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UPI Fraud Prevention:In today’s digital era, UPI (Unified Payments Interface) has become the easiest and fastest way for our everyday transactions. But as its use has increased, cases of UPI fraud are also increasing rapidly.

People send money in just one click, and cyber fraudsters are taking advantage of this carelessness. RBI has now taken strict action on such matters and has issued new guidelines so that common users can remain safe from UPI fraud. These UPI fraud prevention tips can save your hard-earned money.

RBI gave 5 such rules by which you will not become victim of UPI scam.

To make the banking system more reliable, RBI has given 5 such rules, by adopting which you will not become a victim of any kind of UPI fraud. These rules mainly include suggestions like avoiding fake apps, using verified QR codes, reading payment requests carefully and reporting immediately. Let us know these 5 easy rules to avoid UPI fraud and new guidelines of RBI which can save your hard-earned money.

1. Never click or scan unknown links or QR codes

Nowadays, most of the UPI frauds are happening through phishing links and fake QR codes. Fraudsters send you a link or share a QR code in the name of giving you a “refund” or “cashback”. As soon as you click on that link or scan the QR code, your bank account information goes to the hackers.

RBI has clearly said that no legitimate company, bank or app ever asks to scan QR code to send money. If you want to get paid, you don’t need to scan or click anything. This is the first and most important step of UPI fraud prevention tips.

2. Do not share UPI PIN or OTP with anyone

The second easiest way of UPI fraud is to extract PIN or OTP. Fraudsters call themselves posing as bank officials, Paytm/PhonePe customer care or government agents and say that they want to verify your account, give OTP. According to the new guidelines of RBI, no bank or app ever asks for OTP, PIN or password.

UPI PIN is used only while sending money and not for receiving money. Therefore, if someone asks you to enter the PIN so that the money comes, then understand that the person in front is committing UPI fraud.

3. Use only official UPI app and website

RBI has warned users that many fake UPI apps are active on Play Store and websites, which look like genuine apps. Such apps can steal your login details and bank data. Check the developer name before installing the app. Download the app only from the official website or Play Store.

Read carefully the permissions the app asks for while installing. If any app is giving you “Instant Cashback” or “Double Money Offer”, then it is 100% UPI fraud. Follow these rules in UPI Fraud Prevention Tips.

4. Double check the receiver name and number before transaction

Many times fraudsters deliberately keep names that sound like a brand or a friend. As soon as you enter their UPI ID and send money, they immediately disappear from the account. Name confirmation appears in Paytm, GPay or PhonePe. If you see a strange name, cancel the transaction immediately. This small precaution can protect you from UPI fraud.

5. Report fraud immediately, do not delay

If UPI fraud ever happens to you, do not panic, take immediate action. According to RBI guidelines, now banks will have to take reports of such cases within 24 hours. Call your bank customer care number immediately, also call 1930 (National Cyber ​​Helpline) orhttps://cybercrime.gov.inRegister a complaint on the website. This last step of UPI fraud prevention tips is the most powerful.

Why is RBI’s new guideline necessary?

According to RBI, UPI fraud cases have increased by 25% in 2024. With the success of Digital India, cyber crime has also increased. For this reason, RBI has given strict guidelines to banks and payment service providers to send security alerts to every user and stop suspicious transactions immediately.

Under the new guidelines, banks are now using AI-based fraud detection systems, through which any unusual transaction is detected immediately. Keep yourself safe by following UPI fraud prevention tips.