Karnataka senior duped in KYC fraud loses nearly ₹10 lakh

A resident of Karnataka, identified as a senior citizen, reported a loss of ₹9.96 lakh after falling prey to a KYC‑related fraud. According to local authorities, the victim was contacted by individuals claiming to be bank officials who requested personal identification documents under the pretext of updating KYC (Know Your Customer) records. Believing the request to be legitimate, the senior citizen shared the required paperwork and subsequently authorized fund transfers to accounts provided by the callers.

The financial transaction, which took place over a series of days, culminated in the disappearance of the entire amount. The victim discovered the loss only after noticing unauthorized debits in his bank statement. Upon reporting the incident, police in the district opened a formal case and have begun tracing the flow of the transferred funds. Preliminary inquiries suggest that the fraudsters used spoofed phone numbers and forged email addresses to mimic official bank communication.

KYC scams have become increasingly common across India, exploiting the trust placed in banking institutions. Fraudsters often target vulnerable groups, including senior citizens, by leveraging the routine nature of KYC updates. The Karnataka police have issued a public advisory warning citizens to verify any KYC requests directly with their bank through official channels, such as branch visits or verified helplines, before sharing sensitive documents.

While the investigation is ongoing, officials have not disclosed whether any arrests have been made. They have, however, urged anyone who suspects they have been approached by similar fraudsters to freeze related accounts immediately and file a complaint with the cybercrime cell. The case underscores the need for heightened awareness around digital fraud, especially as banking services continue to migrate online.

Consumers are reminded that legitimate banks never ask for passwords, OTPs, or direct fund transfers as part of a KYC update. Maintaining vigilance and confirming the authenticity of any request can help prevent further financial losses.