Phone Pe is an application which run on UPI technology which means we can able to deliver money to someone on their virtual payment address ( VPA) without knowing their account details but this technology is coming with so many drawbacks like Cyber Fraud. Cyber Fraudsters are using Request money option in Phone Pe to take money from anyone fraudulently. Fraudsters sending QR codes to whatsapp and asking us to scan that QR code to credit money but it actually debit money from victims bank account. Second biggest fraud is that Fraudster are generating UPI link, sending that links to anybody and asking people to forward those link to some specific mobile number. Once we forward that link then our whole banking details got hacked by Fraudster with the help of phone pe. Fraudster are also using some google forms to get details like your UPI PIN. In Corona there are thousands of frauds happening every day by weak UPI technology of Phone Pe.
I also lost ₹; 17162 in March month in cyber fraud. Bank, Cyber Cell, RBI, Police, Online Portals, Phone Pe have done nothing and simply closed my all complaints. I recovered nothing from bank side.
This companies are giving small cashback to attract major mass of people and in return they are helping Fraudsters of Jamtara University to do cyber frauds in lakh every day.
Simply don’t use any third party apps which are running on UPI based technology otherwise you can able to become next victim of cyber UPI fraud.