Techie loses Rs 68 Lakh in OTP Scam

In a recent alarming incident, Aadish, a 39-year-old engineer from Bengaluru, found himself ensnared in the clutches of an online scam, resulting in a staggering financial setback of Rs 68 lakh. This unfortunate tale serves as a stark reminder of the ever-evolving tactics employed by scammers in the digital realm.

The Deceptive Transaction:
Aadish innocently posted an advertisement on OLX, looking to sell his used bed for Rs 15,000. Little did he know that this seemingly routine transaction would turn into a financial nightmare. A call from an individual identifying as Rohit Sharma, expressing interest in the bed, set off a chain of events that would lead to significant losses for Aadish.

The Scammer’s Cunning Strategy:
Sharma proposed a digital payment and requested Aadish’s UPI ID. What followed was a series of deceptive manoeuvres where Sharma, under various pretexts, convinced Aadish to send increasing amounts of money. The facade of a legitimate transaction was created as Sharma reciprocated with seemingly larger sums. The climax came when Sharma falsely claimed to have accidentally transferred Rs 30,000 to Aadish’s account.

The Dark Turn:
To rectify the supposed mistake, Sharma manipulated Aadish to click on a link and share the OTP (One-Time Password). Tragically, this manoeuvre led to substantial amounts being siphoned from Aadish’s account in a fraudulent scheme.

Understanding OTP Scams:
This incident sheds light on the perilous world of OTP scams. One-time passwords, designed as an extra layer of security for online transactions, become tools for scammers to gain unauthorized access or steal money. The scammer employed various methods, including phishing, vishing, and smishing, to trick Aadish into revealing his OTP.

Protecting Yourself from OTP Scams:
In the wake of Aadish’s ordeal, it’s crucial to stay vigilant and adopt preventive measures:

• Never share your OTP: Legitimate companies will never ask for this sensitive information.
• Exercise caution with links: Avoid clicking on links in emails, texts, or calls, especially from unknown sources.
• Verify messages: If in doubt, contact the company directly to confirm the authenticity of messages.
• Strong passwords: Use robust passwords and change them regularly.
• Enable Two-Factor Authentication (2FA): Add an extra layer of protection to your online accounts.

Conclusion:
Aadish’s harrowing experience serves as a stark warning about the prevalence of online scams and the importance of staying informed and vigilant. As we navigate the digital landscape, it’s imperative to arm ourselves with knowledge and take proactive steps to safeguard our financial well-being.

Stay informed, stay secure.

Source: Times of India

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