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Protect Bank Account From UPI Fraud: There’s no doubt Unified Payments Interface (UPI) transactions have made the banking transactions easier than ever before. But these UPI transactions too are being targeted by fraudsters and they are using several new ways to make people fool and steal their money. If you are using UPI transactions then you must be well informed to protect your bank account from UPI frauds.
Here are the 11 ways to protect bank account from UPI frauds
1. UPI PIN
No matter what, if anyone is asking you to put your UPI Pin to receive money then never ever do so. Never Enter your UPI Pin or never ever share your UPI pin with anyone. Your UPI pin is your secret key for your bank account. If you share your UPI pin with anyone it means you are giving full access to your bank account to them and that malicious person can steal money from your bank account. Therefore remember the golden rule of UPI transactions that if someone wants to give you money then they will ask you to share your UPI ID. They will not ask for your UPI PIN at any cost. So be alert and informed and never ever share your UPI pin with anyone.
2. UPI Shield
Whenever you will make UPI transactions then always look for the UPI Safety Shield in the payment browser. If the UPI safety shield is missing then never attempt any UPI transactions.
3. Understand What Will Happen When You Will Enter UPI Pin
Always remember that whenever you will enter UPI pin it means you are allowing your bank account to deduct money. So whenever you enter UPI pin money will be deducted from your bank account. So never ever enter a UPI pin if anyone asks you to do so.
4. Unknown Link
Be alert about any unknown urls link, unknown IDs and unknown calls promising you or offering you cashback, refund, or scaring you to pay any charges for any reasons. And never ever click on any luring unknown advertisements link. Such activity might be an attempt to steal your money. So simply ignore those things and never click and never respond to them.
5. Remember UPI PIN
Whenever you want to make transactions with UPI payment then always use the UPI pin only on the recognized secure app’s UPI pin page. Do not write down your UPI pin anywhere, just remember that and never ever share it with anyone.
6. QR Code
For any reason if anyone asks you to scan a QR code to receive money or they promise you to give money then never ever scan the QR code. Because in the UPI payment method you need to scan a QR code when you want to give money to someone. You never ever need to scan a UPI QR code to receive money.
7. Mobile or Computer Screen Sharing and SMS Forwarding
In some cases some smart fraudster may paranoid you and can ask you to download any screen sharing app or forward any SMS or can ask you to download a free SMS forward app, then never ever do so. Because if any unknown person is asking you to download any screen sharing app or asking you to forward a SMS or asking you to fill a form for any kind then do not do so. This might be harmful to you and you might be a victim of UPI fraud. Never download any screen sharing apps or forward sms or fill any kind of form on request of any unknown person and without understanding its intent.
8. Unknown Identity and False Representation
Never give access to your mobile phone to anyone online and never share your computer screen with anyone. Even if a person claims to be your bank’s customer care executive or manager or they pretend to be any government officials such as an income tax officer or a lawyer or just anyone. Never share your mobile screen and computer with any unknown person.
9. Verify Recipient’s Name
Now UPI payment apps have a feature to verify the receiver’s name. So before entering the UPI pin always pay attention to the receiver’s name. Carefully give attention to the receiver’s name and verify it with your intended recipient names then only enter the UPI pin. Because once you enter the UPI pin and that receiver’s name is different from your intended recipient’s name then there is no way to recover your money back. So always be careful about it.
10. Do Not Write and Keep UPI Pin in Your Pocket Wallet
Do not write your UPI pin and do not keep it in your pocket wallet.
11. Do Not Save UPI PIN in Email, Google Doc Files, and Cloud Storage
Do not save your UPI pin in your email, in your google doc file, and do not save it in your cloud storage too. If you become a victim of UPI payment frauds then immediately report it with your bank by calling on your bank’s customer care number. And also raise an immediate dispute with the UPI payment app which you have used for transaction.
Protect Bank Account From UPI Fraud FAQs
How to get money back from UPI frauds?
Any person can raise a complaint with their bank and UPI payment apps for any UPI frauds, but chances to get money back from UPI frauds are very low. Because in most cases knowingly or unknowingly if a person has shared their UPI pin with anyone or has entered their UPI pin for any transactions it means they have given consent to deduct money from their bank account and this minimizes their chances to get their money back from UPI frauds.
How do I find scammer details from just an upi transaction ID?
In the UPI transactions you only know the receivers name and their upi transaction ID so you won’t be able to know the further details of the scammer by these two things. To know more you need to file an official complaint with your nearest cyber crime branch or cyber crime portal. They will do the needful to carry the investigations further.
Can I share my UPI ID with anyone?
Yes, it is safe to share UPI ID with anyone but it is recommended that you never share your UPI ID with any unknown person without knowing their intent.
Conclusion
UPI payment uses are growing each and every day and more and more people are becoming accustomed to its uses for small to big transactions. Ease of use is USP of UPI payments. It is a highly secure and easy way to make payments. However it is the responsibility of the UPI users to keep their bank account and UPI transaction PIN safe, secure and secret.
Therefore never ever share your OTP, your UPI PIN, URN, CVV pin, or your bank details and passwords with anyone. Even if anyone pretends to be your bank executive, bank manager, bank employee or even they claim to belong to any government officer, lawyer or just anyone. Just remember one simple fact that you must not share these with any unknown person. Whether on any phone calls, one SMS, on WhatsApp chat, in Email, by document sharing, screen sharing, or by any medium.
Never ever share these and obey the banking safety measures to protect your bank account from UPI fraud or by any banking frauds.
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