Almost half of cyber crime cases since 2020 have been linked to upi
05 Oct 2023
1 min read
According
to consulting firm Praxis Global Alliance’s ‘Anatomy of Fraud Report 2023’,
phishing, vishing, malware and using deceptive UPI handles are the most
prevalent kinds of UPI scams.
Under
phishing, fraudsters send bogus e-mails to access sensitive information, such
as passwords or PINs, from the victim. Malware is used to extract and copy data
from an infected device. When fraudsters call, claiming to be bank employees
and ask for the UPI PIN, it is vishing.