Online fraud may rise during festivals, Rastra Bank urges keeping OTPs and passwords secret

Nepal Rastra Bank's Financial Information Unit has urged the public to stay alert, saying the risk of online fraud could rise along with increased transactions during the festival season.

The unit said analysis of banking transactions shows online fraud incidents are on the rise, and that fraudsters tend to be active on social media and digital platforms during Dasain and Tihar.

According to the unit, scammers may send fake links claiming people have won a "Dasain Dhamaka" or "Tihar Chhath" bumper prize, then ask for money upfront under the guise of service charges or taxes.

There is also a risk of fake bank or wallet websites stealing passwords, OTPs and personal details by threatening that accounts will be closed if KYC is not updated.

The unit said a pattern may also appear of advertisements offering heavy discounts on branded goods, where payment is taken but goods are never sent, or customers are blocked afterward.

The unit has advised against sharing OTPs, passwords and PINs with anyone, and against opening suspicious links. It also advised conducting online transactions only through official websites.

If fraud is suspected, the unit has urged people to immediately inform their bank or wallet provider, the Nepal Police Cyber Bureau, or the nearest police office.