Why You Should Never Share Your OTP With Anyone
It usually starts with something simple.
A call from someone claiming to be your bank manager.
A message saying your KYC is expiring.
An urgent offer for a free mutual fund consultation or insurance benefit.
They sound polite. Professional, even. And then they ask for it-the One Time Password (OTP).
"Sir, I just need the OTP to verify your identity."
"Ma’am, please share the OTP so we can process your refund."
"We are updating your account. Kindly tell us the OTP you received."
Seems harmless, right? It’s just six digits.
But in reality, those six digits could wipe your bank account clean.
An OTP (One-Time Password) is a unique code sent to your registered mobile number or email to verify your identity during sensitive transactions-like logging in, transferring money, changing passwords, or authorizing investments.
Think of it as the digital key to your financial life.
Sharing it is like handing over your ATM PIN, chequebook, and signature-all at once.
According to the RBI’s annual fraud report, most of the banking frauds in India were linked to digital payments either due to OTP sharing or digital credential compromise.
https://bfsi.economictimes.indiatimes.com/news/banking/bank-frauds-jump-nearly-300-in-2-years-amount-involved-halved-rbi/110558792
In one such case in Mumbai, a woman lost over ₹ 6.98 lakh after she unknowingly shared OTPs with someone posing as a bank manager.
Fraudsters today don’t break into vaults-they manipulate people, often with urgency or fear, to give up access willingly.
Fake calls from “banks,” “telecom companies,” or “mutual fund helpdesks”
SMS / emails saying your account will be blocked if you don’t verify
Fake online job offers or cashback rewards
Messages offering lottery winnings or income tax refunds
All of them eventually lead to:
“Please share the OTP you just received.”
Don’t fall for it.
Never share your OTP with anyone-not even with someone who claims to be from your bank, mutual fund, or insurance company.
No real institution ever asks for an OTP over call, SMS, or email. If someone does, it’s a scam.
Enable transaction alerts on your bank account to track activity in real time.
Don’t click on suspicious links or download unknown apps from messages or emails.
Set transaction limits on your accounts, wallets, and UPI to reduce risk.
Educate your family, especially senior citizens and teenagers, who are often targeted.
In today’s digital world, cybercriminals aren’t just after passwords-they’re after trust. And they’ll say anything to get it.
So the next time someone asks for your OTP, remember:
No trusted organization will ever ask for it. Only a fraudster will.
Pause. Think. Protect.
Your money, your identity, and your peace of mind depend on it. Become an Atmanirbhar investor-empower yourself with awareness and stay safe.
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