These five ways will protect you from UPI fraud

These five ways will protect you from UPI fraud

Unified Payment Interface (UPI) has become a well-known medium for online payments today. Due to its effectiveness, it is being used extensively. With the increased use of UPI, the risk of banking fraud has also increased. In the last few years, incidents of financial fraud against UPI users have also increased. In such a situation, we are going to tell you such methods, which can be used to reduce the chances of fraud.

1- Never share UPI ID and PIN to callers in the name of Customer Care Centre, Bank, Government Institution or reputed company. Always collect as much information as possible about the caller or sender. If someone asks you for PIN information, he may be a fraud.

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2. Never give access to your mobile or computer to a customer care representative claiming to update the required information or KYC.

3- Do not transact on any website that offers rewards, cashback or money. Such fraudsters can take your UPI ID and PIN information through small transactions. Once they get the PIN, they can withdraw all the money from your bank account.

4- Change the UPI PIN every month. Otherwise, change the UPI PIN at least in three months. This is a good habit to keep the account secure.

5- You can also set a limit on the amount that can be transacted daily on UPI to avoid fraud.

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Posted by Talkaaz