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Obnews Tech Desk: New scam in UPI: Frauds through pull transaction, take these precautions for rescue, along with the increasing use of the advocates, cyber criminals are also engaged in cheating people by searching for new ways. Recently, the cases of UPI PULL Transaction Scam have increased rapidly. In this scam, thugs send a payment request to the users and if the user accidentally accepts it, the money disappears from his account. In view of the increasing cases, now this feature is being considered.

What is Pull Transaction Scam?

In Pull Transaction, a merchant or scammer sends a payment request to the customer, in which the amount is already fixed. The user only has to enter UPI PIN and the money is deducted directly from the account. On the other hand, push transaction is the one in which the customer itself scans the QR code or transfer the amount directly to the merchant account.

According to RBI data, in the first half of 2024-25, more than 27,000 complaints to bridge transaction have been filed, it is clear that this method has become a new weapon of cyber criminals.

Considering closure of pull transaction

In view of the increasing cases of cyber fraud, the National Payments Corporation of India (NPCI) is considering shutting down this feature. NPCI is interacting with banks on this issue, although no official decision has been taken yet.

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How to avoid UPI scam?

• If you make digital payments from UPI, then you can avoid cheating by adopting these precautionary measures:
• Do not share UPI PIN or banking information to any unknown person.
• Carefully check any payment request on UPI. If you see a suspicious request, reject it.
• Always download the UPI apps from the official platform (Google Play Store or Apple App Store).
• Avoid clicking on the fishing link and do not install the app sent by an unknown person.
• Avoid online banking or UPI transactions on public Wi-Fi.
• Check the message coming from the bank regularly and report any suspicious transactions immediately.

If NPCI decides to shut down this feature, it is expected to reduce the UPI fraud cases significantly. But till then, being vigilant is the greatest defense.