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Police warn public against sharing One-Time Passwords (OTP) amidst rise in financial scams

By: Isuru Parakrama

September 30, Colombo (LNW): The Police Media Spokesperson has issued a stern warning to the public, urging everyone to refrain from sharing One-Time Passwords (OTPs) provided by banks, following a surge in financial scams.

These scams have resulted in significant financial losses, with many individuals being tricked into revealing their OTPs to fraudsters.

Authorities have emphasised that banks will never request an OTP from customers, and any such request should be treated with extreme caution.

The reminder comes in light of recent incidents where scammers have posed as bank officials, gaining access to sensitive financial information through fraudulent means.

The police have urged the public to be vigilant, highlighting that OTPs are a crucial layer of protection in online transactions.

Sharing these codes can provide scammers with direct access to accounts, allowing them to make unauthorised withdrawals or transfers.

Financial institutions have reinforced this message, reminding customers to never disclose personal or banking information to unknown callers or through unsolicited messages.

The rise in these scams has prompted law enforcement to increase awareness campaigns, aiming to educate the public about the importance of safeguarding their financial details.

Whilst the perpetrators often present themselves as legitimate entities, the police are reminding citizens that no reputable bank would ever require such confidential information.

In response to this growing threat, the authorities are also urging those affected to report any suspicious activity immediately, so they can take swift action to prevent further losses.

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