RBI releases booklet BE(A)WARE on modus operandi of financial frauds.

Why in news?

• The Reserve Bank of India (RBI) released a booklet titled “BE(A)WARE”.
• It provides information on the common modus operandi used by fraudsters and precautions to be taken while carrying out various financial transactions.
• The booklet will enhance public awareness about financial frauds perpetrated on innocent customers.
• It also provides safeguards against commonly used fraudulent techniques like SIM swaps, phishing links, lottery, fake loan websites and digital apps etc.
• According to the Ombudsman Offices & Consumer Education and Protection Cells (CEPCs) of RBI, sharing of confidential information by the customers, knowingly or unknowingly is one of the major causes leading to the financial frauds in India.