Monetary board of the central bank, Bank

New Delhi, Nov 30 Bank account holders need to be careful while sharing their personal details with unknown persons as it has been found that fraudsters open fake accounts in the name of villagers and tribals by giving an impression that account holders would get monetary benefits under various government schemes.It has been discovered that these accounts are used for illegal money transactions in various cyber crimes beyond the knowledge of the actual account holders.Keeping this in view, India Post Payments Bank (IPPB) advised that customers should not use the mobile number of any third person for bank account opening and they have been advised not to accept or send any money without knowing the genuineness of the transaction.Customers are advised not to share control of their bank account like sharing their mobile banking details with unknown persons to transact on their behalf.Customers are advised not to share their IPPB account details with people luring job offers or people offering opportunities to make easy money through the social media. Customers should verify the company and person before transacting with or sending money.Officials said that IPPB does periodical updating of customer identification data post account opening and their transactions are also monitored in order to protect them from misuse by such fraudsters.India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100 per cent equity owned by the Government.IPPB was launched by the Prime Minister on September 1, 2018.The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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