How To Avoid UPI Fraud? PhonePe Shares 3 Checks Every User Must Follow

UPI has made digital payments quick and convenient. But scammers are finding new ways to exploit users, from fake payment requests to impersonation and remote access scams.

In an exclusive communication with NDTV, PhonePe shared three basic checks for users to protect their money:- 

1. Never Enter Your UPI PIN To Receive Money

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A UPI PIN is required to authorise payments from your bank account, not to receive money. Fraudsters may send fake payment requests or QR codes, claiming they will transfer money or issue a refund. If a transaction asks for your UPI PIN, check it carefully. Entering the PIN can authorise a debit from your account.

2. Verify The Recipient's Name Before Paying

Before completing a UPI transaction, check the registered bank account name displayed on the payment screen. Scammers may use fake profiles or misleading UPI IDs to impersonate friends, family members or businesses. If the name does not match the intended recipient, stop the transaction and verify the details independently. Be wary of strangers offering to transfer money digitally in exchange for cash. Such offers could be part of a fraud.

3. Never Share OTPs Or Click Unknown Links

Fraudsters often pose as bank officials, telecom representatives or customer support agents to trick users into sharing sensitive information. Never disclose your OTP, UPI PIN or banking details over calls, messages or emails. Do not click suspicious links or install screen-sharing apps at the request of unknown callers. Such apps can give scammers access to your phone and expose sensitive information. PhonePe has also warned users against money mule scams. In these cases, people are tricked into receiving and transferring money linked to illegal activities. Even unknowingly handling suspicious funds can lead to frozen bank accounts and legal complications.

What To Do If You Fall Victim To UPI Fraud

Act quickly if you suspect that your account has been compromised or money has been stolen. PhonePe users can raise a complaint through the Help section of the app or contact customer care at 080-68727374 or 022-68727374.

For further action, report the incident to the national cybercrime helpline at 1930 or file a complaint at the National Cyber Crime Reporting Portal. Suspicious calls, messages and fraudulent WhatsApp or Telegram activity can also be reported through the Chakshu facility on the Sanchar Saathi portal.

The key is to verify every payment request, protect your authentication details and report suspected fraud without delay.