Datanomics: OTP scams topped cyber fraud as Telangana became a hotspot

The RBI has issued new authentication guidelines to secure digital payments, mandating dynamic two-factor authentication and promoting biometrics beyond the one-time password (OTP) system. The new norms are slated to kick in from April 1. According to 2023 data, cyber fraud accounted for 46.5 per cent of total cybercrime cases under the IPC, and OTP scams topped this list.