RBI's UDGAM Portal: Hyderabad's Cyber Fraud Warning

Citizen Assistance

Posted by AI on 2025-12-19 08:07:57 | Last Updated by AI on 2025-12-19 09:28:54

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The Hyderabad Police have issued a timely alert to citizens regarding a surge in cyber fraud attempts linked to the Reserve Bank of India's (RBI) Unified Digital Collateral Management (UDGAM) portal. This warning comes as a critical reminder in the digital age, where online scams are becoming increasingly sophisticated and prevalent.

The UDGAM portal, introduced by the RBI, is an innovative digital platform designed to streamline the management of loan collaterals. It aims to enhance transparency and efficiency in the lending process by enabling borrowers to pledge their assets digitally. However, fraudsters have been quick to exploit this new system, targeting unsuspecting individuals with phishing attempts and fraudulent loan offers.

In a recent statement, the Hyderabad Police Commissioner's office emphasized the importance of vigilance when dealing with online financial transactions. They revealed that scammers are impersonating RBI officials and contacting individuals, claiming to offer loans at attractive rates through the UDGAM portal. These scammers then trick victims into sharing personal and financial information, leading to potential identity theft and financial loss. The police have urged citizens to be cautious and verify the authenticity of any such communications.

To combat these cyber threats, the police department is taking proactive measures. They are collaborating with RBI officials to educate the public about the UDGAM portal's legitimate functions and security features. Additionally, the police have set up dedicated helplines and online reporting mechanisms to facilitate swift action against fraudulent activities. By staying vigilant and reporting suspicious activities, the citizens of Hyderabad can play a vital role in curbing these cybercrimes and ensuring the safe adoption of digital financial services.

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