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OTP Protection Isn’t Enough to Prevent Frauds
November 07, 2018
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.
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