The National Payments Corporation of India (NPCI) has warned of a new scam in which scammers steal One-Time Passwords (OTPs) by call merging. This tactic deceives victims into unintentionally disclosing their OTPs, which results in financial fraud.
NPCI, which oversees the Unified Payments Interface (UPI), shared the warning on social media platform X. The message urged users to stay cautious, stating: “Scammers are using call merging to trick you into revealing OTPs. Don’t fall for it! Stay alert and protect your money.”
How the Scam Works
Fraudsters contact potential victims while pretending to be a friend or a trusted contact. They claim to have obtained the user’s details from a mutual connection and request the victim to merge the call to include another person. Once the victim agrees, they unknowingly link the call to an OTP verification call from their bank.
The victim inadvertently divulges the OTP because the con artists carefully schedule their calls. Once the OTP is known, the scammers use it to conduct illegal transactions, costing the victim money.
Ways to Stay Safe
To protect against such scams, NPCI has suggested some preventive measures:
- Avoid merging calls from unknown numbers, as scammers use this method to gain trust.
- Verify caller identities before sharing any information. If someone claims to be a bank representative or acquaintance, double-check their authenticity.
- Report suspicious activity immediately if you receive an OTP for a transaction you did not initiate. Call 1930, the national cybercrime helpline, and inform your bank.
With cybercriminals constantly updating their tactics, staying informed and cautious is the best way to protect your financial data. Authorities advise users to avoid fraud by being watchful and adhering to security best practices.
