How to Stay Safe from UPI Payments Fraud Cases | How to Beware from UPI Frauds | UPI Payments Fraud Report | UPI Fraud Complaint | How to Report Paytm, PhonePe, Google Pay, BHIM UPI, Freecharge etc online UPI Frauds | Can UPI Transaction be Reversed.
Digital makes the payments system online, even in recent days, UPI is one of the most popular day to day payment option for all. It’s easy, faster, and convenient. And most importantly it’s fully Free to use the UPI Payment system. With UPI you can transfer your money to some, pay for goods, services, buy anything online without any hassle.
But still, the technology causing frauds to some people, not all people due to their negligence or lack of experience. Almost 1 out of 100 UPI users are being cheated by hackers (data not to be accurate).
So on today, Infoetc will share 5 important tips to stay safe from UPI Frauds and also share with you, what should you do when you feel that you’re a victim of UPI fraud.
How to Stay Safe from UPI Frauds?
1. Use a Strong UPI PIN
It is being noticed that users are not using a secure pin for their UPI transactions. It a very bad habit to use a no-logic number for PIN or passwords like 123456, 987654, etc. These can easily be tricked by hackers.
- Always use a strong UPI for safe and secure UPI transactions.
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2. Use 2 Double PIN Feature in UPI Apps
Starting from Paytm, PhonePe, Freecharge, Google Pay, BHIM UPI, and almost all UPI Apps offer double pin security for their users. This works as, if you enter the first App PIN correctly then you will be able to log in, then if you enter the second which is UPI PIN correctly then you will be able to pay. So, this kind of a basic but unique security feature helps you to stay far from most of the fraud cases.
- Always use 2 Step Security setting in UPI Apps.
Users have to keep in mind that never share any of your sensitive payment information with anyone, like card number, CVV, OTPs, PIN, etc. And also keep in mind that Bank Never Asks you for this information in any way (Call/SMS/EMail). The majority of the Indian people are get tricked just for this reason.
- Never share any of your sensitive payment information with anyone, like Card Number, CVV, PIn, etc. Even Bank NEVER ask you for this information via Phone Call/SMS/Email.
4. UPI is Just to Pay not for Receiving Money
Always keep in mind that the UPI app is designed in this way that you will only need to enter the UPI PIN if you’re paying to someone. You will never need to enter UPI PIN to receive money from someone. So, if somebody will ask you to enter your UPI PIN for receiving money. then simply understand he/she is trying to do fraud with you.
- UPI PIN only useable when you’re paying money to someone. It is NEVER needed to use UPI PIN for receiving money from someone.
5. Immediately Report to Bank & Police if Frauded
If you feel anytime that you have been frauded by someone, then don’t waste your time, immediately Report to Bank & Police if about this fraud.
- Report immediately Bank & Police if you’re frauded by UPI transaction.
That’s all for today. Stay Safe and enjoy shameless experience of online payments via UPI.
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