RBI on Banking Fraud: Money fuel is a person who transacts or transfers illegally earned money on behalf of someone else. To stop such a person or such activities, RBI has told in the advertisement how you can be cheated.
The Reserve Bank of India keeps providing necessary information to the people of the country from time to time so that their bank account can remain safe. Under this, an advertisement has been issued in many newspapers of the country. The purpose of this advertisement is to secure the accounts of the people of the country. The tag line of this advertisement is. Don’t become money fuel! It says that working as a money fuel is a crime.
Under the campaign Don’t become money fuel! Reserve Bank of India and National Cyber Portal have launched a campaign. Through this, the central bank wants to warn those people who get anyone’s money in their account without thinking and then become a victim of fraud.
What is Money Fuel?
Money fuel is a person who transacts or transfers illegally earned money on behalf of someone else. To stop such a person or such activities, RBI has told in the advertisement how you can be cheated. Through this advertisement, people have been told not to allow the operation of their account for the movement of other people’s money.
You can go to jail
In this advertisement, the Reserve Bank of India has made it clear that if someone proposes to receive or forward money of someone else through your bank account, it can land you in jail. The Reserve Bank has warned the people of the country that never give your account details to a person whom you do not know. If any kind of fraud happens with you, then you can report such a case to your bank or National Cyber Crime Portal or Cyber Helpline number 1930. Actually, the Reserve Bank of India keeps giving information to the people of the country in different ways from time to time. So that they can avoid any kind of cyber fraud. The Reserve Bank of India keeps warning bank customers through Twitter and other social media platforms. So that fraud in the banking system of the country can be reduced.
List of 10 types of fraud
Earlier, recently the Reserve Bank of India had released a list of 10 types of transactions, which banks will be able to select while declaring fraud. With the help of this list, the banking sector will be able to prevent fraud.
- Misuse of funds and criminal breach of trust
- Perpetrating fraud through a fake device and collecting money from it.
- Manipulation of bank passbook or transaction through a wrong account
- Perpetrating fraud by concealing the correct information with the intention of cheating any person.
- Forgery with the intent to cheat by making any false document / electronic record.
- Intentional falsification, destruction, alteration, distortion of any passbook, electronic record, paper, writing, valuable security or account with the intent to cheat;
- Facilitating fraudulent loans.
- Cash shortage due to fraud
- Fraudulent transactions involving foreign currency
- Fraudulent electronic banking/digital payment transactions.
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