In today’s digital era, UPI has seamlessly integrated into our daily routines, simplifying transactions from shopping to travel expenses. However, with the convenience of technology comes the risk of online fraud. To combat this, the Reserve Bank of India (RBI) has outlined crucial guidelines for ensuring user safety.
Firstly, users should exercise caution with unknown links and QR codes, as these are common tools for fraudsters to steal bank details. Legitimate banks or apps will never request you to scan a QR code or send money to receive a payment.
Additionally, sharing your UPI PIN or OTP is a major security risk. Fraudsters often impersonate bank officials to extract this information. It’s important to remember that these details are only required for sending money, not receiving it.
The RBI also advises using only official UPI apps, as many counterfeit versions exist that can compromise your bank information. Always download apps from verified sources and scrutinize app permissions.
Furthermore, double-check recipient details before transferring money. Fraudsters often use deceptive names to mislead users. Vigilance can prevent such errors.
In the unfortunate event of falling victim to UPI fraud, prompt action is essential. Report incidents to your bank within 24 hours and contact the National Cyber Helpline. Quick reporting can aid in recovering lost funds and preventing further damage.
