November 19, 2019
“We are all born ignorant, but one must work hard to remain stupid” – Benjamin Franklin
Fraudsters move very fast to exploit the new regulatory provisions, however sound they may be by playing on the emotions of individuals. There have been numerous stories of frauds being committed on the pretext of calling from your bank, from IRDA or police and so on…….
For most financial transaction KYC is mandatory. KYC process requires not only your proof of identity, proof of residence but also a cancelled cheque so that your amount, whenever you desire reaches your bank account only. But fraudsters find ways even in exploiting these precautions. Following precautions can prevent you against many such frauds:
- 1. Always use your own ball point pen to write or sign any document/cheque.
- 2. Whenever signing any document, put the date and write the purpose of giving the document.
- 3. Mention on the proof that to which agency it is being given along with purpose.
- 4. Never sign a cheque which is to be given as proof of bank details. Cross it and write in big letters “cancelled”. Please do not sign the cheque.
- 5. Write hard on paper so that even if it is erased, it leaves mark on the paper.
- 6. Also when someone approaches you representing any organisation and is not already known to you confirm it from that organisation.
So next time when you are giving your documents to anyone, you know what precautions you need to take. Take precautions and stay safe.