Beware of call merging scams: NPCI warns users to stay alert against OTP fraud

The National Payments Corporation of India (NPCI) has issued an alert regarding a new scam employing call merging tactics, which fraudsters exploit to trick people into disclosing their One-Time Passwords. This scam has resulted in huge cash losses, causing the NPCI to advise users on social media platform X. "Scammers use call merging to trick you into exposing OTPs. Do not fall for it! "Be alert and protect your money."  

Fraudsters pose as acquaintances and call unsuspecting victims, claiming they obtained their contact information from a mutual buddy. They then ask the victim to merge the conversation with another person—who, in fact, is a legitimate OTP verification call from the victim's bank. With exact timing, the fraudster dupes the user into providing their OTP, allowing illicit transactions to occur. 

To prevent this scam, the NPCI encourages users to:  

• To avoid falling victim to a scam, avoid merging calls from unknown numbers.  
• Verify the identities of callers who claim to be bank representatives or acquaintances before taking any action.  
• Report suspicious OTP requests immediately by contacting 1930 (the national cybercrime cell) and notifying your bank.  

As fraudsters hone their tactics, remaining aware and adhering to security best practices is critical to preventing financial fraud.

Information referenced in this article is from The Mint