Beware from Online Payment frauds while doing Digital Transactions

Online payment Fraud (1)

Digital transactions are increasing day by day and as the digital transactions take over we are increasingly seeing more online frauds. If we look at the number of rising cases of frauds it will increase many folds

The most common frauds through digital transactions are through UPI, IMPS and PPI Transactions. People are facing frauds while due to security issues while doing online payments and lack of education and know how  when it comes to online payments lets discuss some common online payments frauds plaguing in India.

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1. UPI Online Frauds- UPI is known for the best method to do online day to day payments. UPI frauds are most common while doing online payments. There are so many types of inline frauds can be done through UPI Scammers act as customer care of Govt Institution or Bank and asks for your UPI ID and Pin . They will tell you that this will update their app or you will lose access to the app you don’t follow the instructions. Always check the authenticity of the caller before disclosing the confidential details. Don’t make transactions to any random website which want you to claim rewards cash back or money . it is a trick to collect your UPI and Pin . Once they will collect your Pin they can withdraw amount from your account immediately. Never provide access of your mobile or computer to any customer care claiming to update your KYC Online. If you want to do secure payment keep changing your UPI Pin every month or you can even limit the daily transactions of UPI.

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2. Remote Takeover of devices Fraud- Elderly people fall prey for online frauds as they are new to online payments and scammers take remote access of their systems by saying that they will help them to do the smooth payment. They act as bank employees and shows that they will resolve the error of your device. They will make you panic that if they don’t resolve the issue your bank account gets locked and according to their instruction they will get hold of your system and acquire sensitive information like OTP or saved passwords from your device . if you are facing any kind of technical problem in doing payments and you need to be told to download any screen sharing app deactivate or log out from all payment related apps. And these apps should only be downloaded if it is directed by the official toll free number of the company or website. Please be aware while doing online payments.

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3. QR Code scam- QR code scam is quite common doing while doing online transactions customers are frequently called by disguised people to use banking applications on their phones to scan QR codes and the moment users scan code they will unknowingly transfer the huge amount in to scammers account.

4. Manipulated SEO compromising Credentials frauds- Lot of people uses search engine results for acquiring contact details of the banks insurance companies and merchants. Scammers use SEO techniques to rank their manipulated credentials imitating a real website So that clients will end up calling at the scammer’s link instead of real owner link. They will compel or convince you to share your sensitive details with them. It is advised to all that you have to cross check the phone number or email before doing any kind of payment and please note that customer care numbers are not in the form of mobile numbers .

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5. Phishing- Some fake websites are created by online scammers which resemble like the real entities and users who are new to online transactions can fail to track such sites and do online payments for the products and receive nothing in return scammers use bulk message service to broadcast SMS to unsuspecting Users.

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