how this otp scam work?

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Last Comment 2022-12-24

jyotijadavtu...

2022-12-20

I am little afraid of reading this in news so did not even enabled upi

now q is

1) since scammer call from sim ,why cant cyber crime block sim and adhar since every sim is linked with adhar

2) all money can be recovered if otp scam happens?

3) how can lakhs of money gets trasnferred if person has limit on transactions in netbancking?

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https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8983752

guest_999

2022-12-22

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Drdrake wrote:
People here are talking casually about simswap on other hand I was not able to get my own sim card which I used for 10yrs because it was not registered in my name.. Vi

Story of this country, law abiding citizens face more hurdles than criminals.

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8980625

androgame

2022-12-20

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Tekk wrote:
Yesterday i visited Airtel store.. and they told me you can't get Airtel sim card without aadhar...got sim card with aadhar number..

BONUS: today i registered in Airtel app..and it's showing Airtel payments Bank,they opened without my consent 😭😭

PS: 2 Year's ago they did the same thing..i have closed that account..but now they opened it again..

The whole system wants you to give aadhar, but you can get possibly everything without it, need to take a strong stance, if the store denies, ask the manager for his name and shoot a mail to nodal officer

Ideally you should also escalate your current case to rbi and airtel nodal, it's unethical to be opening bank accounts like that. I think their license got suspended earlier also for similar acts

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8980412

DJRohan

2022-12-20

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jyotijadavtube841 wrote:
where they give sim without adhar?

Aadhar is not mandatory for sim. People now having habit of giving aadhar everywhere. I never used aadhar except linking with pan card. Sim, DL, passport, rc registration, vaccination, sbi bank account etc all done with voter ID only.

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https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8984101

ketkeesharmaco367

2022-12-22

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Drdrake wrote:
My sim was in my cousins name and he moved to states. Now, even after handing in if valid proof for sim identification he was not ready to budge in.

I had visited 3 Vodafone center in 2 tier 1 cities, didn't had any luck. Eventually had to give up the idea and got another sim.

PS - Its all digital now, the take live photos and fingerprint for adhar now, no physical documents needed afaik.

in time of corona I lost sim that in another state

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8984411

shraaj

2022-12-22

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guest_999 wrote:
There is a 24 hour waiting period before a replacement sim can receive sms so unless the victim takes 18-20 hours to realise, the sim swap fraud is not possible.

Also, I wanna know how without having UPI PIN how can they transfer the money because even if you reset the PIN still you need DEBIT Card Details also some banks restrict the Usage of Outbound Transfers to max 1 Lac/ Day then how can they transfer Lakhssss of money within just a day.

Some guy in the thread was saying net banking has a limit of more than 10 Lac + Day even if you do that still how the banks do not know the transaction is misused and they marked it as LIEN or Freeze the account.

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8984416

shraaj

2022-12-22

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aam_aadmi wrote:
I think the "24 hour waiting period for replacement sim" rule was issued by DoT in November 2022 only. Prior to that ot was at the discretion of service provider. This may curtail the number of SIM SWAP frauds

Nope, it was earlier also Because , I have Changed or Swapped my 4 SIM in-between 4 years and the policy was same

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8984745

guest_999

2022-12-23

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shraaj wrote:
Also, I wanna know how without having UPI PIN how can they transfer the money because even if you reset the PIN still you need DEBIT Card Details also some banks restrict the Usage of Outbound Transfers to max 1 Lac/ Day then how can they transfer Lakhssss of money within just a day.

Some guy in the thread was saying net banking has a limit of more than 10 Lac + Day even if you do that still how the banks do not know the transaction is misused and they marked it as LIEN or Freeze the account.

All banks retail netbanking have limits otherwise there wouldn't be any difference between retail internet banking & corporate internet banking of a bank. For sbi it is 10 lakh per day & likely the same for hdfc, for idfc & axis it is 20 lakhs per day. In axis bank, one can apply for increase in this limit up to 50 lakh by visiting the home branch & submitting an application but approval is not guaranteed.

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8986246

shraaj

2022-12-23

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guest_999 wrote:
All banks retail netbanking have limits otherwise there wouldn't be any difference between retail internet banking & corporate internet banking of a bank. For sbi it is 10 lakh per day & likely the same for hdfc, for idfc & axis it is 20 lakhs per day. In axis bank, one can apply for increase in this limit up to 50 lakh by visiting the home branch & submitting an application but approval is not guaranteed.

I know this! What i am saying is, Fraudsters are Scamming People by Debiting 10Lac,15Lac,30Lac in different different transactions within 1 hour how it's people!

There is news ,like vitim got fraud of 65Lac within 10 minutes.

How is this Possible?

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8986263

aam_aadmi

2022-12-23

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shraaj wrote:
I know this! What i am saying is, Fraudsters are Scamming People by Debiting 10Lac,15Lac,30Lac in different different transactions within 1 hour how it's people!

There is news ,like vitim got fraud of 65Lac within 10 minutes.

How is this Possible?

Most 10L + frauds were either with current accounts or with multiple bank accounts. In our company most people lost upto 10 lakhs in SIM SWAP fraud few years back, as the daily limit is 10 lakhs for online transactions in regular accounts. Scamsters sometimes choose middle of the night, so that to they can use limits of both days

https://www.desidime.com/discussions/how-this-otp-scam-work?page=3#post_8986819

guest_999

2022-12-24

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shraaj wrote:
I know this! What i am saying is, Fraudsters are Scamming People by Debiting 10Lac,15Lac,30Lac in different different transactions within 1 hour how it's people!

There is news ,like vitim got fraud of 65Lac within 10 minutes.

How is this Possible?

Current account in most cases as they usually hold much higher balance being business acc in nature. Also, sim swap is a very targeted attack & not like fraudsters have some sort of lottery system where they do sim swap fraud for any sim holder details they got their hands on. You need to be some well known person/businessman in the local area known to keep large amt of money in their current acc & not much technical knowledge/dedicated IT team to handle online txn matters.

Just fyi, in corporate banking there are 2 layers of user authentication so even for doing a neft/imps there need to be a 5 min process where 2 users approve the txn but most such victims & their "staff" have no clue about such features/service & happily operate their current acc with typical internet banking/option. All standard companies use only corporate internet banking with multi level user authentication.

@aam_aadmi