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Fraud Alerts

Warning! Beware of Fraud

The best way to keep protected against such fraud is to stay vigilant. Fraud in relation to financial products happens very quickly and chances to catch fraudsters and recover money is very less. As a part of our endeavour to protect our customers from different kinds of frauds and scams, we try to make our customers aware of different kinds of frauds/ scams, and how to identify and protect from them.


A. Type of frauds

Some of the common type of frauds are as follows:

  1. Phishing:Phishing is a technique employed by scamsters to illegally procure personal information like account numbers, internet banking user IDs and passwords, etc.

  2. Vishing:Vishing is a combination of the words ‘voice’ and ‘phishing’. Vishing is very similar to phishing - the only difference is the technology. Vishing involves voice or telephone services. A typical vishing call involves a scammer, posing as an employee from your bank or another organisation asking for your personal details.

  3. Smishing:A form of phishing, smishing is when someone tries to trick you into giving them your private information such as passwords or credit card numbers via a text or SMS message

  4. Identity Theft:Identity theft is the way of obtaining the personal or financial information of another person to use their identity to commit fraud, such as making unauthorized transactions or purchases.

B. Ways to Protect yourself

  1. Always remember that we will never send you an SMS/ Whatsapp message using a personal mobile number.

  2. We never ask our customers to pay upfront processing fee/ commission in cash for loan approval, since processing fees are always debited from your loan amount at the time of disbursement.

  3. We never ask our customers to transfer payment online using UPI/NEFT/IMPS to a personal bank account which is not of the company.

  4. We always ask customers to repay their loans using our True Balance Mobile App and never force them to pay using an external payment link to any individual name or account.

  5. Don't get misled by fake customer care numbers/ email ids shown by fraudsters on 3rd Party Websites or Social Media pages. Please ensure that you always procure customer care details from our official website or True Balance App.

  6. True Credits officials or representatives will NEVER ask you for your personal information i.e. your card details, passwords, PIN, CVV, OTP etc. DO NOT share these details with anyone over Phone Call, SMS, Whatsapp or Email.

  7. Do not reply to suspicious loan offers, repayment/ settlement offers, cashback or other financial incentives unless you seek clarification from our customer service.

  8. Always keep your mobile phone and its data secured/ locked and do not give your mobile phone to anyone for fetching/ entering your personal details.

  9. Do not click on any dubious links/ apps which lures customers to share confidential details/ credentials.

  10. Do not respond to fictitious offers, online lottery, fund receipt (sometimes using the name of RBI) that may be received through letters, e-mails, mobile phone calls, SMS, etc.

  11. Always ensure that your lender is duly authorised to grant loan and do not forget to ask your digital lending platform about the actual lender. Do not fall prey to unauthorised lending platforms/ Mobile Apps promising quick and hassle-free loans.

  12. When in doubt, just call / email to our Customer Service team to enquire about the personal mobile number, or personal SMS/Whatsapp message that you received. Also share with us a screenshot of the message as it will help us to investigate the same. Without enquiring from our Customer Service team, DO NOT PAY ANY AMOUNT TO ANYONE WHO IS REACHING YOU THROUGH PERSONAL MOBILE NUMBER, OR PERSONAL SMS / WHATSAPP MESSAGE.

C. Some examples of fraud

Some of the common type of frauds are as follows:

  1. Frauduster calling/ sending whatsapp to the customer impersonating to be Company’s employee :The fraudster calls/ sends an SMS/ Whatsapp message to the customer impersonating to be Company’s employees and shares the payment link of his personal account. The customer without enquiring from the Customer Service team of the Company makes payment to the fraudster's personal account.

  2. Frauduster asking upfront processing fees/ commission in cash from an individual for processing the loan :Fraudster approaches an individual saying that he can arrange a loan if the customer will make upfront cash payment to the fraudster. Customer without inquiring from the Company's Customer Service, gets lured from the statement of the fraudster and pays upfront fees to get his loan processed. However, later the customer realises that it was a fraud.

  3. Sending of dubious links/ apps to lure customers by fraudsters : A customer received a call from the fraudster stating that his KYC is being expired soon and in order to continue availing lending services, he needs to complete KYC from the link being sent by the fraudster through SMS/ Whatsapp. The Customer immediately inquired from the respective Company’s Customer Service which advised him NOT to install or open any link being sent by any third party.

D. Reporting of Fraud

Immediately report such cases to OR call our customer care number 0120-4001028 and report the same to us with a screenshot of the message and calls of fraudsters.

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