A Quick Peek into the Terrifying World of UPI Frauds
A Quick Peek into the Terrifying World of UPI Frauds UPI frauds have grown exponentially in recent years. Take a look at how UPI fraud happens and the different varieties of UPI fraud. While the world moving online has led to great strides in improving our quality of life and making payments easier, it has also opened up new avenues for cyber fraud such as UPI scams. Although online payment systems have made cashless transactions very easy, they have also made us vulnerable and created new opportunities for online fraudsters. Today, all you need to send and receive money is a UPI ID and a pin. Sadly, UPI frauds are a common occurrence these days. According to the Ministry of Home Affairs data, there was a 15.3% rise in cyber fraud complaints between the first and second quarters of 2022. However, if we educate ourselves and remain vigilant, we can greatly reduce the risk of falling prey to UPI fraud. What is UPI and How Does it Work? UPI (Unified Payments Interface) is an instant payment system that has been developed by the National Payments Corporation of India (NPCI). It facilitates inter-bank peer-to-peer and person-to-merchant transactions. Users can make simple bank transactions with the help of a mobile platform using a UPI pin. UPI makes it very easy and quick to conduct mobile transactions with just one click by making use of a certified digital payment app like GooglePay or Paytm. Now, what is a UPI fraud? Well, any type of threat or malicious act that involves using UPI and fooling a victim into paying money or making a transaction is called a UPI fraud. How do Hackers Execute UPI Frauds? Hackers generally tend to follow a set pattern when it comes to phoney transactions and UPI fraud. Some of the steps are as follows: Common Types of UPI Frauds Let us now take a look at the different ways in which UPI scams and UPI frauds take place: Tips to Prevent UPI Fraud Here are some basic Dos and Don’ts that you can use to help yourself avoid UPI scams: Reach out to us today & let’s talk about how we can help you! Website: https://secureu.in | E-mail: contact-us@secureu.in | Contact us: Instagram, Twitter Youtube & LinkedIn
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A Quick Peek into the Terrifying World of UPI Frauds UPI frauds have grown exponentially in recent years. Take a look at how UPI fraud happens and the different varieties of UPI fraud. While the world moving online has led to great strides in improving our quality of life and making payments easier, it has also opened up new avenues for cyber fraud such as UPI scams. Although online payment systems have made cashless transactions very easy, they have also made us vulnerable and created new opportunities for online fraudsters. Today, all you need to send and receive money is a UPI ID and a pin. Sadly, UPI frauds are a common occurrence these days. According to the Ministry of Home Affairs data, there was a 15.3% rise in cyber fraud complaints between the first and second quarters of 2022. However, if we educate ourselves and remain vigilant, we can greatly reduce the risk of falling prey to UPI fraud. What is UPI and How Does it Work? UPI (Unified Payments Interface) is an instant payment system that has been developed by the National Payments Corporation of India (NPCI). It facilitates inter-bank peer-to-peer and person-to-merchant transactions. Users can make simple bank transactions with the help of a mobile platform using a UPI pin. UPI makes it very easy and quick to conduct mobile transactions with just one click by making use of a certified digital payment app like GooglePay or Paytm. Now, what is a UPI fraud? Well, any type of threat or malicious act that involves using UPI and fooling a victim into paying money or making a transaction is called a UPI fraud. How do Hackers Execute UPI Frauds? Hackers generally tend to follow a set pattern when it comes to phoney transactions and UPI fraud. Some of the steps are as follows: Common Types of UPI Frauds Let us now take a look at the different ways in which UPI scams and UPI frauds take place: Tips to Prevent UPI Fraud Here are some basic Dos and Don’ts that you can use to help yourself avoid UPI scams: Reach out to us today & let’s talk about how we can help you! Website: https://secureu.in | E-mail: contact-us@secureu.in | Contact us: Instagram, Twitter Youtube & LinkedIn