” 22 bank accounts hacked, ₹5.3 lakh stolen in 48 hours” scream the headlines in a local newspaper on 28th January, 2018 morning.(Source: http://www.thehindu.com/news/cities/bangalore/22-bank-accounts-hacked-53-lakh-stolen-in-48-hours/article22538891.ece)
How did it happen? Two customers were duped of nearly 20,000 Rs and 50,000 Rs by a two conmen(or was it one?) who called the customers in the guise of “bank agents”. They were asked for their bank details and OTP(one time password) The customers readily obliged since the call was from their “bank”. In a short time, they noticed, that their money was fraudulently withdrawn.
This is the social engineering technique used by hackers and fraudsters.Let us see this in greater detail.