OTP Based Fraud: For any digital payment, usually we have to enter OTP, this is a verification system. By which it is found out who is making the payment, that is, only the person with the registered number can make the payment by entering the OTP. However, cyber thugs have cheated people of lakhs and crores of rupees through this OTP. For this, cyber criminals use different methods and steal people’s hard-earned money. This is the reason why now preparations are being made by RBI to replace OTP. Today we will tell you how many frauds are taking place every year through OTP.
So many cases come every year
There is a continuous increase in the cases of cyber crime in India, lakhs of such cases have been reported in the last few years. In which people are cheated of lakhs of rupees online, people do not even understand what happened to them. Talking about OTP fraud, only 549 cases were reported in the year 2019, but after a year in 2020, these cases almost doubled. After this, in the year 2021, cases from one thousand crossed two thousand. Experts say that these are the cases which were reported. Every year thousands of people are robbed through OTP.
Preparation to change OTP system
Now the OTP verification system can be changed soon, it is being told that the Reserve Bank of India is preparing to change it. In its place there will be a verification system which no one else can use. This means that no one can ask you for OTP or you will not be cheated by cloning the SIM. This will provide a lot of convenience to the common people and digital payment will become much safer than before.
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