UPI has become one of the most popular methods for digital transactions, with an increase in usage over recent months. According to NPCI data, UPI transactions saw an 8 per cent growth in December 2024 compared to November. As the number of transactions increases, so do the scams. As scammers continuously come up with new methods to deceive users, such as phishing, fake UPI IDs, and impersonation, it’s important to stay vigilant. Here are 5 essential tips to protect yourself from UPI scams.
1. Verify UPI Payment Links
Be cautious if you receive links to make payments by SMS or email. To trick you, scammers frequently pose as legitimate companies. Make sure the source is correct before clicking, and if you're not sure use the official UPI app or input the website URL yourself. Refrain from clicking on links from unknown sources, as they might redirect you to fraudulent websites.
2. Enable UPI Transaction Alerts
On your UPI app, make sure to activate transaction notifications. This will allow you to monitor every payment that takes place in your account. If you get an alert for a payment you don’t recognize, contact your bank or UPI provider immediately. It’s a simple step that can help you detect scams early and protect your funds.
3. Never Share Your UPI PIN
Your UPI PIN is confidential and must remain secure. Scammers may impersonate customer service agents or trusted contacts to trick you into sharing it. Be cautious of unsolicited calls or messages asking for your PIN. If you suspect it’s been compromised, change it immediately. Remember, no legitimate authority will ever ask for your PIN.
4. Beware of Fake UPI QR Codes
Fake UPI QR codes may appear similar to the real ones but are created to scam you. Always verify the QR code before scanning. If you are unsure manually input the UPI ID or contact the sender for confirmation. Scanning QR codes from unknown sources should be avoided, especially in public settings where scammers may try to trick you.
5. Monitor Your Bank Account Regularly
Make it a routine to regularly check your bank account for any unapproved UPI transactions. Even with transaction alerts, it’s still important to review your account for any unusual payments. If you spot something strange, report it to your bank immediately. You could reduce the harm and prevent other scams by identifying fraudulent conduct early.
