“Excuse me, sir, could you transfer me Rs 1,000 via UPI? I will give you the amount in cash, just need the money for an emergency.”
If you’ve encountered such a request recently, especially in busy railway stations, crowded places of worship, tourist spots, or while traveling, exercise caution. A rising scam known as the ‘hard cash for UPI payment’ is targeting compassionate strangers. Reports indicate that scamsters thrive in busy locations such as temples, pilgrim centers, parking lots, and ATMs, preying on well-meaning tourists and pilgrims.
According to those who’ve fallen victim to the scam, it’s executed shrewdly. Arun*, who experienced such a request in Kochi, warns, “If they ask for a Rs 1,000 payment via Gpay, they will give you the same amount as cash but some of the notes will be counterfeit currencies.” Victims often find it challenging to confront scammers who quickly excuse themselves, saying, “I didn’t know it was a fake note.”
Similar scams were reported in Delhi a few months ago, though no cases have been registered so far in Kerala, according to authorities. The Ministry of Finance disclosed that over 95,000 fraud cases linked to UPI transactions were recorded in 2022-23, marking an increase from 84,000 incidents in 2021-22.
To protect yourself from UPI scams:
1. Think twice before obliging to requests from strangers.
2. Never share your UPI ID, as it could lead to unauthorized access.
3. Regularly change your UPI PIN.
4. Avoid using public Wi-Fi for UPI payments to prevent potential data breaches by hackers.
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