One OTP received on your mobile can empty your entire bank account! To avoid this new trap of fraudsters, do these things immediately

Nowadays it is common to receive OTP on mobile. For bank transactions, UPI payments or online shopping, OTP is sent for security. But fraudsters misuse this OTP and empty people’s entire bank accounts. OTP scams have increased rapidly in India in recent months. Fraudsters call impersonating delivery boys, customer care or bank officers and ask for OTP. Once OTP is received, thousands and lakhs of rupees disappear within a few minutes. How does this scam work?

Fraudsters usually work in two ways: pretending to be a delivery boy or a package. The call comes – ‘Sir, your package has arrived. Verify the OTP and confirm the delivery. Or ‘Your order is being cancelled, please provide OTP for refund.’

Sometimes a person who looks like a real delivery boy also comes. As soon as you share OTP, fraudsters make transactions in your bank app. Because UPI or card payment is done easily through OTP.

Customer care or bank fraud
The caller says- ‘There is a problem with your account, get your KYC updated. OTP will come, just tell me. Or ‘Fraud has taken place on your card, get it blocked by sharing the OTP.’

People give OTP in a hurry. The bank never asks for OTP over the phone. Real banks never ask for OTP, PIN or password.

What happens when you share an OTP?
OTP approves the bank transaction. Fraudsters already have access to your card details, UPI ID or app (through phishing or old data leaks). They transfer the money as soon as they receive the OTP. People have lost lakhs of rupees in many cases.

Do these things immediately and avoid:

• Never tell OTP to anyone – no matter how official it seems. Bank, courier, police or government never asks for OTP on phone.
• Check Caller ID – Be suspicious even if the number seems to be from a bank. Real banks do not call for OTP.
• Do not be hasty – fraudsters scare – ‘the account will be blocked’ or ‘the package will be returned’. Wait, hang up and contact the bank/company yourself.
• Use official app/website – Check with the delivery company’s original app or site for package tracking. Do not click on unknown links.
• Increase mobile security – do not download unknown apps. Keep SMS and call forwarding off.
• Use antivirus.
• If in doubt, report – call 1930 or file a complaint on cybercrime.gov.in. Inform the bank immediately and get the card blocked.
• Use new features- Some companies like Airtel give alerts on OTP scam calls through AI. Keep such features on.

OTP is the key to your security, do not let it fall into the hands of thieves. With a little attention and awareness you can save your money. Tell your friends and relatives also. A little caution can save millions.