Cyber fraud and online banking scams are rising rapidly across the country. Elderly people are often the main targets because scammers trick them into sharing OTPs, bank details, or clicking fake links.
In many cases, accounts get emptied within minutes.
To stop this, a new “Double OTP System” has been introduced. It is being seen as an important step to improve online banking safety.
According to a report by the Economic Times, Haryana Police and HDFC Bank have jointly launched this security feature.
What is the Double OTP System?
The Double OTP System is a new security method designed to make online banking transactions safer.
Unlike the usual process where only one OTP is needed, this system requires two-step verification. Users must enter two OTPs before a large transaction is completed.
This helps protect people, especially senior citizens, who often fall victim to fake calls, phishing links, and KYC scams.
How the system works
When a user makes a large online transaction, the first OTP is sent to their registered mobile number.
After entering the first OTP, a second verification step is triggered. This may include another OTP or an approval request.
Only after both steps are successfully completed will the transaction go through and the money be transferred.
This system is part of a joint initiative by HDFC Bank and Haryana Police to strengthen digital banking security and spread awareness about cyber fraud.
What benefits users will get
With the Double OTP System, the risk of money being stolen from bank accounts can be greatly reduced.
Even if a scammer somehow gets the first OTP, they still cannot complete the transaction without the second verification.
This adds an extra layer of protection for users and makes online banking much safer.
However, experts also say that technology alone is not enough. Users must stay alert and avoid sharing OTPs, clicking unknown links, or responding to suspicious calls.