In short
An email impersonates RBI, a bank or a security team and claims an account/security action is required The objective is typically to steal credentials and identity information for unauthorized access.
What it is
The message says the recipient must update or secure online banking. The victim is then pushed to open an attachment/link and enter banking credentials.
How it starts
An email impersonates RBI, a bank or a security team and claims an account/security action is required.
What they tell you
The message says the recipient must update or secure online banking
What they want you to do
Open an attachment/link and enter banking credentials
How you lose money
steal credentials and identity information for unauthorized access
What happens next
After the first successful step, the fraudster may demand more money/information, deepen account or device access, or disappear.
Warning signs
authority | fear | urgency | trust | phishing | malicious attachment | credential theft
Where this is documented
India — officially documented by an Indian authority/regulator
How to avoid it
Use only the bank/payment app or official contact details; never share OTP, PIN, password or screen access; verify the payee and transaction purpose before approving.
If it already happened
Contact the bank/payment provider immediately if money moved; report financial cyber fraud promptly via 1930 and cybercrime.gov.in; preserve messages, transaction IDs, phone numbers and URLs.