14th August 2025, Kathmandu
In an era of rapid digital transformation, where convenience often comes with new risks, Everest Bank Limited has issued a critical public advisory to its customers. The bank is warning against a sophisticated and widespread fraudulent scheme targeting individuals through fake KYC (Know Your Customer) verification requests. This alert serves as a vital reminder for all bank account holders in Nepal to stay vigilant and protect their sensitive information from cybercriminals.
EBL’s KYC Scam Alert
The fraudsters, posing as legitimate bank representatives, are using various methods—including phone calls, text messages, and deceptive emails—to trick customers into sharing confidential banking details. Their common tactic is to claim that a customer’s KYC form is outdated and needs an immediate update to prevent their account from being suspended. This creates a sense of urgency, which is a key psychological tool used in phishing scams. They then proceed to ask for confidential data such as OTP codes, ATM PINs, login credentials, and account numbers, which are later misused to commit financial fraud.
Understanding the KYC Process: Why Scammers Target It
The KYC process is a mandatory procedure for all banks, required by regulatory bodies like the Nepal Rastra Bank (NRB), to verify the identity of their customers. It is a crucial step in preventing financial crimes like money laundering and fraud. Banks regularly ask customers to update their KYC forms to ensure their records are current and accurate.
This legitimate and necessary banking procedure has become a prime target for fraudsters because it creates a plausible reason to contact a customer and ask for personal information. Customers, believing they are complying with a standard bank request, often fall victim to these scams. The scammers’ ability to mimic bank communication by using fake sender IDs or official-looking email templates makes their requests appear authentic, further confusing unsuspecting individuals.
The Definitive Guide: How to Safely Update Your KYC Details
Everest Bank’s advisory provides a clear and actionable guide to help customers protect themselves. The most secure method for updating your KYC details is to visit your bank branch directly. This eliminates any possibility of fraud and ensures that your information is being handled by a verified bank official in a secure environment.
To make the process safer and more transparent, the bank has outlined a set of important “Do’s” and “Don’ts”:
Important Do’s to Ensure Your Security
- Verify Authenticity: Always visit your bank branch in person to update your KYC details or verify any communication regarding your account.
- Read Carefully: When at the bank, carefully review all instructions provided by officials and ask questions if anything is unclear.
- Use Official Channels Only: If you receive a suspicious call or message, immediately hang up or delete it and contact the bank’s official customer care channels directly to inquire.
- Maintain Privacy: Remember that your banking information is private. Never share it with anyone over the phone, in a text message, or through an unverified email.
Crucial Don’ts to Avoid Financial Fraud
- Do Not Share Confidential Details: Absolutely never share your account number, ATM PIN, CVV code, or OTP with anyone, under any circumstances. No bank employee will ever ask you for this information.
- Avoid Suspicious Links: Never click on links in unsolicited emails or text messages, as they can lead to phishing websites designed to steal your information.
- Steer Clear of Unofficial Websites: Do not update your KYC through any website that is not the bank’s official and verified portal. Always check the URL for accuracy.
This advisory aligns with the broader push from Nepal Rastra Bank (NRB) to strengthen digital security across the financial sector. The central bank has mandated that financial institutions must not only implement robust security measures but also actively educate their customers about potential risks.
Everest Bank’s Commitment and Customer Support
By issuing this alert, Everest Bank demonstrates its commitment to digital security and customer protection. The bank understands that a secure banking environment is a shared responsibility, and it encourages its customers to be proactive in safeguarding their own financial information. To assist customers, Everest Bank’s 24/7 Customer Care Center is available for inquiries and to report any suspicious activity. You can reach them via their toll-free numbers, 1660017718 and 1810217718, or via email at customercare@ebl.com.np.
In today’s digital world, vigilance is the best form of defense. By following these simple but crucial guidelines, customers can significantly reduce their risk of falling victim to financial fraud, contributing to a safer and more secure digital banking ecosystem for everyone in Nepal.
For More: EBL’s KYC Scam Alert