Zerodha’s Nithin Kamath Warns Against New Scam Which Could Drain Your Bank Accounts
Zerodha’s co-founder and CEO, Nithin Kamath, recently took to social media to alert users about a new scam that could potentially drain their bank accounts. In a video shared by Zerodha, Kamath explained the tactics scammers use, who they target, and how individuals can protect themselves from falling victim to such scams.
Picture this scenario: a stranger approaches you and requests to use your phone for an emergency call. Most people with good intentions would likely hand over their phone. However, Kamath warned that this seemingly innocent request is actually part of a new scam. Scammers can intercept your OTPs and drain your bank accounts, causing significant financial harm without your knowledge.
Kamath’s post has garnered over 450,000 views, emphasizing the importance of being vigilant against such fraudulent activities. Stay informed, stay protected.
The video shared by Mr. Kamath provides a detailed explanation of how scammers can manipulate your phone to access personal information and make unauthorized transactions. By pretending to use your phone, scammers can download apps, open existing ones, and change settings to forward calls, messages, and alerts from your banks to their numbers. This allows them to access your bank account, OTPs, and passwords. To protect yourself from such scams, it is recommended not to hand your phone over to strangers. If approached with such requests, offer to dial the number for them and put the phone on speaker.
Since its release, Mr. Kamath’s post has garnered over 450,000 views. One user commented, “You won’t see anything unusual happening. No obvious signs of tampering, which is what makes it so dangerous… You won’t realize what’s happening until it’s too late.”
Another user expressed concern, stating, “Thanks for pointing this out… but this is sad. Already a low trust society… this makes things even worse.”
A user suggested that Nithin Kamath translate the video into various Indian languages to increase its impact, as scammers often use local languages to communicate with their targets.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.