In a viral case of UPI fraud, online scammers are using "payment mistake" tactics to trick money and steal money from their bank accounts linked to UPI. According to Reports,
Viral UPI scam has looted more than Rs 1 crore from 81 people in Mumbai.
Scammers are sending money to people on their UPI apps like Google Pay and then contacting them claiming that the transfer was a mistake.
Then the unknown caller requests people to send the money back to their number. However, as soon as someone sends the money back, the scammers are able to hack into their UPI account and steal money directly from their bank account.
This (UPI Scam) is a mix of malware phishing plus human engineering and hence existing anti-malware software may not be sufficient to safeguard Mobile payment application users from this online fraud.
Scammers are able to deliver malware that infects the victim's device, giving the scammer access to their entire data, including bank and KYC (Know Your Customer) details such as PAN and Aadhaar. With this information, the scammer can hack into the victim's bank account and cause further damage.
As per PhonePe, UPI gateways are safe and scammers cannot hack into sensitive data by just seeing the transaction details. However, beware of such fraud attempts and protect yourself by reporting such case instead of falling victim.
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