Unified Payment Interface[UPI] curse or bless!!

 

Unified Payment Interface [UPI]

curse or bless!!

Ever since the rise of Cashless transaction and digital payments in India, cyber criminals have been trying new tricks to device people from all walks of life.

Cybercriminals have done a lot of harm as long as ordinary users understand these techniques. There are more ways to digitally deceive cybercriminals than there are digital payment ways.

As on March 2019 as per report submitted by National Payment Corporation of India [NPCI] 79.75 crore number of transaction and the amount transacted was Rs. 1.33 lakh crore made by UPI.

While the total number of transaction made by UPI in March 2018 was 17.80 crore and the amount transacted was Rs. 24,172 crore.

Thus, UPI transaction has seen a huge increase [6 times] from March 2018 to 2019.

 

 How hackers embezzle/steal money through UPI?

-there are many E-commerce websites in operation today, in the name of which the customer is deceived by sending a link.

-first hackers deposit money in your account and then send a link to get the money back stating that it was deposited by mistake.

-you have won the lottery and we want to deposit money in your account, you are cheated in the name of depositing money in the account by clicking on the given link.