Scammers are using call merging to trick you into revealing OTPs. Don’t fall for it! Stay alert and protect your money,\” said the Unified Payments Interface (UPI) The scam begins with a call from a stranger claiming to have received your phone number from a friend. The scammer then mentions that the \”friend\” is calling from a different number. Once the call is merged, the unsuspecting user unknowingly connects with a legitimate OTP verification call from their bank. As soon as the OTP is provided, the fraudsters complete the transaction, and the victim’s money is lost. Last month, a survey revealed that over one-third of people in India have fallen victim to scams involving real-time payments. A report by global analytics company FICO highlighted the growing threat of scams in the country. It was found that 60 per cent of respondents received scam messages, while 54 per cent knew someone – either friends or family – who had been scammed. Although fewer consumers reported losses in 2024 compared to 2023, the value of losses exceeding Rs 8 lakh doubled from 2 per cent to 4 per cent.
