“UPI fraud ho gaya” - but is the UPI system actually unsafe?

At the recent Conference on ‘Tackling Cyber-Enabled Frauds & Dismantling the Ecosystem’, we spoke with Mr. Hardik Dixit, Head, Fraud Risk

Management at NPCI, to understand whether the issue lies in the payment system or in user manipulation.

He mentioned that
•UPI follows RBI-mandated two-factor authentication
•Payment happens only when the user enters their UPI PIN
•When scanning a QR code, the beneficiary’s registered name is clearly displayed
•Apps show a confirmation prompt before paying an unknown beneficiary
•Fraudsters exploit fear, greed, or confusion to trick users into authorising payments

UPI as a payment system is designed with safeguards. In most cases, fraud occurs when users are misled or pressured into making voluntary payments.

If you are a victim of cyber fraud, report it immediately by calling 1930 or visiting cybercrime.gov.in

#UPISafety #CyberFraudAwareness #DigitalPayments #CyberSecurityIndia #CyberDost