Answer By law4u team
If OTP fraud occurs, immediate action is essential. The faster you respond, the higher the chances of preventing further loss or recovering the money. Immediately Contact Your Bank Inform your bank or card issuer about the fraudulent transaction. Request them to block your bank account, debit card, credit card, or internet banking access, if necessary. Ask the bank to freeze or stop any pending transactions. Report the Fraud Report the incident to the nearest Cyber Police Station or any police station. File a complaint through the National Cyber Crime Reporting Portal, where applicable. Call the National Cyber Fraud Helpline Dial 1930 immediately to report the financial cyber fraud. Early reporting may help authorities coordinate with banks to freeze the fraudulent transaction. Change Your Credentials Change your internet banking password, UPI PIN (if compromised), email password, and other account passwords. Enable two-factor authentication (2FA) wherever available. Preserve Evidence Save screenshots of SMS messages, WhatsApp chats, emails, and transaction alerts. Keep bank statements, UPI transaction IDs, and call details. Note the mobile number, email address, or account details used by the fraudster. Monitor Your Accounts Regularly check your bank accounts and cards for any unauthorized transactions. Report any additional suspicious activity immediately. Cooperate with the Investigation Provide all available evidence to the police and the bank. Respond promptly to any requests for information during the investigation. To prevent OTP fraud: Never share your OTP with anyone, including persons claiming to be from a bank, RBI, police, or government department. Banks and government authorities never ask for your OTP, PIN, CVV, or password over phone calls, SMS, or WhatsApp. Do not click on suspicious links or install unknown apps sent by strangers. Verify the identity of anyone requesting confidential banking information. Depending on the facts of the case, OTP fraud may involve offences under the Bharatiya Nyaya Sanhita, 2023 (BNS) and the Information Technology Act, 2000. The Cyber Police investigate such offences and may coordinate with banks and payment service providers to trace the fraud and attempt recovery of the funds.
