NRB Warns of Online Banking Transaction Risks and Urges Vigilance

The Nepal Rastra Bank (NRB) has issued a press release cautioning the general public about the proper usage of online banking transactions through electronic devices.

The central bank has become aware that certain individuals impersonating banking employees are fraudulently collecting sensitive customer information, including the One Time Password (OTP). These impostors gather relevant Know Your Customer (KYC) data and gain access to customers' online banking accounts by resetting passwords, enabling them to carry out fraudulent transactions and profit from them.

The NRB, as the regulatory body for banks and financial institutions (BFIs), advises individuals who encounter such incidents to report them through the Financial Consumer Protection Portal or via email at gunaso_psd@nrb.org.np.

Additionally, the NRB urges BFIs providing online banking services to diligently monitor and detect such activities in order to safeguard their customers.

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