UPI has a simple four-digit PIN to authorise transactions. This is a fairly common scam and many have fallen for it. This means they authorised a UPI payment from their phone instead of accepting money from the caller.

However, this will be a payment request - UPI apps do not require users to enter PIN to accept a payment. Within seconds, the user gets a message mentioning the said amount on your UPI app in a rush to encash the cashback, many users enter their PIN. Many scammers even keep an eye on Twitter and Facebook for complaints shared by users on the platform they then call as executives of such companies and promise to process a refund. She/ he says the user has been awarded some cashback and asks them to accept it via any UPI app of your choice. This is a variation of the Request Money scam, wherein the scammer will call and pose as an agent of the bank or a major retail chain. He even tried requesting me rs 3999 through phone pe. As soon as you enter the PIN, you have validated the transaction and the money gets transferred from your bank account to the fraudster’s Just got a call from +91 9064342853. You receive the request and, unassumingly, enter your UPI M-PIN. Say you’re expecting a payment from a person for a product you want to sell, but instead of paying you the amount, the person sends a payment request for that amount. On apps like Google Pay, PhonePe, BHIM, etc., there is an option to request money from another person, which is something fraudsters take advantage of. OLX and Quikr are well-known for hunting grounds for frauds using this scam. This happens when a user receives a request to pay money instead of getting a payment, and isn’t paying enough attention to the transaction. One of the most common UPI scams is the ‘Request Money’ scam.

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