OTP online banking Fraud : How money is stolen through mobile OTP

OTP online banking Fraud: How money is stolen through mobile OTP

OTP online banking Fraud

In the last few years, many Indians have moved towards digital financial transactions. Although it has made life comfortable at some level, it has also given rise to many fraud cases in people who make money. The New Delhi Police has come in a new way in which fraudsters are reducing money from the accounts of the people. Here we tell you what the latest fraud is and how you can stay away from it:

A Delhi based person started scam after withdrawing 11.5 lakhs from his account without his knowledge. The victim had an account at Central Bank of India, Ashok Hotel, New Delhi.

After investigating the bank officials, the police found that the victim's mobile number was changed and the miscreants carried out transactions to withdraw and move the lane.
The gang first selects its goal and on the basis that they retrieve data from third-party vendors. Occasionally, they come in contact with hackers to extract personal data of potential targets.

The fraudsters want your personal data, the most important thing is your phone number. Therefore, be careful about who you share your phone number with.

Armed with your personal information, the crooks approach a bank. Once in the bank, they file a mobile number change request for the customer or customer.

What they do, without valid verification, they change the customer's mobile number. This can happen only when bank officials are involved in fraud.

With the new number, the gang of thieves begins to trade. For all transactions, you need an OTP or password once these days and this OTP now comes on Crooks, not you.

Most transactions are done through Net Banking because OTP is required for each transaction. Money is transferred to different accounts and the targeted customer is not even aware.

Along with changing mobile numbers, it is easy to withdraw money from other sources such as checks and ATMs.

Be reasonable about who you share your number with. While you may think that there is no harm in giving your number, it can be easily misused for such scandals.

OTP online banking Fraud

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