QR Code Scam: Nowadays, bank account holders across the country are witnessing a massive rise in the online banking fraud-net banking, UPI fraud, etc. Top banks like State Bank of India (SBI), HDFC Bank have issued an advisory for its customers about increasing bank fraud cases and asked them to take precautions. The fraudster is always on the prowl looking for some loophole in the security systems of banks to loot customers.
Till now, scammers tricked a lot of customers through net banking scam, credit/debit card scam and also UPI banking fraud. Now, they are looting customers hard-earned money via QR code scam.
Digital payment facility has its own convenience but there are some risks involved in the process that can't be ignored. Some of the fraudulent practices include Identity Theft, Phishing, Cloning, Smishing and Vishing. Fraudsters have tricks to fool people in multiple ways and in this case, WhatsApp users could be at risk.
Recently, State Bank of India (SBI) issued a warning to all of its online banking customers to avoid public charging kiosks as hackers loot their money from bank accounts.
WhatsApp Messenger is used by people on large numbers. Whatsapp's dominance in the messaging space makes it an ideal target for fraudsters to carry out scams.
QR code Scam:
Fraudsters are trying to loot bank account holders money from unsuspecting people by sharing their QR codes. They usually approach people who have posted an ad to sell an item online. Taking advantage of the situation, fraudsters are stealing money involving the QR code scam.
How does QR code scam work?
The fraudster asks for the seller's bank account information to send the money. Then, they share a QR code over Whatsapp to receive money in their account. And this is the moment when customers get TRICKED.
Fraudsters would send a collect request and simply by scanning and entering the PIN, the victim approves the request to pay the money and the money is deducted from the bank account. Customers use Paytm, PhonePe, and others wallets for UPI banking. These apps UPI-based interoperable QR code which allows users to pay merchants by scanning any QR code.
Banking Tips: It is advised to bank account holders to pay attention to every details related to banking or you will lose money in a jiffy.
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