Don't fall into the trap of Fraudsters - Make your digital payment secure through Yuva Pay

Prashanth Naik (07 October, 2020)

In the current situation covid-19 pandemic, has put bump back on paying distantly and cautiously. it has also enhanced the practice of digital payment for people, digital payment apps like Yuva Pay have made people's lives easier and this does not require people to go out of the house or stay in long queues to pay any bills(DTH, Mobile prepaid and postpaid and prepaid recharge bills , EMI, Insurance, Gram panchayat bills, Electricity bills, LPG etc..). Using Yuva Pay app, one can make payment for their utility bills and send or receive the amount from the comfort of home. Mobile payment app is very safe, it saves our time but at the same time using these apps are little risky too. There are many online scammers who have invented new techniques to earn money by cheating people's hard-earned money, everyone should beware of fraudsters in the way we have changed to adopt a digital payment app to take security measures.

We must be careful from getting deceived by online perpetrators, here is some information on various types of scams.

  • Unauthorized Transactions
  • When you post any of your products on social media for the purpose of selling it, the scammers are going to grab this as their opportunity to make money. They act like interested in buying your product and sends a message with link containing the quoted amount, they will collect all your bank details when you open the link they sent. Your money will be stolen from them once they succeed in finding your bank details.

  • Fake calls
  • In this scenario you will get a call from fraudsters, and they going to portray themselves as bank representatives and they will script a story that your card has been blocked due to some issues so that you can’t do any transactions in mobile payment application, they give you fake assurance that they are going to fix it in call for that they need your card details, once you update your card details to them, You receive a message from the bank that your account has been debited, which means they have robbed your amount by fooling you.

  • Screen sharing
  • When you post any questions or problems related to digital transactions on social media with a mobile number linked to your bank accounts, hoaxers can easily know that you have some issues with using the mobile payment app. They will call you and pretend like customer care representatives of the company and ask you to download a screen sharing app like Any desk, Team viewer and then they will instruct you to hold your debit/credit card in front of Camera for the verification purpose. Here hoaxers attempting to collect your card numbers. once they have done these procedures, they will receive an OTP SMS from the phone to transfer money to their own account.

  • KYC fraud
  • In this context scamsters sends you a message with fraud link and ask you to update your KYC, if you enter your account details and the received OTP, you will get a messages from your bank notifying about debits in your account which means the scamsters have succeeded in hacking your account.

    OR

    The scamsters will call you, once you receive their call the caller will ask you that have you done your KYC? if not, they will explain you in detail about the importance of KYC. they will tell you that they are going to do your KYC through phone in exchange of small fee, here caller will ask you to download ANYDESK screen sharing app, in this moment they will tell you to pay their service fees when you started paying their fees they can easily collect your bank details with the help of screen sharing app.

  • Cashback Fraud
  • The fraudsters act as a representative of the mobile payment company and tell you that you are entitled to a cashback. Here they will send you payment request, once you click on the pay option the next step is to enter the pin. If you follow these procedures fraudsters are easily top up your money into their wallet.

Here’s some security tips to prevent fraud and enjoy the benefits of digital payments:

  • Don’t enter your T- pin for an unauthorised transaction.
  • Don’t share your Bank card details with anyone.
  • Don’t post regarding your failure transactions or bank details in third party app like social medias.
  • Don’t share your bank details, debit/credit card details with any one through calls.
  • Don’t share your screen with anyone by using screen sharing application.

Despite of any security measures, there are fraudsters who have invented new ways to hack your bank details, so we need to be aware - Yuva Pay is an ingenious mobile payment application that works with or without internet connection, can be used on smart and feature phones, which is highly Secured with OTP, T-PIN & End to End Encryption.