check) too warned SBI account holders about such SMS messages. In a post on X, formerly Twitter, it says that the messages circulating via SMS to users that impersonate official SBI and ask recipients to update their PAN Card in case they don’t want their SBI YONO account to get blocked are fake.
The government has again warned Android and iPhone users of similar dangerous apps that steal money from victims’ bank accounts. These apps have been named on Cyber Dost, the Cyber-safety and Cybersecurity awareness handle maintained by the Ministry of Home Affairs, Government of India.
The government has warned Android smartphone users of its fake app of Union Bank. Called Union-Rewards.apk, the scam app impersonates the official Android app of Union Bank and claims to offer users rewards.
“Protect yourself from fake malicious android applications. #CyberSafeIndia #CyberAware #StayCyberWise #I4C #MHA #fraud #newsfeed,” reads a tweet on government of India’s cybersecurity account, Cyberdost.
— Cyberdost (@Cyberdost)
Fake stock trading apps
Fake stock trading apps have become a huge menace recently. Innocent citizens across the country have lost lakhs of rupees to such apps. The cyber cell of the Indian government has also warned iPhone users of a fake stock trading app. The app name is Group-S app. The app’s publisher is Chu Chi Quoc Huy, as per the screenshot shared.
— Cyberdost (@Cyberdost)
Other similar dangerous apps include: INSECG, CHS-SES, SAAI, SEQUOIA and GOOMI. These apps are not registered under the Securities and Exchange Board of India (SEBI). They register users and make them do stock trading based on the fraudsters’ recommendations. The amount to buy shares is deposited into bank accounts mentioned by the fraudsters. Fake profits are displayed in the digital wallet and victims end up losing money.
SEBI too has warned investors to exercise caution and to stay away from any social media messages, WhatsApp groups, Telegram channels, or apps claiming to facilitate stock market access through FPIs or FIIs registered with SEBI.
