No matter how sophisticated or secure your phone or computer is, highly skilled hackers can still simply breach it. OTPs are the most popular method of phishing. A one-time password, or OTP, is a password that can only be used once to log into a computer system or other digital device. OTPs used to be thought of as a very safe technique for ensuring security, but not any more.

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Here are the different methods that con artists can steal your money and how you can avoid being conned:

Ways that scammers/con artists can steal your money are:

  • Assume the role of a bank employee to obtain your information.
  • They can access your phone by making you click on links.
  • Hackers will ask your banks to modify the phone number you registered with them.
  • Send a phoney identification proof to the mobile operator and ask for a new sim with the same number.
  • They send text messages asking you to open the link which has a certain deadline.

How can you guard against being scammed?

  • Never give out your OTP or Pin to anyone.
  • Don't answer any calls from unknown numbers.
  • Ask specific inquiries of a person claiming to be a bank representative.