Banks are asking customers not to share the OTP, CVV with anyone

Since the EMI moratorium scheme is available in India, the fraud cases related to EMI Moratorium has also been increased. People are trying to fake it and trying to take the money of those who are trying to put the EMI moratorium.

Due to that, the banks have strongly restricted the customers not to share any such details like OTP, account number or CVV with anyone as it is not required at all and none of the banks are asking for the same.

Axis bank has sent an e-mail to all their customers regarding the same. The bank’s email reads- Imposters may contact you to help postpone your EMI payments and request you to share OTP, CVV, password or PIN related to your banking accounts. Stay aware! If the details are shared, the fraudster can have unwarranted access to your banking information leading to financial loss. Beware of EMI Moratorium Frauds!,”

On the same, SBI has also tweeted few days back saying- “In such frauds customers get calls asking them to share their OTP in order to postpone their loan EMIs. Once the OTP is shared the amount is immediately siphoned away by fraudsters”.