These are some of the common UPI-related frauds. Key steps to avoid them | Mint

There is no denying the fact that Unified Payment Interface (UPI) has become quite pervasive and it is relied upon for most sundry transactions. In the past few years, most youngsters have switched from debit and credit cards to digital payments via UPI.

The latest NPCI data suggests that UPI achieved a new milestone of 16.99 billion transactions in a month amounting to ₹23.48 lakh crore in January 2025.

As a result of the common usage, number of frauds has also seen a major spike in the recent past. In FY 2023-24, number of fraud cases in the banking sector rose by nearly 300 percent in two years to hit 36,075 cases, RBI data revealed.

Also, fraud cases rose 27 per cent year-on-year to a total of 18,461 cases in the first half of financial year 2024-25, as per RBI data.

These are some of the common UPI-led frauds which have come to surface.

I. Misleading UPI handles: Some frauds happen via fake UPI handles such as @BHIM2help and contact the users who have filed online complaint against these agencies. Then under the guise of helping them, they manipulate them to share information online.

II. In the guise of collect request: Some fraudsters also manipulate gullible customers by pretending that this is a request to send the money or transaction reversal which never happens.

III. Phishing: In this, some users receive unauthorised links and on clicking them, they are directed to an app where auto debit happens, thus making them lose money.

IV: By sending misleading text: Some fraudsters would urge you to transfer the money back since they mistakenly sent you some money. Imagine that you received a misleading message which made you believe that you received ₹5,000 in your bank account.

Someone calls you randomly saying that the money was sent by mistake and requests you to transfer it back.

Now when you transfer the money, it will be the only genuine transaction whereas the previous message was actually sent by the fraudster while you overlooked the sender’s number.

V. Through Any Desk: Sometimes fraudsters reach out to customers by pretending to be an employee of a bank and while trying to help them, they make them download screen mirror apps such as Any Desk or Team Viewer.

This way, they get access to their phone or computer, enabling them to carry out illegitimate transaction.

This is how you can protect yourself from these frauds.

Take these steps to safeguard yourself:

1. Never share your OTP or password with anyone not even to the bank’s employees.

2. When you receive a link online, do not click it regardless of temptation.

3. Never share the access to your phone or computer through an app.

4. Do not scan a QR code in order to receive the money. It is done only to send the money and not to receive it.

5. Be in the lookout for red flags. When someone tries to convince you to pay or transfer money by frightening you with claims such as yout number could be blocked, your bank account would get frozen etc – understand that this is simply a trap.