ICICI Bank has issued a warning to customers about increasing online loan scams that lure victims with false promises of instant approvals and minimal checks, using fake websites, cloned apps, and social media outreach to steal personal data and funds.
ICICI Bank has warned customers to be on guard against a wave of loan-related scams that prey on people looking for quick credit. The bank said fraudsters are dangling promises of instant approvals, light paperwork and minimal checks to lure borrowers into handing over money or personal data.
According to the bank’s advisory, the schemes often begin with fake websites, cloned loan applications or unsolicited contact through calls, text messages, messaging apps, social media and online adverts. Victims may then be asked for sensitive details such as bank account information, passwords, date of birth, Aadhaar data, one-time passwords and CVV numbers, all of which can be used for unauthorised transactions.
The warning comes as ICICI Bank has also highlighted other online fraud tactics, including phishing messages that appear to come from the bank and malicious links that can install harmful software or apps. In another recent scam alert, the lender said criminals were using false LPG disconnection notices to pressure people into clicking links, downloading APK files or revealing banking credentials. The bank said it never asks customers to share OTPs, card details or passwords through such messages.
ICICI Bank also urged customers to treat any demand for an advance fee or security deposit as a red flag. Fraudsters often create a false sense of urgency by saying the offer will expire quickly, then disappear after receiving payment without issuing any loan. The bank told users to verify offers only through official channels, avoid suspicious downloads, and report suspected fraud through the National Cyber Crime Reporting Portal, the cybercrime helpline 1930, Sanchar Saathi or the bank’s own anti-phishing route.
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.
