The festive season brings more than just shopping discounts and special offers. It also creates opportunities for cybercriminals to exploit consumers who are making frequent digital payments, tracking deliveries and responding to promotional messages.
\n\nFake cashback offers, tampered QR codes, phishing links and impersonation of trusted brands are among the methods used to trick shoppers into transferring money or sharing sensitive financial details.
\n\nThe growing use of artificial intelligence (AI) has made some of these attempts harder to identify, with fraudulent messages resembling genuine brand communications.
\n\nHow festive-season payment scams work
\n\nOne common method involves sending QR codes through WhatsApp or other messaging platforms, promising cashback, refunds, Diwali bonuses or gift hampers. Users are asked to scan the code and enter their UPI PIN to receive the money.
\n\nHowever, entering the PIN authorises a payment, resulting in a debit from the user's account.
\n\nAnother method involves placing fake QR-code stickers over genuine merchant codes at shops, diverting payments to fraudsters.
\n\nPhonePe has cautioned consumers against such scams, reiterating that a UPI PIN is required to send money, not receive it. Users should verify the recipient's name and transaction amount before authorising payments.
\n\nFraudsters also exploit the volume of promotional emails…
Original source: https://www.cnbctv18.com/technology/
