Awareness is necessity As online transactions continue to gain popularity in India, so does the risk of online fraud. One of the widely-used payment systems in the country is Unified Payments Interface (UPI), which enables users to instantly transfer funds between bank accounts. However, with the rise in digital transactions, instances of UPI fraud have also increased. In this blog, we will discuss the various types of UPI frauds, provide tips for mitigation, and highlight the helpline services available to assist victims. Types of UPI Fraud: SIM Card Swapping: Scammers convince telecom service providers to issue a new SIM card linked to the victim's mobile number. This allows them to intercept OTPs (One-Time Passwords) sent during UPI transactions. Phishing: Fraudsters send deceptive emails or messages posing as legitimate institutions, tricking users into revealing their UPI credentials or other sensitive information. Remote Access Fraud: Fraudsters gain unautho...