Scammers now employ a variety of inventive techniques to trick victims and steal money from their accounts. 13,951 fraud cases totaling Rs 76.49 crore with an estimated loss of Rs 25.77 crore were reported in 2021–22 alone. With UPI usage increasing, the issue is becoming worse.
According to the data released by the National Payments Corporation of India (NPCI), UPI transactions rose astronomically to Rs 10.7 trillion in August.
State Bank of India (SBI) has shared some UPI security Tips to make UPI transactions safer and secure since UPI has become a major tool for the transactions. SBI said while sharing the video, “Always remember these UPI security Tips while using or making UPI transactions. Stay Alert & #SafeWithSBI.”
SBI shared these tips for making online transactions safe:
- When receiving money, you don’t need to enter your UPI pin.
- Always check the recipient’s identity before sending them money.
- Don’t comply with arbitrary, unknown collect requests.
- Never disclose Your UPI Pin to anyone.
- Always double check the beneficiary information before sending a payment via QR quote.
- Regularly change your UPI pin.
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SBI previously advised users to avoid the malware SOVA. It tweeted, “Don’t let malware steal your valuable assets. Always download the trusted apps from reliable sources only. Stay Alert and #SafeWithSBI”
SBI mentioned that SOVA is a new malware that steals your valuable assets in an infographic it shared. An android banking Trojan horse uses banking apps as a target to steal user data. When users access their bank accounts through their net-banking apps, this malware steals their login information. It is impossible to uninstall once it has been installed.
SBI advised to only download verified apps from the Google Play store, use a reliable antivirus, avoid downloading apps by clicking on links, check the app permissions, and only grant the minimum number of permissions required. Finally, it was advised to avoid visiting unreliable websites.
