Don't fall into the trap of scammers trying to increase your credit card limit; this is how OTP fraud happens.

Credit Card Limit Fraud: Scammers send fake links promising to increase your credit card limit and defraud you. Learn how to avoid this fraud.

Credit Card Limit Fraud: Credit cards have become essential for almost everyone these days. Whether for shopping or bill payments, people have become accustomed to them. This is why scammers are now targeting credit cards. Recently, a new format has emerged in the name of increasing your credit card limit. Just one call, one link, and one OTP, and a large amount of money disappears from your account.

Scammers posing as bank employees gain trust and promise you an immediate increase. People believe the increase is a good thing and, hoping for it, open the link. What happens next is that they empty your account. In this scam, you don't even realize you're being scammed. Learn how this fraud happens.

How is this fraud perpetrated?

This credit card scam begins with a call or message offering a limit upgrade. Clicking on the link opens a fake form that steals your card information. The scammers then initiate the transaction and receive an OTP on your mobile phone. They immediately call and tell you that the OTP must be provided to complete the limit increase process.

People trust you and share it. Once they have the OTP, money is transferred from your account. In many cases, the amount can reach lakhs. In this scam, people assume the bank is calling, but the bank never asks for an OTP. This is what people forget.

How to avoid this scam?

To avoid this type of scam, it's important to keep a few things in mind. Remember that the bank never asks for your information or OTP through a phone call, message, or link. Ignore such calls or messages immediately. Do not click on any suspicious links, and do not share information such as your card number, CVV, PIN, or OTP.

If a call appears genuine, contact your bank branch or the official helpline directly. Such cyber fraud has increased rapidly recently. Therefore, keep your mobile alerts active, use multi-factor authentication on your card, and check your statement regularly.