Business And Markets

OTP Halves Phishing Cases

OTP Halves Phishing Cases
OTP Halves Phishing Cases

The Central Bank of Iran's recent measure to make one-time password (OTP) obligatory has made it harder for cardholders to make online and mobile payment transactions. 
However, the rule has resulted in a 50% drop in total number of illegal withdrawals, according to the deputy head of Tehran Cyber Police Department.
"Fortunately OTP has made a considerable impact on cutting cybercrime. However, the banking payment network needs to address the shortcomings to lessen risks associated with unruly operations," Colonel Davood Moazami Goodarzi was quoted as saying by way2pay website. 
"We have identified a number of bugs and sent all the relevant information to the CBI to take charge," he added.


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