OTP Theft on the Rise in Bengaluru; Many IT Employees Fall Victim

India as a country has not taken privacy seriously. Most of the time, most hackers are able to find out the bank you are banking with,” says Harsha Halvi, co-founder of TBG Labs, “OTP theft is more a privacy matter than a technological one. Perpetrators often gain the victim’s trust by dropping a name for reference, which would make the victim trust them. After that finding information about the victim’s bank is also quite easy,” he added later.

Although Halvi later recommends that since it is not possible to build up a productsoftware as a safeguard against this as there are many apps that request access to SMSes, the solution to this problem will only begin to emerge if the users are increasingly mindful and don’t offer authorization to get to SMSes, at that point the developers will be compelled to change their strategy.

In this way, it proposed to the users, when accepting such calls, to check with the customer care numbers of their banks in order to smoothly avoid from being entrapped in such wreckage.

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