In the era of Digital India, UPI has completely transformed the payment system. Today, payments can be made via mobile phone everywhere, from small shops to large malls. This has significantly reduced the need for cash. Almost every family member has a payment app on their phone. However, as digital payments have grown rapidly, so too have cases of cyber fraud. Therefore, it has become essential to prioritize security along with convenience.

With the increasing use of digital payments, the growing threat

Online fraud methods in the country have become more advanced than ever. Fraudsters are now targeting people through phone calls, fake links, fake customer care, and fake payment requests. In many cases, lakhs of rupees have been withdrawn from people’s bank accounts. In most cases, a small mistake or carelessness by the user becomes an opportunity for fraudsters.

Link UPI to a Separate Savings Account

If someone wants to minimize risk, the best way is to link UPI to a separate account from their main savings account. Maintaining a limited balance in the account linked to UPI is considered safer. This will limit losses and protect the entire savings fund if fraud occurs.

Set Transaction Limits

Many banks and payment apps offer the option to set transaction limits. Using this feature, users can set daily or per-transaction limits. This setting helps prevent major losses in case of suspicious activity. This feature is especially important for older and new users.

Be sure to check the details before making a payment

UPI’s greatest strength is its high speed, but this haste often leads to losses. It’s important to check the receiver’s name before making a payment. After scanning the QR code, it’s important to carefully read the information displayed on the screen. Fraudsters often pressure users to make payments quickly so they don’t have time to think.

Make family members aware

Elderly members of the family are often easy targets for digital scams. Therefore, it’s important to teach them how to recognize payment requests, avoid fake calls, and keep their PIN confidential. Setting a low transaction limit on their accounts can also be a good step.

Never Share Your UPI PIN

You should never share your UPI PIN with anyone. Many people are careless when handing over their phones for repair at a shop or in a public place. If the PIN is leaked, it becomes easy for fraudsters to withdraw money from your bank account.

Avoid Suspicious Links and Apps

Clicking on an unknown link can install malware on your phone. This can lead to the theft of banking details, OTPs, and financial data. Therefore, it’s important to verify the source of any link before clicking on it.

About the Author

Rohit P

My name is Rohit Pal, and I have been working in the field of journalism for the past five years. During this time, I have written on a variety of topics, including business, automobiles, technology, and politics. I have worked with several major organizations and am currently working with Timesbull.

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