UPI is widely used in India. According to NPCI, there has been a record increase in the number of people making UPI payments as well as the number of payments made through it. Most of the digital payment users are preferring UPI. Many scams related to UPI are also coming to light due to its popularity. This scam is not only happening to common users, but scammers are also cheating merchants i.e. those who accept UPI payments.
If some things are not taken care of in time, hackers can do a big fraud on you. Digital connectivity and the increase in smartphone usage have completely changed the online payment preference over the past few years. Digital fraud has also increased due to the increasing number of online payments.
This is how fraud is being done
If we look at the cases that have come to light in the recent past, scammers are using fake apps with UPI transaction interface. These interfaces look so realistic that you can make mistakes too. In which traders cheat by showing fake transactions. Apart from this, scammers are also adopting methods like autopay feature and QR code replacement. However, vigilance by you can save you from such scams.
Keep these things in mind
- To avoid this type of fraud, you have to verify every transaction in the UPI app. As soon as someone pays you through UPI, open the UPI app and check that transaction.
- Apart from this you have to check your bank account regularly. You have to match each transaction with the bank statement. Doing so will help you keep track of any fraud that has happened to you.
- If you are a UPI merchant you should not keep your QR code scanner in an open area. Since it is kept in the open, scammers can tamper with it and keep a QR scanner of their account. Because of this, every UPI payment will go to the scammers account.
- Apart from this another very important thing is that you need to have at least one UPI account. By doing this you will not face any problem in transaction verification. Due to having multiple UPI accounts, it can be difficult to track transactions.
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