Protect yourself from QR Code fraud with these 3 powerful tips for staying safe.
QR Code fraud is a growing concern for digital payment users, and it is essential to understand how it works and how to stay safe from it. Fraudsters use various tactics to trick users into scanning QR codes and stealing their money. QR Code fraud is a type of scam in which fraudsters send a QR code to unsuspecting victims, usually through a picture-sharing app or messaging service. The message will ask the victim to scan the QR code and enter an amount and their UPI PIN to receive free cash rewards or other incentives.
In this article, we will discuss how to protect yourself from QR Code fraud and what to do if you fall victim to it.
What is QR Code Fraud?
QR Code fraud is a type of scam in which fraudsters send QR codes to unsuspecting victims, asking them to scan the code and enter their UPI PIN and other sensitive information. Once the victim enters the information, the fraudsters can access their bank account and transfer money out of it.
How Does QR Code Fraud Work?
Fraudsters use several methods to lure victims into scanning QR codes. They may send a QR code with a message promising cash rewards or freebies or a message that appears urgent and important, making the victim feel like they need to act quickly.
Once the victim scans the QR code, they are asked to enter an amount and their UPI PIN. This information is then used by the fraudsters to access the victim’s bank account and transfer money out of it.
How to Protect Yourself from QR Code Fraud
Here are three tips to protect yourself from QR Code fraud:
1. Scan QR codes only to send money, not to receive payments.
It is essential to remember that you need to scan a QR code only to send money, not to receive payments. If someone asks you to scan a QR code to receive money, it is likely a scam.
2. Do not scan QR codes received from unknown or unsolicited sources.
It is crucial to be cautious when scanning QR codes received from unknown sources, especially those promising cash rewards or freebies. Such messages may be designed to trick you into revealing your UPI PIN and other sensitive information.
3. You will never have to ‘Pay’ or enter your UPI PIN to receive money on PhonePe or other Payments method
PhonePe, Google Pay, and Paytm are popular digital payment platform in India that allows users to send and receive money seamlessly. For example, it is important to remember that you will never have to ‘Pay’ or enter your UPI PIN to receive money on PhonePe. So, if you receive such a message, do not respond and report it to PhonePe Support immediately.
This is an example of a fraudulent message. (Source: PhonePay)
What to Do If You Fall Victim to QR Code Fraud?
If you fall victim to QR Code fraud, it is essential to act quickly to limit the damage. Here are some steps you can take:
Contact your bank immediately.
Contact your bank and report the fraudulent transaction. They will guide you on how to proceed and help you recover your money.
Report the incident to the police.
File a complaint with the police and provide them with all the details of the incident. This will help them investigate the matter and take appropriate action against the fraudsters.
Example
Contact PhonePe Support.
If you received a fraudulent message through PhonePe, report it to PhonePe Support immediately. They will help you take the necessary steps to secure your account and recover your money.
Here’s what you need to remember to stay safe from fraud:
PhonePe never asks for confidential details. If you are asked for such details by anyone posing as a PhonePe representative, please ask them to send you an email.
Only respond to emails from the @phonepe.com domain.
Also careful about following
Do not search for PhonePe customer support numbers on Google, Twitter, FB, etc. The ONLY official way to reach PhonePe customer support is support.phonepe.com
Never call/respond to unverified mobile numbers claiming to be PhonePe Support.
Connect with social media platforms.
Twitter handles: https://twitter.com/PhonePe
https://twitter.com/PhonePeSupport
- Facebook account: https://www.facebook.com/OfficialPhonePe/
In case your card or account details get compromised: - Report to support.phonepe.com
- Approach your nearest cyber cell and file a police complaint.
Final Words
QR Code fraud is a serious threat that can lead to significant financial losses. By following the tips mentioned above and staying vigilant, you can protect yourself from these scams and enjoy safe and secure digital transactions. Remember, if you ever receive a suspicious message or QR code, always err on the side of caution and report it to the relevant authorities immediately.
Did you know that: Increase in digital payment in India
Over the last few years, digital payments have experienced a steady rise in India as part of the government’s plan to digitize the financial sector and economy. From 3,134 crore digital payment transactions in FY 2018-19, the figure has grown multifold to 5,554 crores in FY 2020-21.
As of February 28th, 2022, a total of 7422 crore digital transactions have been reported in the current financial year, FY 2021-22.
Bharat Interface for Money-Unified Payments Interface (BHIM-UPI) has become the preferred payment mode among citizens and has set a record of 452.75 crore digital payment transactions worth Rs 8.27 lakh crore as of February 28th, 2022. The COVID-19 pandemic has highlighted the importance of digital payments in accessing healthcare through contactless payment modes like the BHIM-UPI QR code, in line with the “new normal” of social distancing. (Source: PIB)
