How to Secure Your Account from UPI Frauds

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Because UPI is now an alternative for online payments, our daily transactions have become simpler.

Due to the Unified Payment Interface’s (UPI) rising popularity, many customers have switched to utilizing it for regular purchases. UPI fraud instances have increased as a result in India.

Understanding UPI and how fraudsters take use of this platform to defraud people is significant since it is imperative to be aware of these online scams.

As a result, this blog post will cover how to protect your account against UPI fraud.

A payment mechanism called UPI was introduced in India in 2016. It enables users to send payments instantly and around the clock to anybody whose bank account supports UPI.

The Instant Payment Service (IMPS) platform serves as the foundation for UPI, which is governed by the Reserve Bank of India. Payments are sent and received using the UPI address linked to each bank account.

UPI payments are becoming more and more popular due to a variety of factors, including quick transactions and money transfers compared to traditional payment methods.

On the one side, UPI has made our lives very simple, but on the other, it is becoming more and more susceptible to fraud situations.

There are several methods to perpetrate UPI fraud, including cloning, online theft, phishing, and even impersonating real vendors.

We can learn how to protect ourselves against UPI scams by reading this blog.

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5 Steps to Protect Yourself from UPI Fraud

With the introduction of UPI addresses, the cashless method of transaction has recently gained a lot of popularity.

People may swiftly transfer their cash within minutes with the use of UPI, avoiding the trouble of going to the bank.

Yet, this paperless UPI payment period in the digital age has also drawn a lot of con artists, which has led to an increase in UPI fraud reports across the nation.

The following list of five crucial security precautions can help you stay safe from UPI fraud.

  • Never Share Your UPI PIN or OTP

Sharing your UPI PIN and OTP with any customer service person who claims to be from a bank or government agency is a serious error to avoid.

Never forget that a bank or other government agency will never request your UPI password, OTP, or PIN. Therefore be sure the caller is a scammer if you ever receive a call asking for your UPI data.

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  • Never Give Access to Your Phone or Computer

Another frequent method used by scammers to trick individuals into giving them access to their computers and phones for KYC reasons is to demand it.

Ensure you never provide a customer service person access to such information and avoid being a victim of such fraud.

  • Don’t Open Any Random Links

Messages urging you to claim awards or money may be sent to you often. Never conduct business using such arbitrary links or websites.

It is a technique used by scammers to obtain your UPI PIN and promptly take money from your bank account. Always verify the UPI link and the account holder’s name prior to making any payment.

  • Regularly Changing Your UPI PIN

Regularly updating your UPI PIN is crucial in safeguarding your UPI account. You may do this every quarter to safeguard yourself against UPI scams.

  • Be Careful About Payment Requests

If you ever get a money request from someone you don’t know, make careful not to accept it. If the person appears dubious, you can deny the money request right away.

Also, a lot of con artists send you a QR code to trick you into requesting payment. Never forget that receiving a payment does not need you to click on the payment option or enter a UPI PIN.

Instead, the funds will be immediately taken out of your account and put into your account whenever you enter your UPI PIN.

Basic Do’s and Don’ts To Avoid UPI Fraud Cases

The following are some fundamental dos and don’ts to follow to prevent falling victim to UPI scams in India:

Set a UPI payment limit for daily transactionOpen no links or emails coming from unknown sources.
Keep track of your transaction historyRefuse to accept any payment that requests your UPI PIN or OTP.
If you notice any fraud, get in touch with your bank right away.Do not accept any payment link if requested from an unknown account
Always connect your phone/laptop to secure wifi connectionsNever divulge your UPI PIN during any step involving KYC.


Hence, keep these safety precautions in mind if you see or hear anything strange related to your UPI account. A solid grasp of UPI will also enable you to learn more about account security.

Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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