Feb 19, 2025 01:32 PM IST
National Payments Corporation of India issued a warning about a new cyber fraud being used to steal money from users
The National Payments Corporation of India (NPCI) issued a warning about a new call merging scam through which users unwittingly share One-Time Passwords (OTPs), allowing scammers to steal their money.
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The NPCI which developed the Unified Payments Interface (UPI), stated on its X account, “Scammers are using call merging to trick you into revealing OTPs. Don’t fall for it! Stay alert and protect your money.”
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How does the scam work?
The scammers call users claiming that they have received the person’s number from a friend. Then they say that the “friend” is calling from another number and make a request to merge the call. Once the calls are merged, the victim unknowingly connects with a legitimate OTP verification call from their bank.
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The scammers time the call perfectly, leading the victim to share the OTP without realizing that they are being defrauded. As soon as the OTP is provided, the fraudsters complete the transaction, and the victim’s money is lost.
Tips to stay safe
UPI on their X handle shared the following tips for people to stay safe and protect their money from fraudsters.
– Never merge calls with unknown numbers: Always be cautious when asked to merge calls, especially if the source is unfamiliar.
– Verify the caller’s authenticity: If someone claims to be from your bank or a known contact, ensure you verify their identity before taking any action.
– Report suspicious OTPs: If you receive an OTP for a transaction you didn’t initiate, report it immediately to 1930 – the national cyber crime cell – to alert your bank and take necessary action against the cyber fraud attempt.
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