Zerodha's Nithin Kamat Warns Citizens Against New Digital Scam | VIDEO

Bengaluru: Nithin Kamath, the co-founder and CEO of Zerodha, has released an alarming video on social media about a new digital scam that has the potential to drain bank accounts. In a video shared on social media, Kamath detailed how scammers are exploiting people's goodwill to gain access to their personal devices and financial information.  

The scam begins with a seemingly innocent request from a stranger to use your phone for an emergency call. While appearing to make the call, the scammer can secretly download applications, access existing apps, or alter settings to forward calls and messages, including banking alerts, to their numbers. This allows them to intercept one-time passwords (OTPs) and perform unauthorised transactions.

Kamath emphasised the importance of not handing over your phone to strangers. Instead, he suggested offering to dial the number yourself and placing the call on speaker mode. This simple precaution can prevent scammers from accessing your personal information and bank details.

The video has gained traction online, with many users expressing their concerns and sharing their own experiences with similar scams. Some users have suggested translating the awareness video into multiple Indian languages to reach a broader audience, as scammers often communicate in local languages.

Kamath's warning serves as a crucial reminder for individuals to stay vigilant and cautious while interacting with strangers, especially in situations involving personal devices. As digital scams continue to evolve, awareness and preventive measures remain key to safeguarding against financial fraud.