UPI and modes of digital transactions have made our lives easier. Just like sending an SMS or using instant messaging apps, users can initiate money transfers to any bank account within seconds. Digital payments and online banking are easier, faster, and even safer. But on the flip side, it has also increased the rate of online fraud. Over the last few years, cyber frauds through phishing links,vishing calls, and more have significantly increased. Scammers are finding new ways to trick and fraud people. One such fraud which is not new but still making people fall for it is the QR code scam.
Many people reportedly fall victim to QR code scams where fraudsters clean their bank accounts using a QR code. Even India Today Tech team members came across an incident where a person tried to trick and asked to send money using a QR code. So, when our team member listed an item on OLX, a user agreed to purchase the item at the same price as listed. To take further the process, the user immediately asked for the UPI ID, bank account to initiate the payment. While it was already suspicious, as he didn't come to see the item nor did he bargain. What rang the alarm was that he sent a QR code on WhatsApp with the amount written on it and asked to scan it to receive the payment. Meanwhile, he also constantly called and messaged to complete the process soon.
While sending money using a QR code is not new or a problem, the catch here was that the sender was asking the receiver to scan the code and enter OTP to receive money. Luckily, our team members figured out that it was a scam, and many innocent people often fell for it. You can read more about the incident here
So, what is exactly a QR code scam, and how does money get deducted as we scan QR codes on daily bases to send money?
What is a QR code scam
So, what these fraudsters do is, they try to convince people that they are sending them the payment through QR code. And the receiver needs to scan the code and enter the amount they want to receive and then enter OTP. Notably, QR code is only scanned to send money and not to receive money. So, when people scan someone's QR code under the pretext of receiving the money and enter OTP, the money gets deducted from their account instead of the sender.
And here the constant calling which happens in case of your team members often misleads people and they don't think twice about evaluating the situation. They ignore the red flags and warnings and fall victim to fraud.
To avoid such fraud, here are some important points one should take note of-
How to prevent QR code scams
Never share your UPI ID or bank account details with people who do not know.
If possible, you deal with cash if you are selling something on OLX or other sites.
Never ever scan QR code if you are receiving an amount.
Even when sending money always cross-check the details shown by the QR code scanner.
Avoid scanning a QR code if it looks like a sticker covering another QR code.
NEVER SHARE OTP with anyone. OTPs are confidential numbers and you should treat them like that.
Always verify the identity of the person on an online website if you are selling or buying anything.
Try not to share your mobile number too if not needed.
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