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One Stop Solution? Govt Joins Hands With SBI Cards And Telcos To Combat OTP Frauds

To tackle this rising fraud Indian government, SBI Cards and Payment Services Ltd (SBI Card), and telecom operators have teamed up to make a new way to alert people if their one-time passwords (OTPs) are stolen. This is part of a bigger plan to fight against cyber scams and fake messages that trick people into giving away their bank details.

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OTP frauds: Govt teams up with SBI Cards, telcos to finish off OTP frauds

The Centre is trying a solution that will allow banks to track the registered address as well as geolocation of a customer and where an OTP is getting delivered. In case of any discrepancy between the two locations, the customer can be alerted of a possible phishing attack.

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Govt teams up with SBI Cards, telcos to finish off OTP frauds, ET Telecom

OTP Frauds: While contours of the solution is still being worked upon with telcos, SIM location of a customer can be verified real time and matched with the geolocation of delivery of an OTP. Banks also have their own data on customers’ residences. So, capabilities will need to be built to triangulate the data in real time, one of the executives said.

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Govt of India, SBI team up with telcos to put a stop to OTP scams, curb cyber frauds, phishing attacks – Firstpost

Govt of India, SBI team up with telcos to put a stop to OTP scams, curb cyber frauds, phishing attacks – Firstpost
firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.

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