Digital Payments & Fraud Explained | Stay Safe Online | UPSC | NEXT IAS

Welcome to the Science & Tech series. Digital payments have made transactions faster and easier—but they also come with risks. Even though fraud rates appear small, the sheer volume of transactions means losses can run into thousands of crores. In this video, understand how digital payments actually work—from initiation and authorization to final settlement—and where vulnerabilities can arise at each stage. Learn about common fraud methods like phishing, vishing, and social engineering, where users are tricked into sharing sensitive details like OTPs and PINs. Also explore the safeguards being used today, including AI-based monitoring, two-factor authentication, tokenisation, and device binding. The key takeaway—technology is secure, but user awareness is the strongest defence. Stay informed and stay protected.

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Видео Digital Payments & Fraud Explained | Stay Safe Online | UPSC | NEXT IAS канала NEXT IAS