Tips on how to Keep away from On-line Fee Fraud Whereas Utilizing UPI Apps, E-Wallets


Avoiding on-line fee fraud whereas utilizing UPI apps or e-wallets is turning into more and more tough with the rising quantity of on-line transaction in India. Complete variety of transactions made by the Unified Funds Interface (UPI) in February 2021 was 2.29 billion, based on knowledge supplied by the Nationwide Funds Company of India (NPCI). And as extra folks make funds utilizing UPI apps and e-wallets within the nation, the incidences of on-line fraud develop. Scammers proceed to seek out new methods to steal the hard-earned cash of people. Many such victims have posted about their ordeals on social media.

The listing of victims of on-line fee fraud not solely contains the individuals who reside in rural areas and are new to the world of digital funds, but additionally many individuals dwelling in city areas and utilizing UPI apps and e-wallets continuously. In a current case, Delhi Chief Minister Arvind Kejriwal’s daughter Harshita Kejriwal was additionally allegedly duped of Rs. 34,000 whereas making an attempt to promote a settee on-line. A person posing as a purchaser contacted Kejriwal and instructed her that he would ship a small quantity to verify her checking account. He initially despatched her Rs. 2 and requested her for affirmation, based on media reviews. However after that, he reportedly despatched her a QR code that enabled him to withdraw funds from her financial institution.

It is a widespread approach of fraudsters trick people by sending them a fee request on their UPI app. That request permits them to simply switch the cash. However together with sending fee requests, criminals use social engineering to dupe folks.

“Social engineering could be present in varied varieties, and we use varied names to it reminiscent of phishing and smishing,” Vikram Jeet Singh, Director, Threat Consulting – IT Advisory, KPMG, instructed Devices 360 in an earlier interview.

As soon as the fee request is accepted, the UPI app asks for the PIN, which is the final step to finish the transaction. Which means that you will lose the cash the second you enter your UPI PIN, which you should not.

“In the case of a client, it boils right down to widespread sense,” stated Ram Movva, President and Co-Founding father of Tamil Nadu-based cybersecurity companies agency Cyber Safety Works.

A lot of the main business banks run varied on-line and offline campaigns to tell their prospects about frauds going down by UPI apps and e-wallets. The NPCI additionally educates people by its social media channels. Nevertheless, some specialists consider that frauds may very well be minimised by bringing stringent insurance policies and guidelines.


“With no knowledge requirements… outlined by the federal government — and neither by the Reserve Financial institution of India nor by CERT-In — folks have been left except for the safety level,” stated Sateesh Kumar Peddoju, Affiliate Professor, Indian Institute of Technology – Roorkee.

The expansion in on-line fee frauds have made it fairly tough for companies to guard prospects as cybercriminals proceed to construct new methods and mechanisms to focus on harmless folks.

“Increasingly more of us have turn out to be accustomed to doing increasingly transactions on-line, particularly because the COVID-19 pandemic hit final 12 months, and it’s straightforward to overlook that there are folks on the market who will do something to acquire cash or private data by deception,” knowledge safety agency Sophos stated in a press release.

Having stated that, you may take sure steps to remain protected from on-line frauds whereas making funds by a UPI app or e-wallet.

Keep away from participating with strangers

One of many first steps that may make it easier to keep protected in opposition to on-line frauds is to keep away from participating with strangers by any medium. It is vital that you’re not speaking with unknown folks over a telephone name or message — except it is one thing very pressing and unavoidable. Banks additionally inform their prospects to not disclose private or transactional particulars reminiscent of UPI PIN or OTP even to folks claiming to be banking officers contacting them by way of e mail or telephone.

“There are thousands and thousands of faux emails which can be being despatched on a regular basis by hackers,” stated Karmesh Gupta, CEO of community safety agency WiJungle. “They often pose that they belong to an genuine organisation or platform to trick and ask you for the specified data. Earlier than performing upon any e mail, just be sure you totally examine and confirm the e-mail deal with.”

By not speaking with fraudsters, you may keep away from getting caught in social engineering tips that fraudsters typically use to steal cash from people.

In case it is advisable to interact with somebody you do not know, possibly for promoting a family merchandise (like in Harshita Kejriwal’s case), you ought to be very cautious of the communication you make and mustn’t ever share your financial institution particulars. It’s essential to additionally not share OTP or every other transactional data you get in your telephone whereas speaking to somebody you do not know personally.

“Fraudsters monitor social media accounts and may strategy the person beneath the guise of offering help,” stated Damon Madden, Principal Fraud Advisor— Fraud & Threat Administration, ACI Worldwide.

PhonePe had additionally noted in a weblog put up that fraudsters typically construct on their credentials by telling those who they work for the armed forces, police, or the federal government. However you ought to be conscious and never belief any particular person simply because they seem to signify a reputed organisation.

Gupta identified that in some instances, dangerous actors attempt to join with people by pretending to supply them heavy reductions, presents, and offers from on-line purchasing platforms. “This is likely one of the mostly used and trending methods of looting folks by on-line channels,” he stated.

It is best to, due to this fact, be utmost cautious whereas taking any actions on emails or messages claiming to provide you low cost presents and offers.

Don’t share OTP with anybody

One-time password (OTP) is what banks and monetary establishments ship to validate transactions in India. However sadly, OTPs have additionally turn out to be the entry-point for many frauds these days.

“Banks often do not ask for private data on SMS, so if you happen to obtain a textual content asking about your monetary data, it’s usually a purple flag,” stated Madden of ACI Worldwide.

Gupta of WiJungle stated that OTP frauds had been one of the crucial widespread on account of which lots of people misplaced entry to their essential data and even lakhs of rupees. “It’s often the lack of expertise that folks share their OTP (one-time-password) contemplating that it has come from the financial institution or any official authority. Thus, it is very important take care earlier than sharing the OTP to any unknown,” he stated.

It is best to by no means share the OTP you will get in your telephone with anybody over a name or message. It is usually essential to notice that you should not be coming into your banking particulars or login credentials to your checking account on a pc or system that’s a part of a shared community, as it might let somebody know your data from the backend.

Fraudsters typically ship doctored hyperlinks to acquire cash out of your account. UPI apps reminiscent of BHIM and Google Pay have additionally made it simpler for scammers to make fraudulent transactions by sending fee requests. Nevertheless, Movva of Cyber Safety Works stated that regardless of you must by no means click on on a hyperlink you obtain or proceed with a transaction request except you initiated it your self by way of a UPI app or your financial institution’s web site.

Google Pay shows a blocker warning display for top worth QR/ fee hyperlink transactions to warn customers about fraudulent funds and guarantee they approve transactions after due deliberation. However a number of folks nonetheless turn out to be victims, particularly when a fraudster tries to participate funds from their account as an alternative of getting the whole cash out in a single transaction.

Much like Google Pay, PhonePe additionally asks customers to not reply to any random fee requests. “At all times keep in mind you shouldn’t have to ‘Pay’ or enter your UPI PIN to obtain cash on PhonePe,” the corporate wrote in one other weblog put up that particulars the kind of on-line frauds that occur whereas utilizing UPI apps.

“Receiving cash requires no PIN,” Citibank additionally wrote in a detailed support page round UPI frauds.

Avoid counterfeit apps

Though Apple and Google strive onerous to take away duplicate and false apps from their app shops, you should still come throughout counterfeit UPI apps whereas downloading different apps. It’s, due to this fact, essential that you should not set up these in your telephone.

“Customers ought to confirm the identify, developer, registered web site and e mail deal with of an app earlier than putting in it on their cell phone,” stated ACI Worldwide’s Madden.

Alongside counterfeit UPI apps, you will discover a number of apps that seem like related along with your financial institution after they really aren’t. It’s, due to this fact, your accountability to put in solely authenticated and official banking apps in your gadgets.

Fraudsters lately attempt to join with people by pretend helpline accounts on social media. In some instances, fraudulent telephone numbers additionally seem on serps. Platforms like Google Pay and PhonePe, nonetheless, advocate customers to attach with their help staff immediately. You’ll be able to attain out to Google Pay by way of its toll-free quantity 18004190157 or by going by the Contact Us part within the app. PhonePe additionally has devoted buyer help on its web site. Equally, most business banks have their official helpline numbers and social media accounts that you must attain in case of a question or for reporting a fraud.


Consultants consider that it is very important let others know if you happen to’ve caught in a fraudulent exercise to assist them beware of comparable experiences. You must also hear concerning the incidents occurred with others to watch out at your finish.

“Report scams if you happen to can. It may not really feel as if you’re doing a lot to assist, but when many individuals present some proof, there’s a least an opportunity of doing one thing about it. Then again, if nobody says something, then nothing will or could be performed,” Sophos stated.

Does WhatsApp’s new privateness coverage spell the top on your privateness? We mentioned this on Orbital, our weekly know-how podcast, which you’ll be able to subscribe to by way of Apple Podcasts, Google Podcasts, or RSS, download the episode, or simply hit the play button beneath.

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