Everyday new types of frauds are happening from UPI, if updates are not kept then hard earned money will be looted

Due to the rapidly increasing UPI transactions, frauds through UPI are also increasing in the country. According to the data, in the financial year 2022-23, more than 95000 fraud cases of UPI transactions were registered.

Jun 1, 2023 - 20:03
Everyday new types of frauds are happening from UPI, if updates are not kept then hard earned money will be looted

The trend of online transactions has increased rapidly in the country. Unified Payments Interface (UPI) has proved to be a revolution in the growing digital transactions.
Due to the increase in UPI transactions, frauds related to UPI have also increased significantly. According to the Finance Ministry, over 95,000 fraudulent UPI transaction cases were registered in the last financial year.
Let us tell you that many types of fraud are done through UPI, in which payment apps and UPI have no hand, rather fraudsters cheat you. Today we will tell you how you can keep yourself safe while making payments through UPI.
Scammers have become so clever these days that now they send fake payment links directly to your app and if you do not pay attention to that link in a hurry and make the payment, then you can also become a victim of a scam.
Let us tell you that these links are fake and look like the original payment link. Banks and government agencies and other financial institutions never ask for financial information through SMS.
In case of UPI fraud, you can report it to the bank or e-wallet company and get it blocked immediately.
You too must have come across such a link at some point when you have been asked to make payment. Actually, these are 'request money' links, which are sent by fraudsters. Do not get trapped in such links and do not click on any link being lured by any prize or cashback.
Nowadays fraudsters deliberately send some money to your account through UPI and then call you and ask you to send it back.
When you are ready to return the money, they send you a link, if you click on that link then you can be a victim of scams again. It is better that you do not click on any link to refund the money.
To avoid fraudsters, keep changing your UPI PIN regularly so that your account can be safe.

Muskan Kumawat Journalist & Writer