ICICI Bank warns customers about rising online scams exploiting demand for instant personal loans, urging vigilance against fraudulent platforms and social engineering tactics.
ICICI Bank has warned customers to be on guard against fraudsters exploiting demand for fast personal loans, as digital lending scams become more common in India. The bank said criminals are promoting fake or cloned lending platforms and contacting people through calls, SMS, messaging apps, social media and online adverts with promises of instant approval and little paperwork.
According to the advisory, the trap often begins with requests for sensitive information such as Aadhaar details, bank account data, passwords, dates of birth, one-time passwords and CVV numbers. In some cases, scammers also push victims to pay an upfront fee or security deposit before any loan is released, then vanish once the money is transferred. ICICI Bank said offers that sound unusually easy, urgent or lenient on credit checks should be treated with suspicion.
The lender has also been warning customers about other online frauds, including malicious links and fake applications. In a separate caution, the bank said it never asks customers to call a particular number or download software through SMS or WhatsApp, and it has urged users to install apps only from trusted sources, check permissions carefully and avoid sharing OTPs, PINs, passwords or card numbers.
Customers who suspect fraud have been advised to report it immediately through India’s National Cyber Crime Reporting Portal or the 1930 helpline, and ICICI Bank also directs users to its own customer service and anti-phishing channels. The bank’s wider scam guidance covers counterfeit job offers, bogus investment schemes and other social-engineering tactics that rely on pressure, urgency and impersonation to steal money or credentials.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
