Hyderabad: Small traders and street vendors targeted in UPI fraud

A new wave of cyber fraud is sweeping through Hyderabad, targeting small businesses and street vendors. Fraudsters have devised a scheme to steal digital payments by tampering with UPI QR codes.

The scam involves fraudsters placing their own QR codes over the legitimate ones displayed by vendors. As a result, unsuspecting customers send their payments directly to the fraudsters’ accounts instead of the intended businesses.

This fraudulent activity has been detected in various parts of Hyderabad, with many vendors falling victim to the scheme. The financial impact on businesses is significant, and customer trust in digital payment methods is being eroded.

Authorities' Response and Public Advisory

Authorities have issued a public advisory urging vigilance against such fraud. Business owners are advised to frequently inspect their QR codes to ensure they have not been tampered with. Customers should double-check the details on their payment apps before completing any transactions. Additionally, using speakers for audible transaction confirmations can provide an extra layer of security by verifying payment recipients.

The Hyderabad police are actively investigating the cases and working to apprehend those responsible. In the meantime, awareness and precautionary measures are crucial in protecting against these fraudulent activities.

Safety Tips:

Double-Check Details: Always verify the name and details on your payment app before making a transaction.

Inspect QR Codes: Business owners should regularly check their displayed QR codes for any signs of tampering.

Use Transaction Confirmations: Consider using a speaker for audible transaction confirmations to ensure payments are going to the correct recipient.

Report Suspicious Activity: If you suspect a QR code has been tampered with, report it to the authorities immediately.