UPI Fraud: UPI has completely transformed the way we transact. The introduction of UPI has revolutionized India’s digital payments landscape. It allows us to instantly transfer money from one account to another. While this feature has made transactions easier and more convenient, it has also opened up new avenues for fraudsters and scammers.
Sometimes, small mistakes or carelessness can lead to cyber fraud. These fraudsters can exploit our haste and ignorance to defraud us. If you use UPI for transactions, you should be aware of certain things, otherwise you could become a victim of fraud.
Clicking or scanning unknown links or QR codes
1. You should never click on links sent from unknown sources or suspicious individuals. Also, don’t scan any unknown QR codes.
2. Many times fraudsters send these links to your smartphone by luring you with attractive rewards, cashback or something else.
3. As soon as you click on it, your important information goes to these fraudsters.
4. Scanning such links or QR codes can cause you huge losses.
Payment request
Many times it is seen that fraudsters send you a payment request of a large amount and mislead you into thinking that they are sending you money. Due to this greed, people accept that payment request and enter their UPI PIN. Due to this, the money deposited in their account goes to the fraudster. This is a kind of fraud. Please note that there is never a need to enter a PIN to receive money.
Do not share UPI PIN and OTP with anyone
You should not share your UPI PIN and One Time Password with anyone. Banks, RBI, or any other trusted institution will never call you and ask for your UPI PIN, OTP, or card details. If someone calls you and asks for such details, it could be a kind of fraud.