Be Safe – this is how fraudsters may dupe you !!!

Fraud Trends against which users should be vigilant

Digital payments offer several advantages to common users such as convenience, speed, and security. With digital payments, people can easily make transactions from the comfort of their homes or while on the go. Digital payments also eliminate the need for carrying cash and the risk of loss or theft. Additionally, digital payments can help to promote financial inclusion by providing access to banking services for people who may not have had access to traditional banking services.

In the fast-growing digital world, fraudsters use social engineering techniques to victimize gullible users. While a considerable amount of awareness is being created to safeguard users, those falling prey are mostly on account of greed, fear or ignorance.

Mentioned below are some of the key points that users should be mindful while carrying out digital payments.

Fake Cashback Links:

Sometimes, users may receive links or QR codes from unknown individuals, who promise rewards in exchange for entering their UPI PIN. However, it's important to remember that scanning a QR code and entering a UPI PIN is only meant for making payments, not receiving them. So, it's crucial to be careful and not fall for such schemes.

Fake Cashback Links
Do’s & Don’ts for users
Do's for customers
  • Updated Mobile number is registered in bank records
  • UPI pin is to be entered only for payments and not for receipts
  • Always checks for In-app notifications from UPI Apps while doing a transaction
  • Find contact details of bank from website only
  • In case of complaints, user should report it only to bank or police authorities
Don'ts for customers
  • Never forward any SMS on being asked by an unknown person posing as your bank or government official
  • Never share debit card credentials & UPI Pin with a third party
  • Remote access / Screen sharing apps can be used by fraudsters to gain access or view your screen so avoid using such Apps while doing financial transactions
  • Never post transactional details about your grievances on social media
  • Avoid carrying out transactions while speaking with a third party on call