Be Aware ! OTP Fraud

An OTP or One Time Password is security feature that enables online users and service providers to secure transactions with an additional layer of protection. It is the process of authenticating an online communication or transaction with an OTP.

However fraudsters have found new ways to misuse this feature to defraud the digital users to commit financial frauds.

OTP Theft OTP fraud is executed by fraudsters by deceiving digital users into sharing OTP in following ways : Over a call posing with fake identities In person with fake identities and fake reasons Malware infested links to users to download malware that can read OTP.

Dangers: FINANCIAL LOSS, REACH OF DATA, MALWARE ATTACK,  MOBILE & SYSTEM HACK

• Fraudsters impersonating as executives from companies/ agencies/ institutions
• Call/meet individual users on different fake pretexts like
• They convince them to share OTP for providing service
• Fraudsters adopting various social engineering techniques to con people into revealing OTP

Advisory

Never share or disclose OTP with anyone. Do not share details by filling up forms. Do not download any third party apps. Avoid clicking on the links received from unknown sources. Always use the contact details provided in official websites. Do not use the contact service providers, that are found in google search or provided in the mails/ messages. In case of any issue immediately inform your service provider and block your card.

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