UPI FRAUDS

Published By Livemint | 30 May, 2023

95,000-plus UPI frauds were reported in India in 2022. Here are 8 ways users lose money on GooglePay, Paytm, PhonePe, and other financial apps. Credit : unsplash

Entering pin while recieving money

When users are asked to enter the pin during a QR transaction, the money is deducted instead of credited. Credit : unsplash

Not verifying the identity of the caller

Fraudsters often claim to be customer care executives or relatives when asking for payments. Credit : Unsplash

Fake customer care numbers on Google

Fraudsters create fake websites to dupe people. You are advised to look at official websites or verify with a point of contact. Credit : unsplash

Revealing your UPI PIN to strangers

Sharing your UPI PIN with strangers is another big cause of UPI fraud. Credit : Unsplash

Using public WiFi for UPI transactions

No online financial transaction, including UPI transactions should be done on public Wi-Fi. Credit : unsplash

Clicking on links sent by unknown people

Malware and viruses attached to such links can steal sensitive information from your phone including bank details. Credit : Unsplash

Downloading apps that claim will help in payment support

Teamviewer, AnyDesk and Quickshare take control of your e-wallets, leading to UPI frauds. Credit : unsplash

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