Utility: SBI Bank warns customers to be careful with these apps, as fraud may occur!

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State Bank of India, India's largest lending bank has come up with some safety tips for its customers to avoid getting flash loan frauds. Additionally, SBI urges people to report cybercrime at Cybercrime.gov.in. Chinese rapid lending apps are controversial, and the central government is taking several measures to thwart these fraudulent apps.

The proliferation of fast-lending apps has contributed to a rise in cybercrime, exorbitant interest rates, and enticing borrowers into unethical loan extraction techniques.

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SBI has shared an infographic on its official Twitter handle and wrote, 'Please avoid clicking on suspicious links or providing your information to any company posing as a bank or financial company. Report cybercrime at http://cybercrime.gov.in."

Here are 6 safety tips shared by SBI:

  • It is better to verify the legitimacy of the app before downloading it. Many illegal apps have the ability to steal money from users' accounts.
  • You should not click on suspicious links.
  • As was already mentioned, it is best to avoid using unlicensed apps that can steal your data.
  • To prevent your data from being stolen, check the app permission settings.
  • You should alert the local police about any suspicious money-lending apps.
  • For all your banking needs, visit http://bank.sbi.