UPI Account Fraud and Sim Swap Fraud | Upi account hack and SIM hack एेसे होते हैं | कैसे बचाये?

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UPI Account Fraud and Sim Swap Fraud | Upi account hack and SIM hack एेसे होते हैं | कैसे बचाये?

UPI ID (also called Virtual Payment Address or VPA) is a unique ID you need to create in order to send and accept money via UPI . Once a UPI address is created and mapped against your existing bank account, you can simply share your UPI address (eg. abc@paytm) with the payer. Once the payer enters your UPI address and sends the money, it will be directly credited into your bank account.

Let us assume hat the victim had linked his mobile number with his bank account and the fraudster cloned the SIM card and did the banking transactions with the UPI app, the victim should have outage of his mobile connection. However, since the fraud is said to have happened over a period of time, the victim certainly has been negligent. Also, currently, the UPI application developed by the National Payment Corporation of India limits the maximum amount to Rs 1.00 lakh per transaction. This means that at least 7 transactions might have happened.

Also, “since only bank to bank transfer is permitted, it would be easy to trace the bank account to which the money was transferred. However, if the victim had shared the critical personal information and the fraudster had opened one more bank account in the name of the victim in the same branch (as the security level is somewhat lower) and transferred the funds to the new bank account and from there had withdrawn the funds by cash, then the matter would get a little complicated.

Moreover, if someone’s mobile number is not linked with his bank account, then there are various options for updating the new mobile number, but accessibility to personal information is a must. For example, information about ATM Pin, debit or credit card etc is a must. While there have been cases of leakage of personal information by hacking the security system, but many times, it is the victims themselves who have been responsible for providing or sharing such information.

Keeping all these facts in mind, “the claim of the victim on the bank will get jeopardized if the mode of receiving the banking transaction details is monthly automated statements and the bank has sent such monthly bank statements to the victim on time. In such a case if the victim has not reported to the bank about the unauthorized debits within the specified time lines, which in case of most of the banks is 14 days or less, the claim on bank will certainly be challenged. Assuming that the victim has opted for only the bank passbook and if the same was not updated for the period under consideration

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