Using UPI comes with risks, and making a mistake during the process could potentially empty your bank account. Therefore, it is crucial to keep certain things in mind. Here are some tips to help you secure your money while using UPI:
Banking Alert: When using UPI, it is essential to pay special attention to several factors. A single mistake can lead to significant financial loss. Today, we are providing you with some tips that can help you keep your money safe. UPI establishes a direct connection with your bank account, and upon entering the UPI PIN, funds are directly withdrawn from your account. Hence, it is essential to be vigilant while using it.
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SMS Fraud: Frauds are also happening through SMS. Users receive a message on their phone numbers, containing a link. Clicking on the link takes them directly to the UPI app. Here, details of your bank account are requested, and upon entering the UPI PIN, money is directly withdrawn from your bank account. This is a new technique employed by scammers.
OLX Fraud: Many people use OLX, especially for selling used products. However, scammers are causing financial harm through this platform as well. After posting an advertisement, scammers call and talk about buying the product. Subsequently, they send a link, claiming it’s for making the payment. As soon as you enter the UPI PIN, money can disappear from your bank account.
Prevention Measures: To avoid falling victim to such scams, firstly, refrain from entering your PIN. Secondly, avoid opening any unknown messages, as they may contain links that could result in significant financial loss. Lastly, never share your bank information over the phone, even if you accidentally get involved in a conversation. Scammers can extract sensitive information during such calls.
