OTP Fraud
✓ Last verified 14 Sep 2026
The short version
OTP fraud tricks you into sharing a one-time password over a call, message, or fake form - the OTP itself is real, but sharing it hands a scammer the exact authorization needed to complete a transaction on your account.
An OTP exists specifically to confirm that the person authorizing a transaction is really you - sharing it with anyone, for any stated reason ("to verify your account," "to process a refund," "as a bank employee I need to confirm"), defeats that entire purpose and hands the scammer exactly what they need. No legitimate bank, company, or government agency will ever ask you to read an OTP back to them over a call or message - this single rule, applied without exception, prevents the large majority of OTP fraud attempts.
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