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UPI is a digital payment system that helps with instant transfers, integrated mobile ease, and broad reach.
There was a rise in the complaints related to UPI transactions and the losses that were incurred by it in the first six months of the financial year, 2024-25.
UPI scams tend to happen with simpler mind games, mobile technology and social engineering.
Most of the times scammers act as customer service representatives or officials from banks and tactically dupe the users into sharing sensitive details like UPI PINs or OTPs.
There are also scams where the scammers ask for money from the customers in the name of incorrect payment or a fake screenshot as 'evidence' of a refund.
Fake QR codes or payment request links are also sent to the customers where their money is deducted.
It is important to report any such incident immediately to the Cybercrime helpline numbers.
One should never give the UPI PINs or personal banking information over the phone to anyone and should not install unfamiliar apps.