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Haryana alerts not to share OTP for EMI loan


Chandigarh: Haryana Police issued an advisory requesting citizens to avoid sharing OTPs on phone calls concerning postponing their loan Equal Monthly Installments (EMIs) as cyber criminals may try to siphon off funds from their bank accounts on the pretext of helping them.

Giving this information here today, Additional Director General of Police (Law and Order), Mr Navdeep Singh Virk said that a new style of cybercrime come to the fore after the government offered EMI moratorium for individual or business borrowers amid COVID-19 lockdown. Such scamsters have now come up with a new method to dupe gullible citizens by sending them OTPs.

Explaining the modus operandi, he said that such fraudsters may pose as bank representatives, requesting the citizens to share their OTPs in order to postpone their loan EMIs. Once the OTP is shared, the amount is fraudulently siphoned away by these scamsters.

Mr Virk advised the people to be alert of such cyber criminals and not to share OTP over phone calls as EMI deferment does not require OTP sharing as per banking guidelines.

Suggesting the precautionary measures, Mr Virk advised people not to fall prey to these scamsters and whenever they receive any such call/OTP regarding deferment of EMI, they should not share any information with anyone to avoid being a victim of cyber fraud. The people need to be alert and aware to beat such cyber criminals.


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