Hyderabad: Small traders, street vendors targeted in UPI fraud

Hyderabad: A new wave of cyber fraud is targeting small businesses in Hyderabad, as miscreants have devised a scheme to pilfer digital payments through QR codes.

The scheme involves fraudsters pasting their own UPI QR codes over the legitimate ones displayed by vendors. This results in unsuspecting customers sending payments directly to the fraudsters’ accounts instead of the intended businesses.

The fraud has been discovered in various parts of Hyderabad, with many vendors falling victim to this deceptive tactic. The scheme not only impacts the businesses financially but also erodes customer trust in digital payment methods.

Authorities have urged the public and small business owners to remain vigilant against such fraud. Business owners are advised to frequently check 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 transaction confirmations can provide an extra layer of security by audibly verifying payment recipients.

The police are actively investigating the cases and working to apprehend those responsible.

In the meantime, staying aware and taking precautionary measures can help protect against these fraudulent activities. By implementing these safety tips, both customers and business owners can safeguard their financial transactions from cybercriminals.

Safety tips

1. Double-Check Details: Always verify the name and details on your payment app before making a transaction.
   
2. Inspect QR Codes: Business owners should regularly check their displayed QR codes for any signs of tampering.
   
3. Use Transaction Confirmations: Consider using a speaker for audible transaction confirmations to ensure payments are going to the correct recipient.
   
4. Report Suspicious Activity: If you suspect a QR code has been tampered with, report it to the authorities immediately.