Central Bank Highlights Simple Contact Updates as Key to Keeping Your Bank Accounts Secure

Nepal Rastra Bank (NRB) has issued an urgent public notice advising all bank clients and financial service users to inform their institutions immediately if they change their mobile numbers or email addresses. This notice aims to secure individuals' personal accounts and minimize the growing risks of illegal access and financial fraud.

According to the central bank, modern financial services, such as mobile banking, internet banking, and digital wallets provided by various companies are directly linked to the user's registered mobile number or email address. These communication channels handle highly sensitive updates, including transaction alerts, secure login codes, and confidential banking details.

The central bank emphasized that delaying this notification creates a major security loophole. If a mobile phone is lost, stolen, or if a mobile number is changed without notifying the service provider, unauthorized individuals could gain full access to the account. If an old mobile number is reassigned to a new user, malicious actors can exploit it to log into accounts, reset passwords, and steal funds. To prevent such risks, the public must take quick action and update their personal records with their banks as soon as a change occurs.

Additionally, the notice highlights the importance of safe digital habits. Nepal Rastra Bank strongly advises individuals to use only mobile SIM cards registered under their own official legal names when accessing financial services. Users are also cautioned to download and use only the official applications of banks and payment systems to avoid fake software designed to steal personal data.