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Unified Payments Interface (UPI) has revolutionised digital transactions in India. It offers speed, safety, convenience and accessibility. However, its easy operability also poses a risk to your hard-earned money. Here are some tips to keep your money safe from digital frauds.
The first line of defence is to have strong PIN and app passwords. Avoid repetitive passwords and common combinations.
This activation provides an extra layer of security to your transactions. By enabling this setting, you ensure that even if someone obtains your PIN, they cannot authenticate transactions.
At the time of setting up your UPI, instead of using the pre-paid wallet set-up, link your phone number which will fetch your bank details. This verifies your identity and enhances security.
Phishing scams are a common tactic that loops people in frauds. Be cautious of payment links sent through messages, SMS, and emails. Always verify the authenticity of such communications before making any such transactions.
Stick to BHIM UPI, Paytm, Google Pay or your bank's dedicated applications for safer transactions.
Vigilance is the key to detecting and preventing fraudulent activities. Make it a habit to review your UPI and linked bank account statements regularly.