Saturday, 30 July 2022

Safeguard yourself against UPI frauds


Protect yourself from fraudulent payments
on the Unified Payment Interface (UPI) applications.
 
Fraudsters send QR Codes using messaging applications to targeted individuals and persuade them to scan the QR Code or send a 'Collect Request' to click and approve a payment
 
Once scanned or approved, funds are transferred to the fraudster's account.
 
Often fraudsters trick the targeted individual by building a false story such as intending to buy a product that the targeted individual is selling or impersonating as a bank or an online shopping company executive
 
Fraudsters then offer to process refunds/unclaimed cashback offers, Reward Points, etc.
 
A QR Code or a 'Collect Request' is sent to the targeted individual.
 
They scan the QR Code or approve the 'Collect Request'
 
Funds are then transferred to the fraudster's account once the individual uses his/her UPI PIN or Mobile PIN (MPIN)
 
 
UPI PIN or MPIN are not required for 'receiving funds'. It is only required for payments
 
If your UPI PIN/MPIN is compromised, change it immediately
 
In case of a fraud, check for the transaction in your linked account and report it immediately
 
Do not share your UPI PIN or MPIN with anyone
For more information on online security, visit www.icicibank.com
or call ICICI Bank Phone Banking.

Sincerely,
ICICI Bank Limited.
T&C apply
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