William Tan in ST Forum today. Thought it's something for us to be mindful of.
"Recently, I received an SMS alert asking me to enter a one-time password (OTP) in order to complete a €613.62 (S$1,069) transaction.
As the transaction did not originate from me, I ignored the message. I presumed that the transaction was rejected.
But I was surprised to find the transaction charged to my account. I was also charged for 20 other unauthorised transactions (no OTP alerts were received for these).
The bank concerned subsequently reversed the charges."