Authorities in India have raised concerns about a new scam where fraudsters trick users into merging calls, leading to the unintentional sharing of One-Time Passwords (OTPs). This method allows scammers to complete unauthorized transactions and steal money.
The Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), issued a warning on its X account:
How the Scam Works
Fraudsters call unsuspecting victims, claiming they got their number from a friend. They then request the user to merge calls, supposedly with the “friend” who is calling from a different number. Once merged, the victim unknowingly connects with an OTP verification call from their bank.
By carefully timing the process, scammers trick victims into sharing their OTP, leading to instant financial fraud.
How to Stay Safe
UPI has advised users to:
- Avoid merging calls with unknown numbers.
- Verify caller identity before acting on their requests.
- Report suspicious OTPs to 1930 and inform the bank immediately.
A recent survey revealed that over a third of Indians have been victims of real-time payment fraud. A report by global analytics firm FICO found that while fewer consumers reported financial losses in 2024 compared to 2023, the value of scams exceeding ₹8 lakh doubled from 2% to 4%.