OTP fraud: Retired BSNL staffer loses Rs 10 lakh in Karnataka

BELAGAVI: Even a retired BSNL worker dropped his life savings in one day, following fraudsters posing as internet shareholders got him to talk about files and one-time passwords (OTPs) into loot his accounts.
Police discovered the fraudsters had debited Rs 10 lakh at a shocking 102 on line trades.
Legislation are on into the way the conmen was able to run so many trades and the lender didn’t red-flag such odd activity.
Yallappa Narayan Jadav, 57, received a telephone call on June 9 by a guy who promised to become a State Bank of India (SBI) representative running KYC updation.
After the caller searched files, Jadav flatly denied, stating he’d visit the branch closest to his home at Maruti Galli and hands over the records.
The fraudster harangued himsaying KYC services aren’t accessible at bank branches because of Covid and the procedure is online today.
Jadav relented and about the caller’s insistence, delivered copies of his Aadhaar card and bank passbook into some WhatsApp account cited by him.
Jadav shortly got an internet connection along with the caller asked him to click it.
“I really thought that the call was out of a financial institution and did everything as instructed,” Jadav stated.
“After clicking on the link, I got an OTP and the caller asked me to talk about it with him” Shortly afterwards the caller told me that the updation couldn’t go through because of technical glitches in the system and also the procedure would need to be carried out .
This has been repeated a couple more days and Jadav became questionable.
Hanging up, he moved into a local ATM and also to his shock, found that the Rs 10 lakh was pulled from his account.
“It was the savings I’d after operating for 25 decades,” explained Jadav, who hailed as a team D employee.
A case was registered at Belagavi Cyber, Economics and Narcotics (CEN) police station.
The fraudsters had completed a whopping 102 internet trades to draw and move the money to a different account.
Authorities have questioned SBI employees on why this unusually significant number of trades in a brief period wasn’t flagged by these and the client wasn’t intimated.