The One-Time Password Trap: How Lakhs Vanish in Seconds

Tech News: In the digital age, online banking has become as convenient as it is sensitive. Today, hundreds of complaints come to the police every day that thousands or lakhs of rupees have disappeared from the victim's account after sharing an OTP on an unknown call. But there is an interesting thing in these cases - no criminal ever asks for the password. Why?

Only OTP is needed, not the password!

According to cyber expert Amit Dubey, in almost all cyber fraud cases, criminals only ask for OTP. A password is a complicated structure, which includes letters, numbers, and special symbols. In such a situation, it is difficult to make someone understand the password over the phone. On the other hand, OTP is an easy code of 4-6 digits that comes in real time and can be used immediately. This is the reason why the entire plan of criminals rests on that one OTP.

Passwords are leaked in advance

Now the big question is - do the criminals know the password in advance? The answer is yes. Amit Dubey explains that emails, mobile numbers, bank account details, and passwords of many users have already been leaked on the Internet. The criminals only need the OTP that comes on the victim's mobile at that time.
Has your data been leaked? Check it like this

Amit Dubey mentioned a website—https://haveibeenpwned.com/—where you can find out whether your email ID or related password has ever been involved in any data breach or not. He himself tells that when he entered his email there, he found out that his information had been leaked four times - once through his WiFi provider, which included his mobile number, address, email, password, and even location data.

 

 

 

 

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A post shared by Amit Dubey (@cyberdubey)

How does the fraud happen?

The criminals extract the banking profile of a person from the dark web database collected earlier. Then they call or message, posing as a bank official, and ask for the OTP. As soon as the person shares the OTP, the criminals transfer the funds. Surprisingly, there is no need for a password in this.

Caution is safety

The easiest way to avoid becoming a victim of cyber fraud is to never share OTP with anyone, no matter who they introduce themselves as. Keep changing your password from time to time, and keep checking that your information has not been leaked anywhere.