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OTP Protection Isn’t Enough to Prevent Frauds

November 07, 2018

OTP Protection Isn’t Enough to Prevent Frauds
One-time password which is commonly known as OTP is considered a strong security measure that can prevent unauthorized transactions with credit cards, online bank accounts, etc. However, a new case registered in New Delhi shows that it’s not a sure-proof protection. 

A resident of Janakpuri, Delhi recently raised a complaint of being duped by fraudsters who stole ₹11.5 lakh from his account. It was found that the criminals went to his bank and one of them impersonated him. The person requested to change the account-linked mobile number. Once the mobile number was changed, he siphoned off money from the account through online transactions using the OTPs that were received on the new mobile number. 

Photo on Visual Hunt

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