NIC ASIA Bank Urges Customers to Stay Alert Against Phone Scams
24th October 2025, Kathmandu
In the rapidly expanding digital finance landscape of Nepal, NIC ASIA Bank has issued a critical public service announcement, urging customers to actively engage with their families in a simple yet powerful act of defense: discussing phone scams.
Alert Against Phone Scams
This campaign, launched in October 2025, emphasizes that a proactive five-minute conversation can establish the first, and often most effective, line of defense against financial fraud in the digital banking era. As cyber threats become increasingly sophisticated, the bank’s focus shifts from purely technical security to bolstering the vital component of human awareness within a family network.
The core of the issue lies in Vishing (Voice Phishing) and other social engineering attacks where scammers rely on deception and urgency over the phone to extract sensitive information. These malicious actors often target individuals who are less technologically savvy, such as older family members, making family discussion a paramount necessity for financial security.
The Scammer’s Playbook: Most Common Phone Scams in Nepal
Phone scams targeting bank customers in Nepal have evolved beyond simple requests for account numbers. The most common and dangerous tactics employed by fraudsters today rely heavily on impersonation, fear, and urgency to execute what is known as Social Engineering.
1. The Impersonation Scam (The Fake Bank Officer)
This is the most prevalent threat. Scammers call, pretending to be a Bank Manager, an IT Officer from NIC ASIA Bank, or even a representative from Nepal Rastra Bank (NRB).
The Hook: They claim there is an urgent problem with the customer’s ATM card, mobile banking, or account login that requires immediate correction to prevent an account block or suspension.
The Demand: They will ask for confidential information under the guise of “verification.” This includes the one-time password (OTP), the full ATM card number, CVV, or the ATM PIN.
The Rule of Thumb: NIC ASIA Bank, or any legitimate bank, will never call you to ask for your password, PIN, OTP, or CVV/CVC number. Any call demanding this information is a scam.
2. The Lottery/Gift/Refund Scam
Scammers contact victims to inform them they have won a large lottery, a huge cash prize, or are eligible for a substantial government tax refund.
The Hook: They create excitement and a sense of reward to lower the victim’s guard.
The Demand: To “process the transfer” of the prize, they request a small processing fee, tax payment, or service charge to be paid via an e-wallet, bank transfer, or by sharing their card details to receive the “deposit.” Once the fee is paid, the scammer disappears.
3. The Emergency/Family Impersonation Scam
This high-stress tactic often involves the scammer claiming to be a family member, often a grandchild or relative, who is in an emergency situation (e.g., arrested, hospitalized, stuck overseas) and urgently needs funds.
The Demand: They plead for immediate money transfer and insist on secrecy, asking the victim not to call other family members to verify, thus isolating the victim and pressuring them to act fast.
The Family Defense Plan: Simple Steps for Protection
NIC ASIA Bank’s campaign emphasizes that family dialogue is critical because a single, brief conversation can educate and inoculate loved ones against these high-pressure tactics. Here are the actionable, five-minute discussion points every family should cover:
1. Establish the “Never Share” Rule
The single most important security principle. Family members must understand that no matter how urgent the call sounds, the following details are non-negotiable secrets:
One-Time Password (OTP)
Mobile or Internet Banking Password/PIN
ATM Card PIN and the CVV/CVC (the 3-digit number on the back of the card)
2. Instill the “Hang Up and Call Back” Protocol
If a call claims to be from the bank, the immediate response must be to end the call. Then, the customer must independently call the bank’s official, published contact number (like the NIC ASIA Bank Call Center) to verify the story.
Action: Politely tell the caller, “I will call my bank’s official number to confirm this.” Then, use the number printed on the back of the card or the bank’s official website. Do not call the number the suspicious caller provides.
3. Be Suspicious of Urgency and Emotional Hooks
Explain that scammers deliberately use a tone of extreme urgency or fear to bypass rational thought. They want to rush the victim into a mistake.
Action: If a caller demands immediate action or threatens an account suspension, it is a massive red flag. Remind loved ones to take a deep breath, hang up, and follow the Hang Up and Call Back rule.
4. Verify Every Request for Transfer
If a family member or friend calls with an urgent request for money, especially one that insists on secrecy:
Action: Call the family member back on a known, official number (not the number that just called) or use a different communication method (e.g., a video call) to verify their identity and the emergency. Scammers often use Voice Spoofing technology to mimic trusted voices.
5. Monitor and Report
Encourage all family members to check their transaction notifications regularly and to report suspicious calls immediately to the bank’s customer service hotline and, for serious threats, to the Cyber Bureau of Nepal Police.
This concerted, family-wide effort, driven by NIC ASIA Bank’s commitment to customer awareness, transforms individual security knowledge into a collective defense mechanism against the constantly evolving tactics of phone scammers in the digital age.
For More: Alert Against Phone Scams
