1. Understand the Rise of Online Payments
With cash payments declining, more people are turning to online methods like UPI, credit/debit cards, and QR codes. While contactless payments are on the rise, QR code scams are also increasing.
2. Types of UPI QR Code Scams
- Duplicate QR Code Scam: Fraudsters replace the recipient’s QR code with their own, redirecting payments to their account, cheating remitters.
- Manipulated QR Code Scam: Scammers pose as senders, sharing fake QR codes. Once recipients enter the amount and OTP, money is stolen from their accounts.
- QR Code Email Scam (Phishing): Scammers send fake emails from banks or e-commerce sites, urging recipients to scan QR codes. Falling for this results in financial loss.
3. Protect Yourself with These Steps
- Regularly Change Passwords: Frequently change your Internet Banking, UPI, and PINs to stay ahead of potential scams. Monitor bank transactions and report any suspicious activities immediately.
- Guard Personal Information: Never share personal details over the phone or email. Banks won’t ask for such information via these channels.
- Be Wary of Unknown Contacts: Stay cautious about emails and calls from unfamiliar sources. Scammers might try gift card or holiday package scams to trick you.
- Avoid Scanning QR Codes in Public: Scanning QR codes in public places can expose your PIN. Be cautious, especially when others are around.
4. Verify Before Scanning QR Codes
- Contact the Company: Speak to a representative from the company before scanning QR codes received via email. Check the website’s authenticity with “https://” and verify contact details and policies.
- Avoid Suspicious Links: Don’t make payments through suspicious links, and never share personal or payment-related information with unknown individuals.
- QR Codes for Transactions, Not Receiving Funds: Remember, QR codes are for making transactions, not receiving money. Never share your OTP or PIN.
- Verify Receiver’s Details: When sending money through UPI, double-check that funds are going to the correct recipient. Verify the receiver’s name before confirming the transaction.
- Review Transactions Carefully: Scrutinize transaction deductions closely. Be cautious when letting others handle your phone during transactions.
By following these steps, you can safeguard yourself against QR code scams and enjoy secure online transactions. Stay vigilant and protect your finances!