How Fake UPI Payment Scams Work? Verify Fake UPI Payment

In today’s digital era, people depend on online payment for everyday transactions, particularly UPI Payments. This dependency on UPI transactions made fraudsters commit payment fraud. The victims are losing their precious money due to payment scams. That’s why people need to be careful during transactions through UPI. Don’t become a victim or get tricked by fake messages or screenshots. Always verify the UPI ID before initiating a payment.

What Are Fake UPI Payments?

Fake UPI payments refer to scams that fraudsters use to trick people into believing that they have received money or manipulate them into transferring money.

Scammers use fake payment links, screenshots, and misleading payment requests to steal money. The fake UPI payment​ is a concern for UPI users. To avoid this kind of scam, people need to verify the transactions in UPI apps or bank accounts, try to ignore unsolicited links, and be careful of payment requests from unknown sources. 

How Fake UPI Payment Scams Work?

Scammers use various means to trick people into fake payment scams, including

• Fake Payment Links: Fraudsters use fake payment links to request transactions, these links redirect victims to phishing sites where they share their sensitive information and use it for illicit purposes.
• Fake Payment Screenshots: Scammers use fake UPI payment generators​ to create fake screenshots. They use this screenshot to trick users into believing that they have received payment.
• Misleading Payment Requests: Fraudster sends a request as an incoming payment, but accepting it deducts the amount from the people’s account.

How to Verify Fake Payment?

You can verify the fake UPI ID and protect yourself from payment fraud,

• Verify the UPI ID: Always check whether the UPI ID matches the official name of the business or individual before sending money.
• Check the Payment Request: Before making any transactions double-check the payment request including recipient and amount.
• Beware of fake links: Don’t click on links and never share OTP with strangers or untrustworthy people.

How to Verify Fake UPI Payment Screenshots?

Here is how someone can verify the fake UPI Payment screenshots,

• Check Bank or UPI App: people must check their bank account and UPI for payment confirmation instead of relying on screenshots. If the payment and screenshot data do not match, it means the screenshot is fake.
• Carefully check every detail of the screenshot: Fake screenshots may have spelling errors, incorrect logos, and formatting issues. it’s important for UPI users to examine screenshots to avoid falling victim to such fraud.
• Check Timestamp Errors: Fake screenshots may have fake timestamps. That’s why it’s important to check the timestamp and transaction timings. If the timestamp does not match the original, it means it’s fake.
• Check UPI Payment History: Check the transaction history if the transaction is not listed there, the screenshot is fake.

Tips to Protect Against Fake UPI Payment Scams

Here are the tips UPI users can follow to avoid payment scams.

• Instead of depending on the screenshot check the transactions in the UPI app.
• Never click on the strange links
• Check transaction IDs in your App before making payments
• Stay away from the unknown payment request
• Do not share your financial and personal data with anyone
• Never share your data on random websites
• Regularly check your transaction details
• Enable App notifications to receive confirmation instantly

Steps to Take if You’ve Been Scammed

Here are a list of steps you should take if you will become a victim of a UPI payment scam

• Report to your Bank: Immediately contact your bank and block the account.
• File Complaint: Use the UPI app to report scams through the help of the “Help or Support” section of the app.
• Change your UPI PIN: Update your UPI PIN to secure your account and prevent you from further UPI payment scams.
• Register a Cybercrime Report: File a complaint to the Cybercrime portal or visit the local police station.

How Can Surepass Technologies Help Prevent UPI Frauds?

Surepass is a trusted API service provider that includes services for Identity verification, KYC, UPI ID verification, etc. Businesses can prevent Fake UPI Payment fraud using the UPI ID Verification API. This API instantly detects fake UPI IDs and prevents the chances of financial loss. Using this API is quite simple

• Enter the UPI ID in the API as an input
• Receive confirmation status along with other details as an output.

This API also provides a bulk search option that helps verify the large volume of UPI IDs once and simplifies the verification process. 

Conclusion

UPI has indeed made transactions easy, but it is prone to UPI payment fraud. Many people lose their money due to Fake UPI Payment Fraud. To avoid being a victim of payment fraud, people can follow the prevention tips such as checking their UPI ID, screenshot, timestamp, etc. Businesses can avoid these frauds by using Surepass UPI ID verification API.

FAQs

How to Identify Fake UPI Payment?

You can detect a fake UPI payment by checking the transaction ID, and timestamp, carefully checking screenshots, etc.

How do you Check if a payment screenshot is real or fake?

Check the transaction details in the UPI app whether they match with screenshot or not.

How Do I report a fake UPI transaction?

You can report fake UPI transaction complaints on the NPCI website or in the UPI App.