Can Drain Your Bank Accounts in minutes: Zerodha’s Nithin Kamath warns of new scam
Zerodha’s Nithin Kamath Warns Against New Scam Which Could Drain Your Bank Accounts. Nithin Kamath shared a video produced by Zerodha explaining how scammers operate, who they target and how people can protect themselves from such scams.
Zerodha co-founder Nithin Kamath shared a video on social media warning people about a new phone scam. Read on to check all the details.
What if helping someone in need could put your finances at risk? Imagine a stranger approaches you, claiming their phone battery is dead and asking to borrow your phone for an urgent call. While it seems harmless, this act of kindness could lead to a financial disaster.
Zerodha CEO Nithin Kamath has issued a warning about a new scam that exploits such situations. Sharing a video on X, he cautioned, Imagine this: A stranger approaches you and asks to use your phone to make an emergency call. Most well-meaning people would probably hand over their phone. But this is a new scam.
Zerodha co-founder and CEO Nithin Kamath recently took to social media to warn users against a new scam which could potentially drain bank accounts. He shared a video produced by Zerodha explaining how scammers operate, who they target and how people can protect themselves from such scams.
“Imagine this: A stranger approaches you and asks to use your phone to make an emergency call. Most well-meaning people would probably hand over their phone. But this is a new scam,” the billionaire warned. “From intercepting your OTPs to draining your bank accounts, scammers can cause serious damage without you even realizing it,” he added.
The video shared by Mr Kamath further explained how a scammer, while pretending to use your phone, can download new apps or open existing ones to download personal information or change your phone’s settings so that your calls and messages are forwarded to their numbers, including alerts from your banks.
With this information, the scammers can access your bank account, and OTPs and make unauthorised transactions, and can also change your passwords. So, to protect yourself from such scams, the video recommends not handing your phone over to strangers. But in case people approach you with such requests, offer to dial the number for them and put the phone on speaker.
With Thanks and Reference to:https://www.indiatoday.in/business/story/can-drain-bank-accounts-in-minutes-zerodha-nithin-kamath-warns-of-new-scam-2665599-2025-01-16 and https://www.ndtv.com/feature/zerodhas-nithin-kamath-warns-against-new-scam-which-could-drain-your-bank-accounts-see-post-7484233
