Unified Payment Interface (UPI) which is used for money transactions in many countries of the world including India. But the easier it has made people’s lives, the more concerns have been brought. In fact, due to increasing digital connectivity, the frauds related to UPI have also increased. Let us tell you how many types of UPI frauds are, so that you can be alert.
1. Fishing Scam
Scammers try to contact users by sending fake UPI payment requests or by presenting it as bank or service providers. You can also be cheated to ask for your UPI PIN or other sensitive information.
2. Fake UPI Apps
In such a situation, scammers first create a fake UPI app which looks exactly like a real app. You will be asked to download these apps and as soon as you download them and put your details, all your data goes to the scammers.
3. Call the voice and call
The fraudsters will call you and try to know the information like your UPI PIN or OTP by calling you a bank officer or UPI employee.
4. QR Code Spoken
You may be surprised to know that fraudsters can also manipulate the QR code. Therefore, before scanning, be sure to cross-check the QR code whether the QR code belongs to the person you are sending money.
5. Sim card swap
Nowadays fraudsters also cheat mobile service providers. They talk about swapping the user’s SIM card and takes their UPI-linked mobile number. In this way, they have complete control over the OTP and can also reach the UPI account.
6. Fraud using social media profiles
Nowadays, scamsters use personal information from your social media profiles to win your trust. They assure you so much that you can also agree to share your UPI Credit.
7. Fake UPI ID request
Fake -like fake UPI IDs can use and send payment requests. In such a situation, users understand this request as real and fall victim to fraud.
What to do to avoid UPI scam?
Download apps from the official app store or Play Store. Do not click on suspicious links through email, text or social media. Cross-check them before using UPI payment requests and QR code. Do not share information like UPI PIN, OTP or password with phone or online.
