What is UPI fraud?

UPI fraud refers to deceptive activities where fraudsters exploit the Unified Payments Interface to steal money or sensitive information. Unlike system hacks, these scams typically use social engineering to trick users into authorizing transactions. Common methods include:

• Sending fake "Collect Requests" that deceive users into entering their PIN to receive money.
• Sharing fraudulent QR codes that debit the user's account instead of crediting it.
• Phishing via malicious links or fake apps to harvest OTPs and UPI PINs.

Always remember that a UPI PIN is only required for sending money, never for receiving it.