Fraudsters Exploit RBI’s ‘UDGAM’ Portal Name to Dupe Public

Cyber fraudsters have changed their tactics and are now misusing the Reserve Bank of India’s (RBI) ‘UDGAM’ portal to cheat unsuspecting citizens. The scam involves messages and emails claiming that people have large sums of unclaimed deposits lying in old bank accounts and can withdraw the money by clicking a link.

According to Hyderabad Police Commissioner V.C. Sajjanar, cybercriminals are falsely invoking the RBI and its UDGAM (Unclaimed Deposits – Gateway to Access inforMation) portal to gain public trust. Victims are lured with messages such as “You have lakhs of rupees in old accounts. Click the link to claim now.” Once the link is clicked, mobile phones may be hacked and bank accounts emptied within minutes.

Police cautioned that the RBI never asks for OTPs, passwords or personal banking details, nor do its officials contact individuals directly for claiming unclaimed deposits.

The Commissioner advised citizens to follow these precautions:

For unclaimed deposits, access only the official website: udgam.rbi.org.in

Do not click suspicious links received via WhatsApp, SMS or email

Never share OTPs, passwords or banking details with anyone claiming to be an official

In case of cyber fraud, victims should immediately call the national cybercrime helpline 1930 or lodge a complaint at cybercrime.gov.in. Any delay could result in permanent financial loss.

Hyderabad Police urged citizens to stay alert and spread awareness to prevent falling prey to such online frauds.