The Unified Payments Interface (UPI), launched by the National Payments Corporation of India (NPCI) in 2016, has transformed digital transactions, making them seamless for millions across India. However, the surge in UPI usage has also fueled a rise in scams, costing users their hard-earned money. Here’s a breakdown of common UPI scams and essential tips to avoid them.

Common UPI Scams

1. Refund Scams: Fraudsters send a small amount to your account, then demand a larger “refund” citing urgent needs like medical emergencies. Victims often overpay before realizing the scam.
2. Cash-for-UPI Scams: Scammers promise cash in exchange for a UPI transfer, only to vanish or provide counterfeit notes after receiving funds.
3. Phishing Links: Fake SMS, WhatsApp messages, or emails with malicious links lead to counterfeit UPI interfaces that steal credentials, PINs, or OTPs.
4. Fake UPI Apps and QR Codes: Scammers create fraudulent apps or QR codes mimicking legitimate platforms, tricking users into unauthorized transactions or account access. Scanning certain QR codes can deduct money instead of adding it.
5. Impersonation Scams: Fraudsters pose as bank officials or police, pressuring victims for urgent UPI payments to “resolve” fictitious issues or dues.

How to Stay Safe

• Never Share Your UPI PIN: Required only for sending money, not receiving. Avoid sharing it with anyone, including supposed bank representatives.
• Avoid Suspicious Links: Refrain from clicking unverified links in messages or emails to prevent phishing attacks.
• Use Trusted UPI Apps: Download apps only from Google Play Store or Apple App Store, avoiding third-party sources.
• Verify QR Codes: Double-check QR codes before scanning to ensure they’re from legitimate sources.
• Report Immediately: If scammed, contact your bank and file a police complaint promptly to limit losses.

With UPI transactions soaring, staying vigilant is crucial. By recognizing these scams and following basic precautions, users can safeguard their finances in India’s booming digital payment ecosystem.

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