RBI Fights Cyber-Crime: Calls from 1600 to Safeguard Your Bank Transactions

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RBI Fights Cyber-Crime: Calls from 1600 to Safeguard Your Bank Transactions

RBI’s New Initiative to Prevent Fraud: Transaction Calls Only from 1600 Series


The Reserve Bank of India (RBI) has announced a crucial step to curb financial fraud and cybercrime. In its latest circular, the RBI highlighted that fraudsters are exploiting customers by misusing mobile numbers, often via voice calls and SMS. 


To tackle this growing menace, the central bank has issued new directives for banks and regulated entities. 
Key Directives from RBI

Transaction-Related Calls: Banks are now mandated to use only phone numbers beginning with the series “1600” for any transaction-related communication.

Promotional Communication: For promotional voice calls and SMS, banks and other regulated entities must use numbers starting with the series “140”.

This initiative aims to create a clear distinction between legitimate communication and potential fraud attempts, ensuring better security for customers. 

Why This Initiative is Important 

Fraudsters have increasingly targeted customers through spoofed calls and fake SMS, impersonating bank officials or customer service representatives. 

By standardizing the phone number series, the RBI seeks to make it easier for customers to identify legitimate communication and avoid falling victim to scams. 

Sanchar Saathi App: Your Shield Against Cyber Fraud 

In addition to the RBI’s measures, the Department of Telecommunications (DoT) has introduced the Sanchar Saathi app, a robust tool to combat fake calls and cyber fraud on mobile devices. The app provides several features to enhance user safety:

Report Cyber Fraud: Users can directly report incidents of cyber fraud through the app.

Locate Lost Phones: If a mobile device is lost, users can use the app’s functionality to locate it.

Enhanced Privacy: Telecom Minister Jyotiraditya Scindia emphasized that the app ensures customer privacy and security.

Originally launched as a portal in 2023, Sanchar Saathi has been instrumental in fraud prevention. The introduction of the mobile app further strengthens these efforts, doubling its effectiveness in safeguarding users. 

Benefits for Customers

Easier Identification: Customers can quickly recognize legitimate transaction calls, reducing the chances of falling prey to fraudsters.

Improved Security: Standardized numbering reduces confusion and enhances trust in banking communications.

Better Fraud Reporting: Tools like Sanchar Saathi make reporting cyber fraud more accessible and effective. 

Frequently Asked Questions (FAQs)

1. How can I identify legitimate transaction-related calls from my bank? 


Legitimate transaction-related calls will now only come from numbers starting with the series “1600” as mandated by the RBI.

2. What should I do if I receive a suspicious call or SMS? 


If you receive a call or SMS from an unverified number, avoid sharing any personal or financial details. Report the incident to your bank and use tools like the Sanchar Saathi app to file a complaint.

3. How does the Sanchar Saathi app help in fraud prevention? 


The app allows users to report cyber fraud, locate lost phones, and ensures enhanced privacy for mobile users, making it a comprehensive tool against cybercrime.

4. What series will bank use for promotional communication? 


Promotional calls and SMS from banks and regulated entities will originate from numbers starting with the series “140”.

5. Can I retrieve my lost phone using the Sanchar Saathi app? 


Yes, the app includes features to help users locate their lost mobile devices. 

Conclusion 

The RBI’s latest measures, combined with the Sanchar Saathi app, represent a significant step forward in the fight against financial fraud and cybercrime. By ensuring that transaction-related calls come only from the “1600” series and providing tools to report and prevent fraud, these initiatives offer enhanced security and peace of mind for customers. 

Stay vigilant and use these resources to protect yourself from potential scams.

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