The PIN Change Scam
Synopsis
An artisan received a deceptive SMS, prompting him to generate an OTP to supposedly secure his bank’s mobile app but instead facilitated the unauthorized wiping of his entire savings.
An unsuspecting artisan received an SMS, falsely claiming to be from his bank, instructing him to initiate a PIN change by generating an OTP for a system update on his bank’s mobile app. Trusting the message, he complied, unknowingly granting scammers access to his account.
The scammers swiftly emptied his bank account, leaving him financially devastated. The incident underscores the critical importance of verifying such communications directly with the bank before taking any action.
Lesson
It’s vital to be skeptical of unsolicited messages asking for sensitive information or actions regarding bank accounts. Always confirm with the bank through official channels before proceeding with any requests to change security details or generate OTPs.