Beware of UPI Unified Payments Interface Frauds

As the jobs loss are on raise in India due to lack of Business activities due to lock down extension and seal down of Businesses, educated fraudsters are finding out wrong way trick the UPI users and make money. These fraudsters are expert in using Computers and Networking but lack Social Skills and can be easily identified.

The new way of banking introduced by Govt of India Unified Payments Interface (UPI) connects the Mobile Number, UPI ID with their Banks directly. With these we will be able to transact the money present in the bank savings account directly with the help of Mobile Number or UPI ID.


Although the technology is very useful but it brings back its worst side as well. We have an option to pull money from X's account if and only if X person approves the transaction.

Normal Transaction send money


For example suppose Mom and Son have both registered as UPI customers suppose Son wants to send money to his mother its very simple type in the Mobile Number / UPI ID of his mother and sends the amount. With this Son account gets bank debited with amount and credited it to Mothers bank account.

Normal Transaction pull funds


Similarly there is another option where most of the UPI users are not aware of it is pulling the money from account. Assume a situation where Mother requires urgent cash, she has an option to pull the money from Sons bank account. Mother places a request to pull fund from Sons account and Son approves it. The above transaction occurs only when Son approves the transaction then Son account gets bank debited with amount and credited it to Mothers bank account.

Fraudulent Transaction 


Most UPI users get tricked here by fraudsters send the Link / Any Code (QR / Dot / etc) to pull money from victim UPI if victim is stressed, not focused on the transaction and mistakenly approves it. The bank transactions occurs money gets debited from victims account and gets credited to fraudsters  account.

The fraudsters may be any one who calls you and requests you to open an attachment / click on Link he has sent / Scan a QR code / any code. These can be easily identified as they lack social skills and gets caught red handed. 

Although pull funds feature has bought both advantages and disadvantages, next time when you see some one calling you and requesting you to click link or scan the code and approve the transaction. Please be aware of it and request the identity of the person until then do not transact or use UPI interface.