Phishing to QR code scam: Key steps to avoid some common UPI-related frauds

UPI (Unified Payments Interface) has become an integral part of daily transactions in India, yet with its increasing popularity, so have UPI frauds. According to the latest NPCI data, UPI reached a new milestone in January 2025, recording 16.99 billion transactions with a total value of Rs 23.48 trillion.

According to RBI data in FY 2023-24, banking sector-related fraud cases surged by nearly 300 per cent, reaching 36,075 cases.