HiTech IT and Tech
Almost half of cyber crime cases since 2020 have been linked to UPI
05 Oct 2023
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.

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