Delhi, January 14, 2025 : As quickly as India is going digital, cyber fraud cases are also rising across the country. By the time people become aware of one type of fraud, a new method emerges. Recently, cases of fraud using UPI are rapidly increasing. If you also make transactions through UPI, you need to be very cautious. A large portion of India uses UPI for online transactions, with billions of transactions happening every day, involving hundreds of crores of rupees.
SBI issues warning…
The country’s largest public sector bank, State Bank of India, has issued a warning to its customers via a text message, urging them to stay alert. The message reads, “Dear SBI customer, beware of requests for instant money reversal after a sudden deposit. Do not approve UPI requests without collecting them.”
How is fraud happening in the name of UPI?
Many fake UPI apps are now available on app stores, which look identical to real UPI apps. Cyber criminals use these fraudulent apps to make transactions on your number and take a screenshot of it. They then send a fake message to your number, pretending to be from your bank, claiming that money has been received in your account via UPI. These criminals will then call you, refer to the screenshot and message, and claim that they mistakenly transferred money to your number through UPI. They will ask you to provide your UPI number and request you to return the money as quickly as possible.
All UPI users need to be cautious…
If this happens to you, stay alert. Never rush into taking any action. First, check your linked bank account to see if money has actually been transferred. If there is no money in your account, immediately call the cyber crime helpline and file a complaint.
Summary: Fraudsters are using fake UPI apps to trick users into thinking money has been sent to their accounts. They send fake messages and ask for money to be returned. UPI users should verify transactions and report suspicious activity to the cyber crime helpline.