Scammers are constantly looking for new ways to exploit UPI (Unified Payments Interface) or mobile payment systems, and their schemes become ever more sophisticated each day.
Being secure while using UPI should always be your number one concern, and here are seven tips that will keep your personal information, financial transactions and bank accounts safe while using these applications – let’s have a closer look!
Here are 7 Ways to Protect Your UPI from Scammers!
1. Secure your UPI PIN with a lock and a key.
Your UPI number is your key to accessing bank accounts of your choice; thus, keep it strictly confidential.
Your UPI PIN should be treated like any ATM PIN, as its purpose is for confidentiality.
Enter your UPI PIN only through the UPI’s official page that is displayed on your banking application.
Don’t enter it in any other place even if you are asked by support. It is not necessary to enter your PIN.
2. Always Access UPI PIN on the Official UPI PIN Page
It’s the UPI PIN login page that you will see when you make transfers. It appears similar across all UPI applications.
This is because it’s a secure portal provided by NPCI, which is the main UPI provider.
You must enter your PIN only on this page and not use any other website or application.
Some scammers will try to replicate the UPI PIN webpage using scammy links to get your PIN so they can gain access to your account.
If you are using your official PIN page on your banking application, Your information is secure.
3. Verify who you’re paying.
Prior to sending money through UPI, ensure that your account has the recipient’s name and UPI ID in place.
It’s easy to send money to the wrong person if you aren’t paying close attention.
Making a little extra effort to check the information can help you avoid a huge headache.
If the name isn’t familiar, then run it through the recipient’s name to verify before beginning the transfer.
4. Don’t download strange or unknown apps.
If someone you don’t know calls you to ask for an SMS or screen-sharing forwarding software, you can tell them no.
Don’t install software upon request from someone you don’t know or you don’t trust.
The apps can be misused to compromise your phone’s security and access sensitive financial information.
Make sure you download apps only from the official app stores or from your bank.
5. Keep an eye on transaction history on a regular basis.
It is a good idea to regularly review your UPI transaction history to identify any transactions you aren’t able to locate.
This can be done by examining the transaction history of both of the UPI applications you are using or the bank’s statement.
If you find any suspicious transactions, ones that weren’t made, strange transactions, or anything other than doubtful, you should notify your bank right away. Being proactive can stop financial losses due to fraud.
6. Make use of UPI on secure networks.
Beware of public Wi-Fi networks when making UPI payments or logging into your account.
Public Wi-Fi networks can easily be monitored by hackers attempting to obtain financial data.
As an additional measure against theft, consider paying through wireless data or Wi-Fi networks at home or the office, which provide more secure payment solutions and are less vulnerable.
Doing this will prevent prying eyes from accessing sensitive details about yourself.
7. Never share financial details publicly.
Be careful not to share or post any financial details that are sensitive on the internet or through SMS.
That includes information about your UPI PIN or password, account numbers or any other personal details.
Legitimate companies will never solicit such information on social media or other publicly accessible platforms.
If you provide it, scammers will gain access to your account. Be sure to keep your financial transactions private to protect yourself.
The following basic guidelines will ensure that your money remains exactly where it belongs: in your bank account.
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