ICICI Bank UPI fraud – Follow these steps to safe guard your money

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Not only it is limited to the UPI frauds, but other Online frauds are also increasing day by day. Keeping this in mind, ICICI bank is warning all of its users to be alert who are using UPI related apps.

Mainly, scammers take advantage of the people who are new to these apps and due to lack of awareness.

Some of the widely used UPI based Apps

  • Paytm
  • Google Pay
  • PhonePe

Steps to follow to stay away from scammers – Issued by ICICI bank

  • Calls

If you receive any type of calls asking regarding your bank details, just disconnect it and even not try to listen completely. Make sure you keep that number in the blocked list.

  • Setup UPI yourself

Don’t be too lazy to do it yourself, UPI is not the one you need to give to your friends or others to set it up. If something is done intentionally by them, you can lose all your money.

  • Never Share OTP’s

Even in any scenario, whether its to be shared with someone, just take a break and transact when you’re with the phone and can type OTP yourself without sharing it.

  • VPN registring fraud

Fraudsters will ask bank details to create Virtual Payment Address ID and also need to setup MPIN to do transactions. In this case, you’re supposed to disconnect the phone without even sharing anything.

  • Fake lottery messages

You may get any messages related to lottery or else to update your bank details via SMS or your email. First, make sure to check out the browser link and if you find it without any Secure mark or the wrong URL. Just ignore it.

  • Request for money via SMS

You have the feature of requesting money and if you click on the link you can directly transfer money to the requested one. As same, requested can be fraudsters so you need to beware of what you’re doing.

  • Scammers can generate OTP for Approving

Fraudsters can generate an OTP and after sharing OTP to a shopkeeper or any merchant your money can be debited from your account. So, never share any kind of OTP to others.

  • OTP’s are generated only when there is something important

You need to understand that, OTP is only generated when there is a transaction going on. So, you need to remember that OTP is generated only when there is an important aspect going on. You’re not supposed to share it with anyone.

Also Read: Paytm Warns people not to download these Apps. Look at the Apps