Scammers impersonate bank officials, police, or customer care representatives to lure people into sharing their sensitive information. Common tactics include creating a fake emergency, tricking people with promises of prize money, or claiming they need to fix bank accounts due to security risks or fraudulent activity. Victims are persuaded to share their personal information, such as bank or debit card details, OTPs and UPI PINs.

Scammers often send fake UPI payment screenshots to individuals, pretending the payment was sent by mistake. They then call the victim, urging them to return the money, creating a false sense of urgency to prevent careful verification. This tactic affects both merchants and individuals. In busy retail environments, scammers trick merchants into providing goods or services without actual payment using fake screenshots. Similarly, in cash-for-payment scams, fraudsters request cash urgently and present fake payment proofs as evidence of an online transfer.

A fraudster usually deceives the person into scanning a fake QR code with their phone, which redirects them to a fake e-commerce or bank website. The user is then asked to enter personal information, such as their name, bank details, or login credentials. Scammers use this information to steal money or commit identity fraud.

The age-old phishing scam involves sending fake emails to steal your personal and sensitive information. Once you enter your login credentials on the fake website, the scammers get your information right away and can use it to commit fraud.

Scammers can control your phone through screen-sharing apps and can easily make transactions without your permission. They can steal sensitive information like UPI PINs, OTPs, and other personal/ private details. It is therefore not advisable to download any app while you are on a call with an unknown person.

Cyber criminals often use malware to extract sensitive data of innocent users. It mostly reaches people’s devices through unsecured websites, fake apps, and emails attachments or links. Fraudsters can copy data, carry out financial transactions and even steal identities of unsuspecting individuals.

When scammers pull a scam, they need a safe place to keep the stolen money. For that, they use the accounts of innocent people to park the money and move when needed. That account becomes a money mule, a place from where fraudsters can transfer the money to other accounts. This makes it very hard for cyber police to trace the money. You can become a money mule by accepting fake job offers, loans or grants, or help a friend whose identity is stolen. In all the scenarios, an unsuspecting user receives the money willingly. They  unknowingly help a scammer carry out their scam but never actually get to use the money.

SIM cloning or duplicating a SIM has become a common scam after OTP was mandated by banks. Once your SIM is cloned, it becomes easier for the scammers to get OTPs and change UPI PINs. Scammers can steal identities, bank details and take over your social media profiles. They can also demand money from your friends and relatives under false pretences.

Scammers are deceiving people into approving fake collection requests. It might look like a genuine payment you need to do but it goes to a fraudster's account. People end up approving such requests in a state of urgency, lack of awareness, or confusion. Scammers make it really hard for people to differentiate between a real payment request and a fraud one.

Scammers usually call people and impersonate the representatives of a bank, telephone company, police, or hospital. They try to convince individuals by stating their full name and address and then ask for further verification of their phone number and date of birth. It’s an elaborate scheme where the scammers gain trust by sharing some of your information and seek to obtain other sensitive details that they currently don’t possess. Once they have it all, running a scam is an easy step from there. 

Scammers usually fabricate a story involving either a technical issue with your bank or a false narrative convincing you that a loved one is in trouble. And to resolve these issues, they will ask for your personal details.

Once fraudsters are convinced that the victim is fully under their control, they will ask the person to download an app. These are usually screen-sharing apps that request various permissions. If you grant these permissions without reading them carefully, scammers will be able to fully control your phone and access sensitive information.

When the scammers have control over your phone, they can change your UPI PIN and initiate 2-factor authentication, making it impossible for you to gain access to your account.

One of the simplest ways to protect yourself from scams is to know that no bank, police, or government authority will call and ask for your personal details. If an unknown caller is requesting this information for any reason, it is a scam.

Truecaller lets you easily check unknown numbers. If it's a scam, the app will flag it.

Whether you're accepting or sending a payment request, take your time. Always double-check the details. Also, regularly checking your bank accounts can help avoid any unexpected surprises.

Scammers create fake apps that look similar to a bank app and upload them to Google Play Store. If you download a fake app by accident and allow permissions, it enables the scammers to steal your personal information. Before you download an app from Google Play Store (or other sources), take note of the name of the app's developer and if anything seems suspicious, don't download it.

Under no circumstances should you share your UPI PIN with anyone. Always use apps that require biometric authentication for accessing the UPI app. It’s also recommended to use a good antivirus to regularly check for malicious software.

Accessing UPI apps and bank apps over a public or password-less Wi-Fi network is a risky affair. It is one of the most common ways hackers access your data.