As UPI frauds net Rs 2,145 cr in less than three years, experts call for stronger laws against cybercrime

India’s Unified Payments Interface (UPI), hailed as a global benchmark for payment innovation, has revolutionised digital transactions with its seamless QR code and UPI ID system. A concerning rise in fraudulent activities has accompanied this rapid adoption.

In the ongoing financial year (2024-25) until September, people across the country reported losing a staggering Rs 485 crore across 6.32 lakh cases of UPI-related fraud, according to data given by Pankaj Chaudhary, Union minister of state for finance, in Parliament on November 25.