Due to online payments, you may finish a purchase anytime, from any location, with just a few clicks. The UPI payment app is one of the most widely used payment systems and users enjoy it for its user-friendliness and performance. On the other hand, increased platform usage also raises the possibility of fraud. UPI frauds are on the rise due to the growth in digital transactions. You may protect yourself by being aware of the many forms of UPI payment fraud. Continue reading about how to stay safe when using the UPI payment app:
Avoid Unknown Payment Request
One of the scammer’s methods is sending users an arbitrary payment request. Do not respond to any pop-up or text message about an unknown payment request you receive from your UPI app. If you have doubts about the payment request, you may reject it through the UPI app.
Frequently Make a PIN update
Update your UPI pin frequently to protect yourself from fraudulent attempts. The banks suggest their clients periodically update UPI pins to protect themselves from fraud.
Keep a Check of Your Account Every Once in A While
Examine your account activity once every few months to see if there has been any unusual activity. Frequently, you overlook this and might overlook a few warning signs along the way. It is advisable to review your accounts once every few months thoroughly. Don’t hesitate to notify the bank if you spot any strange patterns or suspect UPI fraud.
Use the Reliable UPI App
Bank account users should only utilize trusted UPI application offered through the Apple app store or Google play store and exercise greater caution when choosing UPI apps from third parties.
Always Verify Details of The Recipient
Verify that the recipient’s information is correct before starting a UPI transaction. Confirming that the UPI handle or mobile number given is the rightful owner of the money being sent is essential.
Avoid Clicking on Doubtful Links in Emails or SMS Messages
Phony emails and SMS are the most popular ways to trick individuals into falling for fraud. These links could look real and tempt you with promises of winning the jackpot or landing a job abroad. Avoid clicking on any of these links, as they can take you to a phishing website and disable the security settings on your phone. If you get an unsolicited call, it is advised to end it.
Do Not Share Your UPI & PIN
Never give your UPI and PIN to customer service representatives over the phone or in emails that claim to be from a reputable bank, government agency, or other well-known business. They will never request your UPI PIN. These calls play on your anxiety about losing access to your account or even a critical app update. A caller is a fraudster if they ask for your PIN information. Always verify the legitimacy of the SMS or caller.
Wrapping It Up
The emergence of UPI application coincides with a greater danger of fraud and scams as the nation transforms the digital age and transitions to a cashless economy. However, you can protect yourself against becoming a victim of a UPI scam by being watchful and taking precautions. Always use caution while contacting unfamiliar numbers and stay away from scammers.