Central Bank of Egypt issues urgent message regarding OTPs

The Central Bank of Egypt (CBE) has issued an urgent caution to its customers regarding the sharing of One-Time Passwords (OTPs) used in banking transactions. The bank stresses that revealing this code could put users at risk during their financial activities. The warning was posted on the CBE's official Facebook page, urging users to remain vigilant against fraud attempts aimed at securing the OTP verification codes sent to their mobile phones.

The OTP code is a security measure used in banking transactions, sent to the account holder's phone to confirm payments. It is meant for single use only by the account's legitimate owner. The CBE warns that sharing this code with anyone could expose users to various risks, including unauthorized transactions and potential account access by others.

In their advisory, the CBE outlines several dangers of sharing OTP codes. For instance, the code could be used by an unauthorized person to make purchases on the account holder's behalf, access the bank account, or transfer funds to another account. The CBE advises that users treat their OTP code with utmost confidentiality, as it is vital for confirming payments and is valid for one-time use. The bank emphasizes that disclosing this code could lead to fraud, scams, and unauthorized use of the account.