Last Updated:
The State Bank of India has suggested people to remain alert to fraudsters posing as financial institution or treasury officers to trick them into sharing delicate banking info.
Fraudsters are concentrating on retiring people and pensioners.(Photo Credit: X)
Many pensioners and retiring people rely solely on their month-to-month pension for his or her livelihood. If you or your dad and mom are one in every of them, watch out for rip-off calls that ask for OTP for sooner processing of the pension. Fraudsters are more and more concentrating on pensioners and retiring people by posing as financial institution or treasury officers and in search of confidential banking particulars.
The State Bank of India (SBI) has issued a robust warning in opposition to such makes an attempt, urging susceptible teams to stay vigilant. In a submit shared on X (previously Twitter), SBI cautioned prospects about callers who promise sooner pension processing in trade for OTPs or different delicate info. The financial institution burdened that no legit official will ever ask for such particulars.
🔒 Stay Alert! Protect your pension and financial savings.Fraudsters are typically concentrating on retiring people and pensioners by posing as treasury/financial institution officers and tricking them into sharing delicate particulars.
Their objective? To change your registered cellular quantity and achieve full… pic.twitter.com/BtBcxZF2NU
— State Bank of India (@TheOfficialSBI) November 27, 2025
How The Scam Operates?
The video shared by SBI warns that scammers start by contacting pensioners underneath the guise of financial institution or treasury officers. They share malicious hyperlinks and ask victims to substantiate their Pension Payment Order (PPO) quantity. Simultaneously, the fraudsters try to log in to the sufferer’s web banking account and request the OTP that seems on the registered cellular quantity.
Once the OTP is obtained, the scammers provoke a request to vary the cellular quantity linked to the account. They then supply an IRATA reference quantity and ask victims to go to an SBI ATM underneath the pretext of “verifying” their Pension Payment Order (PPO).
After the cellular quantity is up to date, the fraudsters can intercept all future OTPs, giving them unrestricted entry to withdraw pension funds and financial savings. Many victims solely realise the theft upon reviewing their financial institution statements.
SBI’s Advisory to Pensioners
The financial institution has issued a collection of security measures in gentle of the rising menace:
Read SMS and electronic mail alerts rigorously.
Never share login credentials, PINs, OTPs, or monetary particulars over a name, even when the caller claims to be from SBI.
Verify suspicious communication solely through official SBI helplines, which start with +91-1600.
Report any unauthorised makes an attempt to vary your registered cellular quantity to the financial institution or cybercrime authorities instantly.
Treat calls from any non-official numbers with excessive warning, SBI says.
Risks And Potential Impact
SBI highlighted that when a fraudster beneficial properties management of an account, pension funds may be diverted or withdrawn with out the pensioner’s data. With many retirees having restricted expertise with digital banking, this group stays extremely susceptible. To mitigate this threat, the financial institution emphasised the necessity for normal account monitoring and strict verification of all pension-related communication.
Preventive Measures
To enhance consciousness, SBI continues to teach pensioners about digital safety. The financial institution has additionally advisable the creation of a step-by-step visible information to assist pensioners safely submit their Digital Life Certificate and shield themselves from cyber fraud.
SBI’s message is obvious: stay alert, confirm each communication rigorously, and report suspicious exercise at once.
A group of writers and reporters decodes huge phrases of non-public finance and earning money issues easier for you. From newest preliminary public choices (IPOs) out there to finest funding choices, we cowl al…Read More
A group of writers and reporters decodes huge phrases of non-public finance and earning money issues easier for you. From newest preliminary public choices (IPOs) out there to finest funding choices, we cowl al… Read More
November 29, 2025, 16:41 IST
Read More
