Rashtra Bank’s request not to give OTP when asked as bank and wallet employees

Nepal Rastra Bank has requested not to ask for OTP to update KYC as bank and wallet employees. By issuing a notification, the National Bank has requested not to give OTP on demand for some time.

For some time now, unauthorized persons claiming to be employees of banks and financial institutions, payment service providers, have been requesting details such as One Time Password (OTP)/messages with a certain digit number from the concerned customer to update the customer identification (KYC) details.

Guru Prasad Paudel, Executive Director of Payments Department of Nepal Rastra Bank, said that there is an increasing tendency for unauthorized persons to reset the passwords of electronic payment instruments such as mobile banking, internet banking/connect IPS wallets, gain access to the customer’s account and transfer money from the customer’s account to various banks and financial institutions and wallets.

Rashtra Bank requests not to provide any information about OTP code requested by unknown persons. If someone has reduced or incited to reduce this type of incident, the information should be registered immediately with the relevant service provider organization and the Financial Consumer Protection Portal of this bank or the email address of this bank. [email protected] Paudel informed that it can be given in

The National Bank has also instructed the organizations that have received a license to carry out payment-related activities to closely monitor such unwanted activities.

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