World Bank cautions against fake debit and credit cards in its name in India

If there weren't enough financial crimes and frauds in the country, credit and debit cards in the name of the World Bank are reportedly being issued in India. On Friday, the World Bank issued a statement cautioning against the same.

In a statement, the World Bank said: "The World Bank's attention has been drawn to fraudulent issuance of debit/credit cards in India, carrying its name and logo."

"The World Bank Group does not issue debit/credit cards. The Bank Group has no involvement with individuals/groups who have issued these fake cards and would like to caution the public to be wary of such fraudulent practices," the statement from The World Bank said.

“Please feel free to visit the World Bank’s website www.worldbank.org to clarify about World Bank’s programs and policies,” it added.

Financial frauds have become prevalent in India, especially with the wide adoption of digital payments in country. There are have been several frauds, right from fraudsters who trick people into giving their OTP, to frauds involving UPI, Paytm, and other digital payment platforms.

There are also frauds where scammers send fake messages, mails and alerts to people on their debit and credit card transactions.

Banks across the country constantly send out advisories to users not to disclose sensitive details of financial accounts to anyone, especially not to disclose one-time passwords and pins.

The Reserve Bank of India also regularly puts out advisories telling people to be wary of messages, calls, or links asking for updating of KYC, card details, OTP and ping.

With festive season around the corner, there are also several fake online shopping sites that have come up duping customers by take fake orders and never delivering. There are scores of such websites, and once paid, it is also very difficult to get money back on such orders.

Watch to know more about fake online shopping sites