Fraud is happening in the name of increasing credit card limit: Thugs call pretending to be bank officers; Know how to avoid OTP fraud

The fraudster already has your name and the last 4 digits of the card. He says that “system verification” is necessary to increase the limit.

At the same time an OTP comes, which is actually for linking the new device or wallet. As soon as you tell the OTP, your card gets linked to the fraudster’s phone or app. In some cases, fraudsters also install screen sharing apps.

Identify fraud calls like this

If you have not applied for limit upgrade yourself, then understand that any such call is fake. If you get a call from an unknown number and are asked for OTP, disconnect it. The bank never asks for PIN, CVV or OTP.

Be careful of fraudsters’ talk on calls like ‘Tell me now otherwise the offer will end’. Do not click on SMS from private numbers or unknown links. If it is written in the message “Do Not Share OTP” and the caller is asking for the same then it is 100% fraud.

Avoid fraud with these tips

• Keep SMS/Email alerts on for every transaction.
• Set a low transaction limit and turn off international and online options if not needed.
• Never save card photo or OTP screenshot in gallery or chat.
• When changing phones or SIMs, do not forget to remove bank access from the old device.
• Use the lock card feature when the card is not in use.

What to do if you tell OTP by mistake?

• Block the card by immediately opening the bank app.
• Change passwords for all banking apps and email.
• Cancel international or online transactions by calling customer care.
• Register a complaint and report on 1930 helpline or cybercrime.gov.in.
• Note down the ticket number of the complaint, early reporting increases the chances of recovery.

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