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In the first half of 2024, UPI-related scams were the most prevalent financial scams in Delhi. Delhi Police data shows that by June, 25,924 complaints pertaining to UPI had been filed. According to a police official, scammers utilize a variety of techniques to obtain money using UPI, Today, UPI scams come in many forms, though the basic tricks remain the same. Here are some of the most common types:
- Phishing:
Scammers send fake messages or emails pretending to be from banks or UPI apps. They ask users to share confidential information like OTPs, UPI PINs, or login details. With this info, they carry out unauthorized transactions. These messages usually come from unknown numbers instead of official bank notifications.
- QR Code Tampering:
Fraudsters tamper with real QR codes at shops or create fake ones, redirecting payments to their own accounts. Users unknowingly send money to the scammer instead of the merchant.
- Fraud Sellers:
Fake sellers in online marketplaces scam buyers by selling counterfeit products or taking payments without delivering the items. The government is working on stricter e-commerce rules to protect consumers from such fraud.
- SIM Cloning Fraud:
Scammers clone your SIM card, allowing them to receive OTPs and even change your UPI PIN. Once they have control over your phone number, they can access your UPI account and perform fraudulent transactions.
- Vishing (Voice Phishing):
Scammers call users, pretending to be from banks or UPI service providers, and trick them into sharing sensitive information like OTPs or UPI PINs over the phone.
- App Cloning:
Fraudsters create fake UPI apps that look almost identical to real ones. When users download and use these apps, their sensitive information is stolen, allowing unauthorized transactions.
- Deceptive UPI IDs:
Scammers create fake UPI IDs to trick users into making payments. They often offer enticing deals or make urgent payment requests, luring people into sending money to fraudulent accounts.
- Unauthorized Transactions:
By accessing UPI IDs and PINs through apps like AnyDesk or screen monitoring software, fraudsters make unauthorized transactions without the victim's knowledge.
- Social Engineering:
Scammers manipulate users into revealing UPI details or making payments by offering rewards or pretending to provide technical help.
Be aware of these tricks and stay safe while using UPI!
Scams can be avoided if you take the right precautions. Here are some important tips to remember before making any digital transactions:
1. Stay Informed: Learn about the different types of UPI scams and stay updated on new fraud tactics. Knowledge is your best protection.
2. Verify Sources: Always check if messages, emails, or calls are really from your bank or UPI provider. Don’t click on suspicious links or share personal details without verifying the source.
3. Use Official Apps: Only download UPI apps from trusted app stores like Google Play or Apple App Store. Avoid apps from unknown sources or links in unsolicited messages.
4. Enable Two-Factor Authentication (2FA): Set up 2FA for extra security. This requires both a password and a one-time password (OTP) or biometric verification for transactions.
5. Set Transaction Limits: Set limits for your UPI transactions to reduce the risk in case of unauthorized use. Adjust the limits based on your needs.
6. Secure Your Device: Keep your phone and UPI apps updated with the latest security patches. Use strong passwords or biometric authentication to lock your device and apps.
7. Protect Personal Information: Never share OTPs, UPI PINs, UPI IDs, or bank details with anyone, even if they claim to be from your bank.
8. Verify QR Codes: Before scanning QR codes, make sure they are from a trusted merchant and haven’t been altered or tampered with.
9. Monitor Transactions: Check your bank statements and transaction history regularly for any suspicious activity. Report anything unusual right away.
10. Report Suspicious Activity: If you suspect UPI fraud or notice anything suspicious, report it to your bank or the authorities immediately. Quick action can stop further fraud and protect others.
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UPI Fraud Awareness AV
If you experience fraudulent activity, follow these steps:
Inform Your Bank and Payment Company: Immediately report the UPI fraud to your bank and the payment company you used.
File an FIR with Local Police: Go to the local police station and file a First Information Report (FIR) with all the details of the fraud.
Complain to NPCI: Submit a formal complaint to the National Payments Corporation of India (NPCI), explaining the entire incident.
Contact the Digital Payments Ombudsman: Write to the Digital Payments Ombudsman, giving them a complete account of the fraud.
Use RBI’s Redressal Scheme: Take advantage of the Reserve Bank of India (RBI) redressal scheme, where the Ombudsman can help resolve issues related to digital transactions.
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