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OTP Fraud

Scammers tricking victims into sharing One-Time Passwords (OTPs) to authorize fraudulent transactions.

What is it?

OTP fraud involves tricking users into sharing the One-Time Password (OTP) they receive on their mobile for transactions. Scammers often pose as bank employees, tech support, or service providers.

Applicable Laws

Sections 43, 66, 66C, 66D of IT Act, 2000. IPC Sections 419, 420, 468, 471.

Penalties

Can lead to imprisonment and significant financial fines depending on the scale of fraud.

Safety Tips

  • Never share your OTP with anyone, including bank officials.
  • Banks or any legitimate company will never ask for your OTP.
  • Be suspicious of urgent requests for OTPs.
  • If you receive an OTP for a transaction you did not initiate, report it immediately.