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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

CKYCRR - Awareness Communiqu?: Recent Fraud Cases: Key Learnings for Reporting Entities

22-Jul-2025 | CKYC/2025/08

CKYCRR have issued an Awareness Communiqu? pertaining to recent fraud cases and provided key learnings for Reporting Entities. 1. CKYCRR have observed a rise in identity fraud cases where fraudsters misuse the PAN of unsuspecting individuals to create fake identities and take loans in their name. These activities often lead to changes in existing KYC records or the creation of fake records in the Central KYC Records Registry (CKYCRR). 2. To help Reporting Entities stay alert, the authority has shared insights that reveal common fraud patterns and key lessons to prevent such incidents in the future. a. Before creating an account-based relationship, REs should ideally check if the customer's KYC record already exists in the CKYCR. b. REs must carefully compare the customer data they have with the data in the CKYCRR. Extra caution should be taken while uploading or updating records. Mobile numbers should only be changed after proper verification and confirmation that the number belongs to the customer. c. When uploading or creating a record in CKYCRR, REs must ensure that all KYC details, especially PAN and contact information, are complete and accurate. Missing PAN or contact details often lead to duplicate records. d. REs should train their onboarding and KYC teams to strictly follow CKYCRR update procedures. Preventing such frauds is a shared responsibility, and proper due diligence helps protect both institutions and customers. For any suspected fraud or further help, please reach out to the CKYCRR Helpdesk. For more information, please refer to the official document.

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