A day after Prime Minister Narendra Modi warned citizens about 'digital arrest', HDFC Bank issued an advisory urging its customers to stay vigilant and avoid falling victim to such fraudulent practices.
The country's largest private sector bank has shared tips on how its customers can protect themselves from the emerging online fraud. It has asked its customers not to share sensitive information such as KYC details, bank details like user ID password, card details, CVV, OTPs or PIN number with anyone.
Additionally, the bank has suggested that in the event of a person becoming a victim of any online fraud, they should immediately report the unauthorised transactions to the bank in order to get the payment channel blocked -- cards/UPI/net banking -- to safeguard against future losses. Modi on Sunday, during his radio address to the nation, stated that there is no system like digital arrest in the Indian law. And those who are engaging in such activities 'are enemies of society'.
The prime minister further stated that investigative agencies are working in partnership with state governments to combat the scam being carried out in the name of digital arrest. According to the government data, Indians lost approximately Rs 120.3 crore (Rs 1.203 billion) to 'digital arrest' fraud schemes during the first quarter of 2024.
In digital arrests, fraudsters inform potential victims about a suspicious package allegedly containing illegal items. Victims are then contacted via video call by individuals posing as law enforcement, who demand payments to 'settle' the issue. During these calls, victims are pressured to remain visually connected -- termed a 'digital arrest' -- until they comply with the demands.
Manish Agrawal, senior executive vice-president Credit Intelligence and Control HDFC Bank, said, "When someone receives a call or message from fraudsters claiming to be law enforcement officers, always confirm their identity by independently contacting the government/law enforcement officials via proper channels.
"Staying vigilant and being aware of such fraudulent practices plays a very important role in avoiding falling prey to such scams." Further, the bank has instructed customers to incidents of 'digital arrest' on the department of telecommunication's Chakshu Portal.