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In today's time, while people are struggling to escape from the corona, cyber thugs are also constantly targeting people. These thugs are targeting people while doing digital transactions. Most of the frauds are coming up in transactions through a unified payment interface (UPI). In fact, through this facility, you can make cashless, real-time transactions. Your work will be comfortable with mobile. Several banks have issued advisories warning customers on their social media platforms to avoid such thugs. There are a variety of frauds on the UPI platform.

How fraudsters can trap you

Phishing Scams

Fraudsters can send you unauthorized payment links through SMS. These fake bank URLs will look like real URLs. If you click on that link in haste, it will ask you to visit the UPI payment app installed on your phone and ask you to select any app for auto-debit. Once you allow, the amount will be debited immediately from the UPI app.

Remote screen mirroring tool

Most people are working from home because of the corona. Many people are downloading remote screen mirroring tools that can connect your phone or laptop via Wifi for large displays like smartphones. However, not all digital payment apps on Google Play or the Apple App Store are authentic. Once you download an unverified application, it will take information from your phone and can have full control over the device. Moreover, fraudsters also forged as bank representatives.

Deceptive UPI handles

Only the UPI social media page (Twitter, Facebook, etc.) has the same name term as NPCI, BHIM, or any bank or government organization. It doesn't make it authentic. Many fraudsters let you create such handles to know the detail of your account through the fake UPI app.

Cheated using your OTP, UPI PIN

One thing to keep in mind is, when you transact through your chosen UPI app, you have to enter either a one-time password (OTP) or UPI PIN. For OTP authentication, your bank sends you an OTP through SMS to the mobile number registered with the bank. Your transaction is done after the OTP is verified.

How to avoid digital fraud

Government agencies, banks, and other financial institutions never ask for financial information through SMS. In the case of UPI fraud, inform the bank or e-wallet firm, and block the wallet to prevent further losses. You can also report this incident to the police or cybercrime cell. You should only download apps that are authentic and verified by the Google Play Store or the Apple Store. Never ignore spam warnings you receive on your phone through the digital payments app.

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