UPI Unified Payments Interface is a smartphone application based on real-time
Payment system present by National Payments Corporation of India. It provides the facility of the interbank transaction. This activity regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform. The website of National Payments Corporation of India the bank that provides the facility of UPI.
Recently, in Kerala, three bank customers account have been “hijacked” and all money is wipe out they only had one thing in common which is all link their account with UPI.As per the report.
Inspector General of Police Manoj Abraham, chief, Kerala Police Cyberdome said that this fraudulent activity is very complicated phishing trick. The victims suffer a lot due to this incident, they explain the whole incident.
The message appeared from the bank. The hackers used the phone number and account details of the victim to complete the activation of the UPI app. After this, they used “hijacked app” to transfer cash from one account to another. The hackers also tricked the OTP, debit card number, credit card number, bank id, and password. The police are investigating the whole activity to prevent a future incident. The cyber dome has traced the numbers used for the fraud.
Investigators said there are some phone payment apps and UPI is one of them that facilitated account to account transfers did not always notify customers of the digital transactions. The police department has conveyed this incident to Reserve Bank of India also requesting provide two-way passcode authentication and analysis of customer payment. In the case of UPI, services use more anti-fraud protection services.