Online payment techniques may have simplified cashless transactions, giving online scammers more possibilities to make money. Due to the increase in UPI payments, Unified Payment Interface (UPI) frauds are becoming more common. However, if we make payments with caution we can protect our hard-earned money from the various scammers.
Five Methods For Keeping Your Money Safe
Never give out your UPI PIN
Never give out your PIN to a call center representative or messager who appears to be from a bank, a government agency, or another well-known company. They will never ask for your UPI PIN.
Avoid Going To Unfamiliar Websites
Do not perform transactions on any random website that asks you to do test transactions in exchange for rewards, rebates, or money. Making Re 1 transactions will result in them giving you Rs 2 when you enter your UPI-PIN. Once they have your PIN, fraudsters can swiftly remove funds from your account. Before commencing any transactions, check the name to ensure that the UPI is always connected with the proper account holder.
Be Wary Of Fake Applications
Many fraudulent or hazardous apps attempt to trick you by misleading you as something else. The program will look identical to the existing bank app and will be simple to download. If you mistakenly download and install the fraudulent program, your personal information will be shared with criminals, giving them access to your account and allowing them to steal money. Be aware of some of the fraud banking apps such as Modi Bhim, BHIM Payment-UPI Guide, Bhim Modi App, and BHIM Banking Guide, which have been accused of stealing customer personal information under the pretense of providing a valuable service.
Change Your UPI Pin On A Regular Basis
To keep your account safe, change your UPI pin every month. If you don’t, you should reset it every three months.
Add UPI Payment Limit
One can set a UPI payment restriction on daily transactions using UPI payments.