Online Shopping Safety – OTP Payment Scam

otp payment scam

OTP Payment Scam – Introduction

OTP Payment Scam is a scam that scammer claims to be as one of your friends & family members or Banks, Bank Negara & Police Officers.

They usually will contact via social communication platforms like Whatsapp/Line/Wechat to ask for your OTP (One-Time Password).

Often we’ll receive OTP SMS when we make any transaction online. But do notice this, sometimes, you will receive a message claiming for their OTP sent to your phone number.

Scammers tend to deceive people into giving away their OTPs or are obtaining them through malware.

OTP Payment Scam – Modus Operandi

Firstly, as we’ve already known and already get used to the Online Banking system, we will receive the OTP when we’re making any transaction.

Whether it’s a Fund Transfer, Bill Payment, or any Banking online that is related to the Online Banking system.

For example, they will Whatsapp/Line/Wechat by impersonating your friends and family to assist you in your transaction.

Disguise as one of Bank, Bank Negara, and maybe a Police Officers to assist the authority in an inquiry/investigation.

Therefore if you chose to respond to provide the scammers your OTP, scammers will gain access to your account with the code.

At the end of the day, they will use your personal/banking/online shopping platform details to make unauthorized transactions.

Most importantly, do be aware of any transaction and to avoid this kind of Scams which your online banking information kept only to you.

Nowadays people usually posted Banking information on social media. This is the best way or easier for scammers to retrieve the information without any hassle that’ll lead to your account information exposed.

Takeaway Points

Takeaway Points
1. NEVER share with anyone whosoever your OTP (One-Time Password/One Token Authorisation).

2. DO NOT register/use anyone else handphone apart from your own handphone number to receive OTP.


George Lo

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