How to secure your UPI transaction – GooglePay, PhonePe Digital Transaction
The Unified Payments Interface (UPI) has revolutionized money transfer management, offering convenience but also posing potential fraud risks. To ensure digital payments remain secure, proactive measures must be taken, as outlined in a comprehensive guide.
How to secure your UPI transaction with Simple Steps
01 – Staying proactive against fraud
To prevent UPI fraud, it’s crucial to regularly update devices, safeguard personal data, use strong passwords, opt for 2FA, rely on secure networks, and monitor transaction alerts to enhance transaction security.
02 – Reporting suspicious activity
If you encounter suspicious transactions or UPI fraud, report it immediately to your bank’s customer care, local police, or the cybercrime portal. If unresolved, follow RBI guidelines for reporting issues to the UPI app’s customer care and escalate to the RBI ombudsman if needed. Prompt reporting aids in investigating and resolving fraudulent activities.
03 – Enabling transaction alerts
Activate transaction alerts on your UPI app to receive real-time account activity updates, detect and respond to unauthorized transactions, and contact your bank or authorities immediately if suspicious activity is detected.
04 – Implementing two-factor authentication
Two-factor authentication (2FA) enhances security in UPI transactions, reducing unauthorized access even if PIN is compromised. Be cautious of fake UPI social media handles and scam apps, use official sources, and remember that legitimate banks or institutions never request UPI credentials via call centers.
05 – Using secure networks
Avoid using public Wi-Fi or unsecured networks for UPI payments, as they are more susceptible to hacking and eavesdropping. Instead, use trusted, secure networks for secure financial transactions.
06 – Staying alert to scams
Scammers use tactics like phishing emails, suspicious links, and unsolicited data requests. Verify legitimacy before sharing information and update privacy settings regularly to reduce scam exposure. Being informed and cautious can significantly reduce fraud risk.
07 – Protecting your UPI PIN
Keep your digital devices updated with security patches and use strong alphanumeric passwords. Be cautious about sharing personal information online and never disclose your UPI PIN, password, or OTP. Vigilance and awareness are key defenses against fraud.
