TRAI’s decision: Traceability of OTP messages

With the increasing use of the Internet and smartphones, the risk of cyber crimes has also increased. While smartphones have made our lives easier, they have also become an easy way for scammers and cyber criminals. Incidents of fraud through OTP and other online messages have now become common to deceive people. To deal with this threat, TRAI has directed telecom companies to implement traceability for tracking OTP and other commercial messages. The purpose of this change is to prevent online fraud and scams.

Traceability implementation date: December 1

In August, TRAI had directed to implement this rule, but the companies were given some extra time for this. Earlier this deadline was till October 31, but on the demand of Jio, Airtel, Vi and BSNL, it was extended to November 31. Now, from December 1, telecom companies will have to implement this rule.

There may be a delay in OTP messages

When telecom companies implement this new rule, there may be some delay in receiving OTP messages. If you receive OTP for banking, reservation or other important tasks, then you may face a slight delay in it. The reason for this is that now all OTPs and other types of messages will be tracked, so that scammers do not get a chance to commit fraud through OTP.

TRAI’s objective: Prevention of scams

TRAI has taken this step especially because many times scammers gain access to users’ devices through fake OTP messages and this causes financial loss to the users. To deal with such messages, TRAI has asked telecom companies to strictly implement this rule.

The result: a secure and reliable experience

With this change, while there may be a slight delay in the OTP message, on the other hand, this step will provide telecom users with a secure and fraud-free experience. This change may pose a big challenge for telecom companies in the future, but its purpose is to increase online security for users.

After this new rule coming into effect from December 1, users of Jio, Airtel, Vi and BSNL may face a slight delay in OTP and other messages. However, this step has been taken to avoid online fraud and scams, which will give users a safe and secure experience in the future.

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On one hand, where technology is making our life easier, on the other hand, this technology is also becoming a noose around people’s neck in many ways. However, at present we will only talk about cyber fraud.

You must have heard how the OTP received on the phone was asked from such and such a person and as soon as the OTP was given, the money was lost from his account. Now since this thing has spread and people have become more alert than before, the thugs have found a new way.

In the new method, your UPI account linked to the bank is being targeted. It is important for you to know such incidents that have happened with many people so that you do not become a victim of it. If any unknown person asks you to do this kind of work on the phone, then immediately disconnect the phone and report the number. With this, you will not only protect yourself but will also be able to help more people.

How are you getting cheated?

Let’s understand it with an example. It is based on a true incident just the name has been changed. A 25-year-old man named Rahul ordered a phone worth Rs 30,000 from XYZ Shopping website. The phone was supposed to be delivered on 17th May but Rahul received a call on 16th May and the caller introduced himself as the customer care of XYZ Company. After this, he told Rahul the details of his luggage etc. and said that he has to confirm the address.

Link to confirm address

However, Rahul had already entered his address on the shopping website. That’s why now that doubt has become more confirmed that it is a call of some thug only. Rahul continued talking and the thug said that a link is being sent to you, you have to confirm the address by clicking on it. When Rahul clicked on it, a UPI payment gateway opened. In this, the details of his bank were sought. When Rahul asked the thug about this, he said that to confirm the address, Rahul would have to pay Rs 5 first. Obviously, if the bank details were entered, the bank account would have been empty.

Faced with the thug

After this, Rahul told him that he has understood that you are not a customer care but a thug. Along with this, Rahul also told him that he has made a video of this incident. On hearing this, the thug got angry and threatened to delete the video. After this the phone was disconnected.

The post Without OTP Scam: New way to break into bank account, Now even scammers are not asking for OTP, small mistake and account empty first appeared on Rightsofemployees.com.

You can also transfer money from one account to another. All this has been possible because of the Aadhaar Enabled Payment System (AePS) . This system has been developed by the National Payment Corporation of India (NPCI) . Digital transactions can be done by entering the Aadhaar number and verifying with fingerprint. It is also quite secure as it does not require providing bank details.

This payment system is based on the Unified Payment Interface (UPI) platform. It is a type of bank-based model that allows online transactions through Aadhaar authentication at ATMs, kiosks and mobile devices.

If you want to take advantage of this service, then it is necessary that your Aadhaar card is linked to the bank account. If your account is not linked with the bank, then you will not be able to do money transactions through this system. Under this system, no OTP and PIN is required for doing transactions. One Aadhaar card can be linked to multiple bank accounts.

What are the services related to AePS?

With the help of AePS system, the user can withdraw money, check balance, deposit money and transfer funds from Aadhaar to Aadhaar. Aadhaar Based Payment System (AePS) includes balance enquiry, money withdrawal, deposit, Aadhaar to Aadhaar fund transfer, payments, transactions and other such services. This service allows the customer to do doorstep banking and avail basic facilities of the bank without visiting any bank branch.

How to do transaction

You can use Aadhaar Enabled Payment System (AePS) by visiting the banking correspondent or you can avail this service by calling him at home. Common Service Center (CSC) operators also provide this service. Banking correspondents are authorized by banks for digital transactions.

• Visit the Banking Correspondent or CSC Center of your area.
• Enter the 12 digit Aadhaar number in the OPS machine.
• Now choose the work to be done from Money Withdrawal, KYC or Balance Enquiry.
• If you want to withdraw money, enter the name of the bank and the amount you want to withdraw.
• Now place your finger on the machine to verify the biometric transaction.
• Once the biometric is verified, your transaction will be complete.

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The bank has made this big change to protect its customers from fraud. Soon this rule will be seen applicable on SBI ATMs. This rule will act as an additional safeguard against unauthorized transactions.

According to the bank, while completing the transaction, the bank customers will have to share the OTP while withdrawing cash from the ATM, so that it is ensured that the ATM user is the right user. OTP is a system-generated four-digit number that the bank will send to the customer’s registered mobile number. This OTP will authenticate the cash withdrawal and will be valid for only one transaction.

OTP cash withdrawal started from January 1, 2020

The country’s largest lending bank SBI had started OTP-based cash withdrawal services from January 1, 2020. SBI has been creating awareness about ATM frauds through social media and other platforms from time to time. It is appealing to all its customers to avail the service.

OTP will be required in transactions of 10 thousand or above

Now this service will come in handy for SBI customers at the time of withdrawing cash from ATMs. SBI made these rules in view of the increasing fraud, cyber crime. Let us tell you that customers withdrawing Rs 10,000 or more in a single transaction from SBI ATMs will require OTP to complete the transaction.

Withdraw cash using OTP

You must have your Debit Card and Mobile Phone while withdrawing cash from SBI ATM OTP will come Enter the OTP received on your phone on the ATM screen After entering the valid OTP, the transaction will be completed

The post ATM Cash Withdrawal Rules: Big news for SBI customers, now the method of withdrawing cash from ATM has changed, read full details first appeared on Rightsofemployees.com.

According to the bank, while completing the transaction, the bank customers will have to share the OTP while withdrawing cash from the ATM, so that it is ensured that the ATM user is the right user. OTP is a system-generated four-digit number that the bank will send to the customer’s registered mobile number. This OTP will authenticate the cash withdrawal and will be valid for only one transaction.

OTP cash withdrawal started from January 1, 2020

The country’s largest lending bank SBI had started OTP-based cash withdrawal services from January 1, 2020. SBI has been creating awareness about ATM frauds through social media and other platforms from time to time. It is appealing to all its customers to avail the service.

OTP will be required in transactions of 10 thousand or above

Now this service will come in handy for SBI customers at the time of withdrawing cash from ATMs. SBI made these rules in view of the increasing fraud, cyber crime. Let us tell you that customers withdrawing Rs 10,000 or more in a single transaction from SBI ATMs will require OTP to complete the transaction.

Withdraw cash using OTP

You must have your Debit Card and Mobile Phone while withdrawing cash from SBI ATM OTP will come Enter the OTP received on your phone on the ATM screen After entering the valid OTP, the transaction will be completed

The post ATM Cash Withdrawal Rules Change: Attention SBI customers, now the method of withdrawing cash from ATM has changed, read full details first appeared on Rightsofemployees.com.

Now you will need a special number to withdraw cash from SBI ATM. If you do not enter this number, you will not be able to withdraw money. Let’s know.

The bank informed that now OTP will be required to withdraw money from ATM. If you do not have OTP then you will not be able to withdraw money. This OTP will come on the mobile number registered with your bank.

Is this the new rule?

The bank has implemented this new rule to avoid fraud. In this, when you withdraw more than Rs 10000 from an ATM, you will have to enter an OTP sent to the mobile number registered with the bank account.

Here is the whole process

Every time you will need OTP to withdraw cash above 10000 thousand, without this you will not be able to withdraw money.

This OTP will be a 4-digit number, which will be used only once for withdrawing money.

In this, you will enter your ATM PIN and after that you will enter the amount. Now when you proceed, you will be asked to enter OTP.

Now when you enter the OTP, your cash will come out.

That’s why the bank took this step

The bank has taken this step to prevent fraud. SBI has the largest network of 22,224 branches and 63,906 ATMs/CDMs in India with 71,705 BC outlets. At the same time, the number of customers using internet banking and mobile banking service is around 91 million and 20 million.

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In view of the incidents of fraud, SBI has made cash withdrawal from ATMs more secure. In view of this, OTP is sent to the customer’s mobile. Then the same OTP has to be entered in the ATM. The name of this new service is OTP based cash withdrawal facility. OTP is received on whatever mobile number of the customer is entered in the bank.

One time transaction can be done with one OTP. It is a means of verification of the customer. With this, the same person will be able to withdraw money from the ATM whose OTP will be sent to his mobile. And the OTP will go to the mobile of the same person who has an account in SBI. State Bank has described OTP based cash withdrawal as a vaccination against fraud people. SBI says that protecting customers from fraud is its priority.

Also know how to withdraw money from OTP. Actually, when a customer puts a debit card in an ATM, then an OTP comes on his mobile phone. The customer has to first enter this OTP at the ATM. Only after that the process of cash withdrawal will start. Therefore, if you are a customer of SBI and are going to withdraw money from SBI ATM, then do not forget to take mobile phone along with you.

The OTP sent to your mobile is a 4 digit number. This OTP tells that the customer is correct as it is sent to the registered number. OTP is being used in the transaction for authentication or rather for verification. Nowadays OTP has been implemented in almost every banking service so that fraud can be got rid of. Fraudsters will not be able to withdraw cash from OTP based ATMs.

For OTP based cash withdrawal, if the customer wants to withdraw more than Rs 10,000, then he has to enter the OTP. Apart from this, the customer will also have to enter the PIN number of the debit card. This gives double security in ATM withdrawal. First OTP and then Debit Card PIN. Then money can be withdrawn from ATM.

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