QR codes are rapidly been adapted to make payments and have certainly become a cornerstone of digital payments in the Indian market. It is being used everywhere from street vendors to luxury malls. However, as their use has upscaled in the Indian market, several scammers are adapting the way of using fake QR codes to defraud unsuspecting users.
Here's how you can protect yourself from QR code fraud and verify if they are authentic, before making the payments.
QR Code Fraud on the rise
Recently, a case in Madhya Pradesh surfaced which highlighted scammers' new strategy for exploiting customers with QR codes.
- Fraudsters replaced legitimate QR codes at shops and petrol pumps with fake ones.
- When customers scanned these fake codes, their money was redirected to the scammers’ accounts.
- This fraudulent method can also steal your payment details, putting you at further risk.
How to identify fake QR codes?
1. Use a sound box for verification: One must use a sound box which notifies with a tune and loud sound. Merchants can use these sound boxes that announce payments received. In case if the money is credited, the sound box will confirm immediately, hence will ensure the QR code is legitimate.
2. Verify the name on the QR code: I always do it, and everyone must! Always check the name displayed after scanning a QR code. Cross-verify will not harm, and once confirmed with the shop owner or recipient before completing the transaction to ensure it matches.
3. Scan QR codes with Google Lens: If you are unsure about a QR code, then it is suggested to scan it by using Google Lens or similar apps to which you have access on the phone. This will show the user whether the code is redirecting or not- which would help you to detect suspicious links.
Tips to stay safe from QR code fraud/scams
- Avoid scanning QR codes from unverified or suspicious sources.
- One must always regularly monitor your bank account for unauthorized transactions.
- Use secure payment apps with built-in fraud detection features.
- Report any fraudulent QR codes to local authorities or your bank.
- Always confirm with the users about the QR code (registered name)
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