To confirm the authenticity of the customer, it is necessary to do KYC i.e. ‘knowing your customer’. It is suggested to the customers that they should not do illegal things to avoid fraud. It is also suggested that they should not share their personal information with anyone.
What are the details in KYC?
In the KYC of the customers, their personal details like contact number, PAN card details, name, address and blood group etc. are given. Cyber criminals can misuse it. Many types of frauds are happening related to this. Through this, there are also reports of fake calls, email fraud, money laundering etc.
Many times KYC details are used to create fake IDs on digital platforms. Therefore, it is suggested not to share your personal information or KYC details with anyone. Do not share your information without checking its authenticity.