Online Payment Fraud: As digital transactions are increasing, fraud is also increasing at the same speed. Cyber thugs are adopting new tricks for fraud. Sometimes people are cheated by talking about update of bank account even about ATM or credit card. Sometimes KYC and sometimes cases of cheating in the name of winning lottery are also coming to the fore.
A very common case in all these fraud cases is the lottery. Thugs call that you have won a car or a lottery worth lakhs of rupees has come out. Innocent people get into their talk and spend hard earned money by collecting pie by hard work.
These thugs fool people in the name of winning the lottery and send a link to get the lottery money and ask them to enter the UPI PIN by clicking on it. As soon as a person enters the UPI PIN on this link, the details of his bank account go to the cyber thugs and they transfer all the amount from the account to their account.
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Keeping this type of fraud in mind, NPCI issues alerts from time to time. NPCI says that there is no need to enter UPI PIN to receive money. UPI PIN is used to transfer money from your account to someone else’s account or make any payment. It is clear that on using UPI PIN, money is deducted from the account, not money comes in the account.
UPI PIN is the key to mobile wallet
UPI PIN is in a way the key to your bank accounts entered in your mobile phone. If someone else gets this key, then he can vacate your account. Actually, for online transactions, the service of UPI has to be taken and for this a virtual payment address has to be created. It has to be linked with your bank account. The virtual payment address becomes your financial address. After this there is no need to remember your bank account number, bank name or IFSC code etc.
To use UPI, you need to download an app that supports UPI. This facility is available on many apps including Paytm, PhonePe, Google Pay, Amazon Pay, BHIM. To take advantage of this facility, your mobile number must be linked with the bank account.
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How to generate UPI PIN
After downloading the app with UPI facility, you have to select your bank. A verification will be done here. After verification, your virtual payment address is generated. Now with the help of you, you will be able to do UPI transactions easily.
UPI Payment System
UPI i.e. Unified Payment Interface has been developed by National Payment of India. With this you can send money to someone else’s bank account through mobile wallet. With this technology, you can do financial transactions from anywhere at any time.
how to avoid fraud
Do not share your UPI PIN with anyone.
Always pay with UPI only on trusted apps.
BHIM App is the most trusted digital payment app.
Do not click on any unknown link.
Do not use UPI PIN on unknown links.
Phishing scams are done through such links.
Change the UPI PIN from time to time.