The UPI Revolution and Its Dark Side

The Unified Payments Interface (UPI) has transformed how India transacts, clocking over 12 billion transactions a month. It's fast, convenient, and ubiquitous. However, this rapid adoption has also attracted fraudsters who are constantly devising new ways to trick users into revealing sensitive information. Understanding their methods is the first step to protecting yourself.

Common Types of Digital Payment Frauds

• Phishing Scams: You receive an SMS, email, or WhatsApp message with a link that looks like it's from your bank or a known company. Clicking it leads to a fake website that asks for your login details, PIN, or OTP.
• QR Code Scams: A fraudster sends you a QR code on WhatsApp and tells you to scan it to "receive" money. In reality, scanning a QR code is ONLY for sending money. When you scan it and enter your PIN, money is debited from your account.
• Fake Customer Care Numbers: When you search for a company's customer care number on Google, you might find a fake number planted by a scammer. When you call, they will pretend to be a support executive and ask you to download a screen-sharing app or share your OTP to "resolve" your issue.
• Remote Access Apps (Screen Sharing): Scammers may ask you to install apps like AnyDesk or TeamViewer. These apps allow them to see your screen in real-time. When you log in to your banking app, they can see your username, password, and the OTP you receive.
• SIM Swap Fraud: Fraudsters get a duplicate SIM card for your phone number. They then get access to your OTPs and can authorize transactions from your bank account.

10 Essential Tips to Stay Safe

1. NEVER Share Your PIN or OTP: This is the golden rule. Your UPI PIN, ATM PIN, or any OTP is for your eyes only. No bank employee, customer care executive, or RBI official will ever ask for it.
2. Remember: You Don't Need a PIN to Receive Money: You only need to enter your UPI PIN when you are SENDING money. If someone asks you to enter your PIN to receive a payment, it is a scam.
3. Be Skeptical of Unsolicited Links and Calls: Do not click on random links in SMS or emails. If you need to contact customer support, find the number on the official website or app, not from a Google search.
4. Use Official Apps Only: Download UPI and banking apps only from the official Google Play Store or Apple App Store.
5. Enable Transaction Alerts: Ensure that you have SMS and email alerts enabled for every transaction in your bank account. Review them regularly.
6. Set Transaction Limits: Use your banking app to set a daily transaction limit on your UPI and card payments. This can limit your losses in case of fraud.
7. Use a Secure Wi-Fi Network: Avoid doing financial transactions on public or unsecured Wi-Fi networks.
8. Lock Your Apps: Use a PIN, password, or biometric lock for all your payment and banking apps.
9. Be Aware of SIM Deactivation: If your phone suddenly loses network signal for an extended period, contact your mobile operator immediately to check for a potential SIM swap attempt.
10. Report Fraud Immediately: If you get scammed, don't delay. Call the National Cyber Crime Helpline at 1930 and file a complaint at cybercrime.gov.in. The sooner you report, the higher the chances of recovering your money.

Digital payments are safe and convenient, but they require you to be alert and informed. Stay vigilant, and enjoy the benefits of a digital India securely.