State Bank of India Issues Warning over Lottery Scams

India’s largest public sector bank has issued a warning to its customers to stay vigilant with respect to the messages they are receiving. It seems that cyber criminals are taking full advantage of the pandemic and are sending fraudulent messages to SBI customers.

These messages that are mostly being transmitted via WhatsApp promise lottery wins in a bid to extract customer data. They use the guise of fake lottery schemes and customer gift offers to get to their end goal.

The official advisory reads as follows “Cybercriminals are waiting for just one mistake – please do not trust such fake callers or forwarded messages”

This is not the first warning issued by SBI. Just a month ago, they had sent out a similar warning asking their customers to be wary of fraudulent phishing emails.

The increase in cyber crime correlates to the increase in number of users handling their finances online. While it brings a greater degree of convenience it also exposes vulnerable customers to such threats.

We at CBW urge you stay vigilant! India is going through tough times as it is with the pandemic and we need to stay vigilant to prevent these fake lottery fraudsters from taking advantage of it!