Scammers are always on the lookout for new ways to trick people, and recently they've found a method that allows them to steal money from bank accounts without needing an OTP (one-time password). The National Payment Corporation of India (NPCI) has issued a warning about this fraudulent practice, urging individuals to be vigilant.
Scams Without an OTP
Typically, when making online payments, individuals are required to authenticate their transactions with an OTP. Scammers usually obtain this password by ensnaring victims through various tactics. However, they have recently developed a technique known as the Call Merging Scam, which allows them to defraud people without requesting an OTP. In the past, they relied on missed call scams to swindle victims.
In the Call Merging Scam, the fraudster calls someone pretending to be a representative for a job interview or event and claims that their number has been provided by a mutual friend or acquaintance. The scammer then encourages the victim to merge the call, further leading them to believe that they are talking to a genuine friend. Unfortunately, the other line is actually a call from the victim's bank or credit card issuer, and during this call, the OTP for a transaction is revealed. When the victim merges the call, the OTP is inadvertently shared with the scammer, allowing them to withdraw funds from their account or card.
To receive an OTP, it typically comes via text or call to the registered mobile number. Scammers prefer to use the calling option for OTPs in order to carry out unauthorized transactions. When the victim merges the call, they unknowingly provide the OTP, and the scammer is then able to take money from the victim’s account.
How to stay safe
To steer clear of cybercriminal traps, being cautious is key. Always disregard calls and messages from unknown numbers. If you're using an Android smartphone, you can utilise the spam detection feature available on your device. Simply navigate to your call settings and enable the spam call filter option. By doing this, you can minimize the risk of receiving calls from unfamiliar numbers.
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