Increasing UPI Scam in the country

With the rapid growth of digital payment transactions in India, UPI (Unified Payments Interface) frauds have become alarmingly frequent. According to the Reserve Bank of India’s Annual Report for FY 2023-24, the number of digital payment fraud cases soared to 36,075 from 9,046 in the previous fiscal year. Despite this significant increase in the number of fraud cases, the total monetary loss from such frauds decreased from ₹45,358 crore to ₹13,930 crore.
#UPIScams #DigitalFraud #securetransactions #onlinesafety #cybersecurity #FraudPrevention #financialsecurity #UPIAlert #digitalpayments #FraudAwareness #cybercrime #staysafeonline #paymentsecurity #phishingscams #protectyourmoney
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The number of digital payment fraud cases increased by nearly four times, highlighting a rising trend in fraudulent activities as digital transactions become more widespread.