UPI viral scam: Fraudsters steal Rs 1 crore from 81 users in Mumbai; know their modus operandi
UPI viral scam: Scammers are sending money to the victim's account through UPI apps and then are calling them and requesting them to send it back. However, as soon as a victim sends money back, the scammers hack into their UPI account to steal money.
FollowIndia's online payment sector has undergone a change because to UPI (unified payment interface) payments. With UPI, you can rapidly transfer money across bank accounts for everything from online shopping and airline reservations to buying groceries or vegetables from roadside sellers. The Reserve Bank of India reports that in February 2022, the number of daily transactions supported by UPI increased from 24 crore to 36 crore. However, as online payments have grown in popularity, they have also established themselves as a major hub for online fraud.
Online con artists are exploiting "payment mistake" strategies in a widespread UPI fraud case to defraud victims and steal money from their UPI-connected bank accounts. Reports suggest that the viral UPI scam has looted more than Rs 1 crore from 81 people in Mumbai.
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The scammers are allegedly sending money to individuals using their UPI applications, such as Google Pay, and then calling them to claim that the transfer was made in error, according to the FIR and victim statements. The mystery caller then asks for individuals to return the money to their phone number. When someone sends the money back, though, the con artists hack into their UPI account and take money straight out of their bank account.
If the victim uses the UPI app to pay back the money, malware infects the victim's smartphone, allowing the con artist access to all of their data, including bank account information and KYC (Know Your Customer) information like PAN and Aadhaar. With this knowledge, the con artist may access the victim's bank account and cause further damage.
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To stay safe, it is essential to remain vigilant and take appropriate measures to protect yourself from potential fraud. By staying informed and taking the necessary precautions, you can help ensure their online transactions remain safe and secure.
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