HSBC UK has issued an urgent warning to all customers about fraudsters tricking people into disclosing bank passcodes which they can then use to go on online spending sprees.
The bank is urging people never to reveal their one-time passcode (OTP) to others, after recording an increase in related scams.
It said scams involving suspected disclosed passcodes increased by 25 per cent in August compared with March. Someone may be prompted to enter a passcode to authenticate a transaction when using their card online, the unique code is texted to the customer, who then enters it on the retailer's website.
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