In an era where online business and digital payments are rising with each passing day — from paying a small tea stall vendor to buying a luxury item — digital payments have become the preferred mode of transaction for Indians across the board. With the advancement of technology, convenience has increased, but so has the vulnerability to risk.
As the name suggests, One-Time Passwords (OTPs) are meant for single use and remain valid only for a very short duration — a few seconds or minutes. They add an extra layer of security by reducing the window within which they can be used (and misused), and their strength lies in their transient nature. The time sensitivity and one-time use make them far more secure than static passwords. Nowadays, instead of receiving OTPs via messages, they are increasingly being delivered through calls — a riskier mode, as scammers get more time to interact with you and gain access to your data.
OTP-related frauds have become increasingly common. So how can we navigate through this? Recently, Ahmedabad witnessed a fraud where ₹29 crore was siphoned off from banks without the need for an OTP.
Cybercriminals are getting smarter every day. They no longer just steal passwords — they trick people into giving away their OTPs. Once they have it, they can:
- Transfer money from your bank account
- Access your digital wallet
- Take control of your social media or email accounts
- Make unauthorized purchases
All it takes is one moment of trust — and your hard-earned money or personal data could be gone.
So now the question arises: how can we avoid such frauds? The first step is to check the authenticity of any website before clicking on a link. You can do this using MobiArmour, a free mobile cybersecurity app that provides protection against online threats like financial fraud, phishing, and data breaches. Also, avoid saving your data on any browser. Try to change your name, address, and passwords from time to time so that access to your data remains restricted.
Scams can occur in several ways. Cybercriminals send fake emails or text messages that appear to be from legitimate sources such as banks, credit unions, online retailers, or social media platforms. These messages often contain urgent requests to verify your account or resolve an issue, prompting you to enter your OTP on a fraudulent website.
Nowadays, another rising scam involves receiving OTPs through phone calls. In this type of scam, fraudsters call victims pretending to be from a reputable organization, such as a bank or government agency. They may claim there is suspicious activity on your account and request your OTP to “secure” it — exploiting your trust and sense of urgency.
Staying safe from OTP scams requires vigilance. Here are some steps you can take:
- Treat your OTP like your password — never share it with anyone, even if they claim to be from a trusted organization.
- If you receive a request for your OTP, verify the legitimacy by contacting the organization directly through a known and trusted communication method.
- Use antivirus and anti-malware software on your devices to help detect and prevent phishing and other cyber threats.
If you believe you’ve been scammed or have shared your OTP, take immediate action. Call the helpline number 1903 to get your bank transactions locked. Regularly change your name, password, and address details to avoid unauthorized access. Try to keep your social media and personal banking accounts separate to reduce exposure of personal information.
Remember — your OTP is like the key to your digital home. Sharing it is like handing that key to a stranger. Stay alert, stay informed, and never let scammers use your trust against you.
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