UPI App users alert: Amid ongoing online banking or UPI-related scams, India's one of the largest private lender, ICICI Bank has issued an advisory for its customer.
ICICI bank has warned all online banking users, especially those who use UPI apps-- Google Pay, PhonePe, Paytm, to be very cautious of frauds, in the wake of UPI-related scams.
According to reports, with UPI-based payments apps like Paytm, Google Pay, PhonePe and others, fraudsters are dupping users, using the lack of awareness of the scam among them. Shockingly, even well-educated citizens residing in metro cities are falling for these UPI scams.
ICICI Bank is the latest to issue an advisory, after RBI, SBI, HDFC and other banks.
Here's what ICICI Bank has said in its latest advisory:
Do not entertain calls from unknown people, who represent themselves bank's customer care executive.
Do not share your debit/credit card details or bank details on the call, no matter whoever or whatever service he or she claims to be.
Never share your OTPs for UPI registration or PIN you receive on your phone with anyone. The fraudster uses it to create an ID for fraudulent transactions.
Fraudsters will ask you to share your bank details and will ask you to create a new Virtual Payment Address (VPA) ID for your account and set MPIN to do transactions. Never do this ever at any cost.
Most importantly, if you receive any links on your phone via SMS or on messenger from anyone, especially if the person is unknown, never click on it as scammer could hack your phone and loot your hard-earned money.
Always know that OTPs are only generated when you try to do a transaction for taking out money from your bank account.
Did you know, UPI Pin is entered only when you make a payment and NOT when you receive money.