16 November 2018
Recently, there have been increasing reports on a new phone scam tactic where scammers will try to fool victims into sharing the TAC (Transaction Authorization Code) number.
The modus operandi of this scam is as follows:-
- The scammer / hacker will login to your online banking account by random password generation.
- The victim will receive a TAC number SMS even though they did not perform any online transaction.
- The scammer will contact the victim in a pretext of mistakenly registered the victim’s mobile number for online bank account.
- The scammer will come-up with all sorts of excuses / reasons to fool the victim into disclosing the TAC number.
- Once the victim shared the TAC number, the scammer is free to transfer money from the victim’s bank account.
If you encounter this scenario, please
- Do not share your TAC number to anyone over the phone.
- IGNORE all persuasive attempts, even if they threaten you or appeal to your sympathies.
- CHANGE your online bank account password immediately.
- If you receive TAC SMS without performing any online bank transaction, REPORT to the bank immediately.
Share with others.