📷 Image: Wikimedia Commons / KennyOMG
Business
Jammu & Kashmir Bank alerts customers about fake investment schemes
✍️ Kashmir Life
🗓 07 Sep 2026, 05:48 PM
👁 6
The bank has issued a warning urging its customers to stay away from unauthorised investment offers that mimic legitimate schemes.
Jammu & Kashmir Bank released an official advisory after receiving reports of fraudulent investment schemes that use the bank's name to lure depositors. The notice, published on the bank's website and circulated through SMS, clarifies that the institution does not endorse any third‑party investment products and that any such offers are unauthorised.
The bank cautioned that scammers often approach customers with promises of high returns, asking them to transfer funds to accounts that appear to belong to the bank. Victims could face total loss of their money, as the schemes are not regulated by the bank or the Reserve Bank of India.
Customers are advised to verify any investment proposal directly with the bank’s official channels before committing funds. The advisory also provides a helpline number and email address for reporting suspicious activity, urging swift action to prevent further fraud.
Jammu & Kashmir Bank reiterated its commitment to protecting depositor interests and promised to cooperate with law‑enforcement agencies to track and dismantle the fraudulent networks.
The bank cautioned that scammers often approach customers with promises of high returns, asking them to transfer funds to accounts that appear to belong to the bank. Victims could face total loss of their money, as the schemes are not regulated by the bank or the Reserve Bank of India.
Customers are advised to verify any investment proposal directly with the bank’s official channels before committing funds. The advisory also provides a helpline number and email address for reporting suspicious activity, urging swift action to prevent further fraud.
Jammu & Kashmir Bank reiterated its commitment to protecting depositor interests and promised to cooperate with law‑enforcement agencies to track and dismantle the fraudulent networks.