The State Bank of India recently warned its customers and the general public about social engineering fraud for investing in the form of fixed deposits (FDs). The bank said that it has received complaints of online fixed deposits in customers' accounts.

The bank has asked customers not to share personal details like password / OTP / CVV / card number etc. to be safe. SBI Bank said in a tweet that the bank never asks for such details over phone, SMS, or mail. He said that recently there have been reports that there are reports of online fixed deposits being created in the accounts of customers by cybercriminals in an attempt to commit social engineering fraud.

SBI warns customers against FD fraud

The bank said that we urge our customers not to share their banking details with anyone. We never ask for personal details like password / OTP / CVV / card number over the phone. SBI has given this information through its account holder's social media.

The bank said that the fraudsters first create FD accounts of the victims and transfer some amount and then they take advantage of it and tell them about the OTP coming from the bank and if the OTP is shared then they can transfer the FD amount to their Transfer to account.