Trai plans uniform OTP format to curb fraud | Today’s news

New Delhi: As one-time passwords (OTPs) become a routine part of online banking and shopping, the different formats in which these messages come can make it difficult for users to distinguish real alerts from scams. The telecoms regulator is now trying to standardize OTP messages across banks, online platforms and other companies to make them easier to spot and harder for fraudsters to imitate, two people with knowledge of the discussions said. However, experts see only limited effectiveness.