How to protect yourself from becoming victim of UPI frauds

Nowadays, a fascinating variety of “online theft” has appeared in the online world. The theft is regarding UPI because it is a way to trick innocent victims and steal their money.

As you know, digital payment applications such as “Paytm and Google Pay” are reaching a vast number of people, from teenagers to aged people, every day and reducing their problems in the field of “online payment.”

Though these payment applications make it easier for many people, they have also opened paths for “frauds and scammers.” The latest events of “cyber thefts” using the UPI applications are a proper signal of these facts.

As we all know, this is a day-to-day service helping banks send calls and SMS, mentioning that they should not disclose their account details and “OTPs” to strangers.

So, you should know how “UPI fraud” works –

1. So, you’ll see that the scam starts with listing products on well-known sites such as “OLX and Quikr” or a few scammers answering it, who will pretend to be potential buyers of the product. This is straight away supported by the excuse of “unavailability of the option to pay through cash” in place of that, it will indeed suggest payment through apps like “Google Pay” or “PhonePe” for making the payment.
2. You will think this is a truthful explanation; you will allow the payment through “PhonePe.” By doing so, your faith in that person will become stronger as you’ll see the image of a military man (which is not real).
3. Once the “scammer” gets confident, you will get a call request to collect the required amount for the listed product. You will be in a rush to get your money, so you will overlook what the “scammer” is requesting. After you come across the request, the scammer will ask you to put your pin for the UPI and tap the “Pay button." Your money is gone.

Experts believe that these types of scams happen due to a lack of knowledge and ignorance that users have about the digital “payment method.” Usually, such occurs mainly with the “old people” or “first-time users.”

How to be aware of such frauds and scams?

• First, check every message or notification you receive on your particular payment app (apps) while you do the transaction.
• At any cost, DON’T trust the stranger or user just because they look legit or their “profile picture” looks real.
• Check twice or thrice before clicking the “Pay Button.”

Conclusion

?The?K7 Antivirus?comes with a safe attribute that is specially made to save and protect valuable financial information while you are using the mobile payments applications for “shopping online,” “paying bills,” “banking,” etc. This software is widely considered to be one of the best in keeping you safe from such UPI frauds and scams.