.jpg)
.jpg)
.jpg)
RBI Strengthens UPI Safety: How to Protect Yourself from Online Scams
The Reserve Bank of India (RBI) has issued new guidelines for UPI users. According to these guidelines, UPI users should use strong passwords, avoid sharing their UPI IDs, avoid clicking on unknown links, set transaction limits, and change their UPI PINs frequently. These measures can help UPI users keep their money safe.
Today, UPI usage for online payments has increased significantly. It has made our daily transactions easier and faster. However, with the growing adoption of digital payments, cases of online fraud are also rising. To counter this, the Reserve Bank of India has just released new UPI security guidelines aimed at ensuring that ordinary users do not fall into the trap of cyber fraudsters. The RBI has prescribed five major rules that, if followed, can help users keep their bank accounts and digital payments 100% safe.
The RBI, in its new UPI security guidelines, has said that phishing links and fake QR codes are the most common tools being used for committing UPI fraud. At times, fraudsters send links or QR codes on the pretext of a refund or cashback. Once clicked or scanned, the bank details of the users are stolen.
It has also been observed that many cybercriminals pose as bank officials or payment app agents and ask for an OTP or PIN. However, the RBI has clearly stated that no legitimate institution will ever ask users for an OTP, PIN, or password.
