In short
Online banking access or transactions are abused through credential theft, impersonation or account compromise The objective is typically to cause unauthorized internet-banking transactions.
What it is
The precise lure can involve security, KYC, refund, support or account problems. The victim is then pushed to reveal credentials or authorize/access an online banking flow controlled by the fraudster.
How it starts
Online banking access or transactions are abused through credential theft, impersonation or account compromise.
What they tell you
The precise lure can involve security, KYC, refund, support or account problems
What they want you to do
Reveal credentials or authorize/access an online banking flow controlled by the fraudster
How you lose money
cause unauthorized internet-banking transactions
What happens next
After the first successful step, the fraudster may demand more money/information, deepen account or device access, or disappear.
Warning signs
trust | urgency | fear | phishing | account takeover | 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.