Government urges mobile users to follow these key tips to avoid increasing OTP fraud threats- Details

tech.hindustantimes.com:

India faces an increasing threat from financial fraud, according to recent data from the Reserve Bank of India (RBI). Despite various security measures, scammers persist in tricking people into disclosing personal information, resulting in significant financial losses. One-Time Password (OTP) frauds have become a prominent issue among these threats.

To assist citizens in avoiding these scams and minimising financial harm, the government's cyber agency, Cert-In, has released important safety tips for mobile users and outlined effective practices to follow.

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Fraudsters use advanced techniques to deceive individuals and gain unauthorised access to their bank accounts, digital wallets, and other sensitive data. These scams often involve impersonating bank representatives, e-commerce sites, or even government bodies to trick victims into sharing their OTPs.

Typically, scammers send misleading emails or SMS messages with links to counterfeit websites or forms that imitate legitimate platforms. Victims, unaware of the deception, enter their personal details, including OTPs, which the fraudsters then use to access their accounts.

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Sometimes, scammers employ psychological tactics to gain victims' trust and extract OTPs. They might pose as customer service agents, offer appealing deals, or create a sense of urgency to pressure individuals into revealing their OTPs.

In some cases, fraudsters install malicious software on victims' devices through phishing links or compromised apps. This software can intercept OTPs sent via SMS or other messaging services.

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Cert-In has issued a clear warning: “Stay alert to OTP frauds,” the agency posted on X. The agency also provided a list of best practices:

By following