NPCI warns public of a fraud campaign dubbed Call Merging Scam

Authorities in India have issued warnings about a new fraudulent activity known as the Call Merging Scam. The report revealed that the campaign tricks victims into disclosing their One-Time Passwords (OTPs).

The NPCI oversees the Unified Payments Interface (UPI) and has expressed serious worries about the newly discovered threat. Fraudsters use sophisticated methods to deceive unwary victims into disclosing vital information. The scam begins with the scammers calling the target and pretending to have obtained their phone number from a common friend.

Next, these malicious actors urge the victim to merge the call with another person, supposedly a buddy calling from a separate number. After merging, the victim will inadvertently connect to a valid OTP verification call from their bank.

The fraud is carefully designed so that when the bank’s automated system demands the OTP, a victim can unintentionally provide it to the scammer. The fraudster conducts illicit transactions once attackers acquire the OTP, resulting in financial losses.

 

The Call Merging Scam typically succeeds if caller recipients are not cautious.

 

Taking preventive measures and being aware of incoming calls and ongoing transactions are some of the best ways to combat this new Call Merging Scam.

Hence, individuals should avoid or minimise merging calls from unknown numbers since scammers use this strategy to gain trust and access sensitive information.

In addition, verify the caller’s identity, especially if they claim to be a bank official or a familiar contact, before taking any action. If you receive an OTP for an uninitiated transaction, report it immediately by calling relevant authorities and notifying the bank to avoid potential fraud.

A financial AI assistant that can combine financial awareness and AI-powered security measures can significantly improve consumer protection. Advanced technologies, such as machine learning-based scam detection, can also assist in detecting suspicious behaviours in an actual scenario.

Furthermore, biometric authentication can add another layer of protection, while natural language processing increases scam detection and financial transaction security.

Therefore, individuals can effectively protect their financial data from these emerging cyber threats by being proactive in obtaining information about the latest threat trends and using modern security measures.