Reserve Bank of India Warns Customers About New UPI Fraud Targeting Indian Banking Users

Mumbai, India — The Reserve Bank of India (RBI) has issued a fresh warning to customers following a surge in Unified Payments Interface (UPI) fraud cases reported across several states. The alert comes as cybercriminals adopt new tactics to trick users into authorizing fraudulent transactions.

According to banking officials, fraudsters are sending fake payment collect requests disguised as legitimate transactions. Many users mistakenly approve these requests, resulting in instant money transfers to attacker-controlled accounts.

How the Fraud Works

Cybercriminals typically contact victims through phone calls, WhatsApp messages, or SMS. They pretend to be bank officials, customer support representatives, or merchants.

Victims are told they will receive money, but instead they receive a “collect request.” When the victim enters their UPI PIN, money is debited from their account.

Cybercrime investigators say this confusion is the main reason many users fall victim.

Increasing Number of Victims

Several complaints have been registered in Maharashtra, Delhi, Karnataka, and Uttar Pradesh. Victims reported losses ranging from ₹5,000 to ₹2 lakh.

Banks have confirmed that most cases involve social engineering rather than technical hacking.

RBI सुरक्षा सलाह

The RBI has advised customers to follow essential precautions:

Never enter UPI PIN to receive money
Always verify payment requests carefully
Do not trust unknown callers claiming to be bank officials
Report fraud immediately to your bank

Expert Opinion

Cybersecurity experts believe the rapid growth of digital payments has created new opportunities for fraudsters.

They emphasize that UPI systems are secure, but user awareness is critical.

Conclusion

Customers must remain cautious while using digital payment platforms. Understanding how fraud works is the best defense against financial loss.