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UPI Scam: UPI makes digital payments easy in India but you need to be cautious of fraud! Here are some tips to stay safe: Never share your UPI PIN or OTP, Verify receiver details before making payments, Avoid suspicious QR codes, etc. By following these steps, you can enjoy safe UPI transactions.
UPI Scam: Online payment is growing rapidly in India. This is an easy way for people to transfer money. People especially use UPI. UPI (Unified Payments Interface) has revolutionized digital payments in India, but its convenience also attracts scammers.
In such a situation, if you want to keep your hard earned money safe, then here we have brought some important methods for you. Let’s know about them.
Never share your UPI PIN or OTP
- Your UPI PIN is just like your ATM PIN, never share it with anyone, not even the bank, customer service representatives or friends/family.
- Similarly, keep your one-time password (OTP) with the same level of confidentiality. Do not share it under any circumstances.
Verify before making payment
- Double check the receiver’s name and Virtual Payment Address (VPA) before confirming any transaction.
- Scammers often create accounts with names similar to legitimate businesses to deceive you. In such a situation, a little caution can prevent financial loss.
Check the QR code
- QR codes can be an easy way to initiate payments, but be careful. Don’t scan random QR codes, especially if you’re not sure who created them.
- This allows scammers to embed malicious links that lead to fake UPI interfaces, allowing them to steal your money when you enter your PIN.
Download the app from the App Store
- Cybercriminals sometimes create fake apps by mimicking well-known UPI platforms.
- Always download official apps directly from the Google Play Store or Apple App Store.
- Before installing any app, read reviews and check developer information.
Create a strong UPI PIN
- To keep your account secure, set a complex and unique UPI PIN that is difficult to guess.
- Most UPI apps allow setting up transaction alerts. Enabling these alerts will notify you immediately of any activity on your account, allowing you to react quickly if you spot anything suspicious.
- By keeping these things in mind and staying alert, you can greatly reduce your risk of becoming a victim of a UPI scam.
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