Banking OTP SMS Scam

An OTP SMS scam is a type of phishing scam that targets individuals by sending them a fake SMS message that appears to be from a legitimate service, such as a bank, online retailer, or social media platform. The message typically claims that the user's account has been compromised and urges them to click on a link or provide personal information, such as login credentials, credit card details, or One-Time Passwords (OTPs).

The goal of the scam is to trick the victim into giving away sensitive information, which can be used to access their accounts, steal their identity, or make fraudulent transactions. In some cases, the scammer may also use malware to intercept OTPs or redirect the victim to a fake login page that captures their credentials.

To protect themselves from OTP SMS scams, individuals should be cautious when receiving unsolicited messages, particularly those that request personal information or urge them to take immediate action. They should also verify the sender and the message content by checking the website or contact details of the service provider, and report any suspicious activity to the authorities. Additionally, using two-factor authentication (2FA) methods other than SMS, such as authenticator apps or hardware keys, can also provide additional security against OTP SMS scams.