Imagine being in the midst of a hectic day at the office when suddenly you receive a call. The person on the other end informs you that they have mistakenly transferred 20,000 rupees to your account and urgently needs it back as they are in the hospital due to a family medical emergency. To add credibility, they even send you a small amount, say 200 rupees, as a token.
Under pressure, you quickly check your UPI payment app, where you see what appears to be 20,000 rupees credited to your account. However, upon closer inspection, you realize it's not 20,000 but just 200 rupees. This common mistake often goes unnoticed in the rush of the moment.
Later, during your lunch break, when you have time to review your account balance, you realize the true extent of the scam. By then, it's too late.
How to Stay Protected?
Kunal Varma, co-founder and CEO of digital banking platform Freo, highlights a prevalent scam called the 'UPI Overpayment Scam,' where fraudsters send a small amount to the victim's account and then demand a larger sum, claiming it was mistakenly transferred.
Varma explains that innocent individuals often fall prey to the scammer's pressure tactics. The surge in such scams is attributed to people's tendency to overlook due diligence in their busy schedules.
However, vigilance is crucial. If you receive any such suspicious calls, it's imperative to verify them immediately. There's no need to rush into anything. If you suspect foul play, report it to your bank and the UPI service provider promptly. Additionally, complaints can also be lodged with the National Payments Corporation of India and the cyber cell.
In the age of digital transactions, staying alert is paramount. The surge in UPI fraud cases underscores the importance of exercising caution and verifying any unexpected transactions or requests. By remaining vigilant and promptly reporting suspicious activities, individuals can protect themselves and others from falling victim to such scams.
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