'20 thousand rupees have been transferred to your account by mistake, please return it...' What is a UPI Overpayment Scam?

UPI Overpayment Scam: UPI overpayment scam is a type of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital fraud in which scammers send you a small amount and demand more money from you. You return the money under pressure

What is a UPI Overpayment Scam: As the era of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital payment is increasing, the cases of UPI fraud are also increasing continuously. Fraudsters adopt new tricks to trap innocent people in their net and try to extort money from them. According to the annual report of the Reserve bank, 36 thousand 75 cases of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital payment fraud have been reported in the financial year 2023-24, which were 9 thousand 46 in 2022-23. If you are also a UPI userthen you need to be very careful because a big scam is going on these days. The name of this scam is 'UPI Overpayment Scam'. Let's know what this scam is and how to avoid it.

What is a 'UPI Overpayment Scam'?

Imagine you are working in the office in the middle of a hectic day and suddenly you get a call and the person on the other end tells you that he has sent you 20 thousand rupees by mistake and he is in the hospital. He says that pleasereturn my money immediately because there is a medical emergency in his family. 200 rupees have been sent to you on his behalf. The scammer pressurizes you so much that you open your UPI payment and see that money has come into your account, but that money is not 20,000 but 200.00. This is a common mistake that you make in a hurry. 

When you are free during lunch break and check your account balance, you find that you understand the whole game. Now you realize that you have become a victim of a scam.

How can we save ourselves?

Kunal Verma, co-founder, and CEO of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking platform Freo, says that this scam is being seen a lot these days, in which the fraudster sends you a small amount and asks for a bigger amount. After this, the scammer calls the victim and asks for the money and tells him that he has received this money by mistake, there is a medical emergency, please return it...

Kunal further says that innocent people fall for scammers. These scams are increasing because people are often busy with their work and do not investigate it. But you need to be very careful. Whenever you get any such call, investigate it immediately. There is no need to hurry in anything.

If you think that this is a scam, then immediately complain to your bank and the UPI app provider. Apart from this, you can also report to the National Payments Corporation of india and Cyber Cell.