DO YOU KNOW YOUR UPI MONEY IS IN DANGER?

Yes! your UPI money is in danger. Nowadays fraudsters are using different types of techniques to steal money from the bank account of people.

According to a Times of India report, UPI has hit a landmark of one billion transactions in October 2019, UPI has recently crossed 100 million users.

Here are some of the ways fraudsters steal the money from the bank which is completely unethical,



1. Fraudsters forward text messages to common people and ask them for their debit card details or share their one-time password(OTP) over phone calls. They use those data to create a new virtual payment address(VPA) ID for your account and set MPIN to do the transactions.

UPI PIN should never be shared.

2. They ask people to download an APP and share 9-digit code which gets them access to your phone and it is capable of acquiring full access to your smartphone. After that, it becomes easy for them to steal money from the bank.

Beware of third party Apps.

3.  UPI has a feature wherein an individual or a merchant can send the user a request to collect money. The user needs to authorize the transaction using a security PIN. This PIN is like an ATM PIN and not a uniquely generated one-time password. When the fraudster was asking for UPI ID, he actually nudging the victim to input PIN, which makes the transaction go through.
This is the most common variation of misuse of the "request money" feature in UPI at present.

Stay safe from "Request money" fraud.

4. Fraudsters call people and tell them that they are representative and they have exclusive cashback offers, so they ask them to enter PIN through collection request and the money gets debited from the victim's account.

Fraud calls.

These are the different types of fraud that take place and in this blog, I'm not only informing you about the unethical frauds but also I'm going to tell you about what you should do and what you shouldn't do and how you can be safe from fraudsters so that your valuable money can be safe from fraudsters.


let's understand what are the things that you should do,

• You have to read all the transactions closely.
• You have to know the difference between SMSes, pop-ups, and descriptions closely.
• You have to be skeptical of someone calling you and offering freebies like cashbacks.

What are the things you shouldn't do,

• Never share PINs and OTPs.
• Never share identifiable information on public forums that can be misused.
• Don't click on random links offering freebies or asking for verification.
• Don't enter a PIN to receive money on any platform.

I hope this information has provided you some value. Some people are smart and they save themselves from such frauds but there are some people who really need to know these things so that next time whenever they face any situation, the learnings from this blog will definitely going to help them.

Let me know in the comment section if have ever seen any such fraudulent activity happened with someone and what are your precautions to save yourself from such frauds.

Thank you,

Nitish Toppo