NPCI alerts users about a new 'Call Merging Scam' where fraudsters eavesdrop on OTPs to steal money. Stay cautious and report suspicious calls
Mumbai: The National Payments Corporation of India (NPCI) has warned users about a new scam used by cyber criminals known as ‘Call Merging Scam’ which targets users by tricking them into revealing their One-Time Passwords (OTPs) leading to financial losses.
NPCI issued the alert on its X (formerly Twitter) account, urging users to stay cautious.
"Scammers are using call merging to trick you into revealing OTPs. Don’t fall for it! Stay alert and protect your money," NPCI said on social media platform X.
According to NPCI, this scam unfolds when perpetrators call individuals under the pretense of an event invitation or a job interview. They claim to have obtained the person’s number from a mutual friend, and during the call, they direct the individual to merge the call with another number, supposedly from the friend.
In reality, this second call is a legitimate OTP verification call from the bank that the scammer can listen in on once the calls are merged. As a result, the criminal gains access to the victim's OTP. The moment the OTP is shared, scammers complete the transaction and empty your bank account.
In order to safeguard oneself from falling prey to Call Merging Scam, NPCI has advised people to never merge calls with unknown numbers, unfamiliar sources. Secondly, if the person is claiming to be from the bank, confirm their identity before taking any action. Banks and genuine service providers will never ask for OTPs over calls. If you receive an OTP for a transaction you did not initiate, report it immediately to 1930, the national cybercrime helpline, and inform your bank to prevent any loss. One could also consider activating the spam detection feature on their phone.
According to a news report citing data from Home Ministry's Indian Cyber Crime Coordination Centre (I4C), India has endured a loss of around ₹11,333 crore to cyber scams in the first nine months of 2024. Stock trading frauds topped the list of scams in terms of the amount of money lost. This was followed by investment frauds, which resulted in a loss of ₹3,216 crore from more than one lakh complaints. Meanwhile, cases of digital arrests, which authorities have seen an uptick in, caused a loss of ₹1,616 crore from around 63,481 complaints.
