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<ul><li>There has been an increase in <keyword id="43991" type="General" weightage="100" keywordseo="financial-fraud" source="Orion">financial fraud</keyword> amid an increase in financial transactions.</li><li>People are storing important financial information on their smartphones without any security.</li><li>88% of the people surveyed have submitted their Aadhaar as proof for applications and bookings.</li></ul> The Reserve Bank of India (RBI) has revealed that 5,406 instances of financial fraud were reported during April-September 2022, up from 4,069 reports during the same period in 2021. According to the central bank, the modus operandi for fraud has shifted to card and internet-based transactions. According to a survey conducted by LocalCircles, people are still storing important financial information such as internet banking passwords, and debit and credit card PINs on their smartphones. <cmsannotation type="cmsannotation" annotationid="17% of people store financial information on their smartphone" comment="subhead" text="17% of people store financial information on their smartphone">17% of people store financial information on their smartphone</cmsannotation> Out of over 32,000 people surveyed, 9% admitted to storing important financial information on their phone’s contact list, and 8% admitted using the notes app on their smartphone. This means that 17% of people store important data without security. A similar survey in 2021 revealed that 11% of people were storing important financial data on their phones, meaning there has been an increase in this number, despite attempts by the central bank to raise awareness among the people. 18% of the people revealed that they store financial information on their computers and laptops. At the same time, 14% of the people claimed that they had memorised their financial information and had yet to store it anywhere. <cmsannotation type="cmsannotation" annotationid="24% of the people share their debit and credit card PIN with family" comment="subhead" text="24% of the people share their debit and credit card PIN with family">24% of the people share their debit and credit card PIN with family</cmsannotation> According to the report, 24% of the people share their debit and credit card PIN with one or more family members, and 6% share with their domestic or office staff. 67% of the people surveyed said they do not share this information with anyone. <cmsannotation type="cmsannotation" annotationid="88% of the people share Aadhaar for applications and bookings" comment="subhead" text="88% of the people share Aadhaar for applications and bookings">88% of the people share Aadhaar for applications and bookings</cmsannotation> Identity and address proofs such as Aadhaar, PAN, driving licence and others have become something we often share with government or private entities such as banks and hotels for various applications and bookings, be it in digital form or as a photocopy. Sometimes, more than one of these documents is shared, and there is an overlap. A staggering 88% of the people have revealed that they have shared their Aadhaar as proof in the last five years. This was followed by 58% of the people sharing their PAN and 47% of the people sharing their driving licence. Additionally, 42% of the people shared their passports, and 35% shared their voter ID. <cmsannotation type="cmsannotation" annotationid="Nearly half of the people have faced a financial fraud" comment="subhead" text="Nearly half of the people have faced a financial fraud">Nearly half of the people have faced a financial fraud</cmsannotation> According to the report, 42%of the people surveyed have claimed to have faced some type of financial fraud during the three years between June 2019 to June 2022. Worse, 74% of these people failed to get their money back. We recommend that users do not store sensitive financial information such as banking passwords and debit and credit card PINs on their smartphones and laptops. Instead, users should opt for secure applications or try to memorise this information. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a> <a href="https://www.businessinsider.in/tech/news/google-makes-it-easier-for-users-to-delete-their-account-and-data-from-applications/articleshow/99289621.cms">Google makes it easier for users to delete their account and data from applications</a> <a href="https://www.businessinsider.in/tech/mobile/news/how-to-block-your-lost-or-stolen-phone-and-how-to-unblock-it/articleshow/99207569.cms">How to block your lost or stolen phone and how to unblock it</a>

Despite a rise in financial frauds, 17% of people store financial information on their smartphones

Leading fintech platform PhonePe on Wednesday announced it has enabled <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> activation using Aadhaar-based OTP authentication. PhonePe is the first UPI Third Party Application Provider (TPAP) App to roll out the Aadhaar-based UPI onboarding flow that will now enable several crore Indians to become a part of the UPI ecosystem, seamlessly and securely for the first time, the company said in a statement. Under the previous UPI onboarding flow, a valid debit card was mandatory to set up a user's <keyword id="4760578" type="General" weightage="50" keywordseo="upi-pin" source="Orion">UPI PIN</keyword> during the UPI registration process, restricting access for a large number of Indian bank account holders who didn't have a debit card handy. The addition of <keyword id="144117" type="General" weightage="80" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> onboarding for UPI will do away with this restriction, and allow previously under-served populations to experience the convenience and benefits of digital payments. "We are excited to be the first fintech platform to offer Aadhaar-based authentication for our users, making the UPI onboarding flows even more simple and inclusive. We believe this is a very progressive move by <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>, NPCI and UIDAI and is a great example of the digital financial inclusion that UIDAI's Aadhaar program has been able to drive," said <keyword id="12805030" type="General" weightage="50" keywordseo="deep-agrawal" source="Orion">Deep Agrawal</keyword>, Head of Payments at PhonePe. In the new flow, the Aadhaar e-KYC flow will be made part of the UPI onboarding journey on the PhonePe App. Users choosing this option will only need to enter the last 6 digits of their Aadhaar number to initiate the onboarding process. They will then receive an OTP from UIDAI, and their respective bank to complete the authentication process. Post this, customers will be able to access all UPI features such as payments and balance checks on the PhonePe App. "This will help expand the overall UPI ecosystem, and also onboard new customers to the digital payments fold. UPI has become a global exemplar, and countries across the world are looking to implement it. Going forward, we are closely working with NPCI to take UPI international," said Agrawal. With 41.5 crore registered users, one in four Indians is now on PhonePe. The company has also successfully digitised 3.3 crores, of offline merchants, covering 99 per cent of pin codes in the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pet-care-startup-supertails-com-raises-10-million-in-series-a-funding/articleshow/95406580.cms">Pet-care startup Supertails.com raises $10 million in Series A funding</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mt-autocraft-forays-into-evs-with-rs-100-cr-funding-to-hire-200-people/articleshow/95406616.cms">MT Autocraft forays into EVs with Rs 100 cr funding, to hire 200 people</a>

PhonePe first player to enable UPI activation with Aadhaar

<ul><li><keyword id="19795788" type="General" weightage="100" keywordseo="Quishing" source="Orion">Quishing</keyword> or the use of QR codes to steal money and personal information has been on a rise in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>.</li><li>Nearly half of UPI-related frauds in 2023 reportedly involved the use of QR codes.</li><li>Here’s everything you need to know about quishing and how to protect yourself from such scams.</li></ul>Digital payments have grown by leaps and bounds in India over the past few years, with unified payments interface (<keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword>) making it easier to pay on the go. While UPI has made payments easier, scammers have also kept abreast with technology to come up with new ways to defraud people. The latest deceit has scammers resorting to quishing to steal money, personal information and committing identity theft. <cmsannotation type="cmsannotation" annotationid="What is quishing?" comment="subhead" text="What is quishing?"><keyword id="19805899" type="General" weightage="20" keywordseo="what-is-Quishing" source="Orion">What is quishing</keyword>?</cmsannotation> You may have heard about terms such as phishing, card skimming, email spoofing and more. But quishing is a rising scam that involves the use of fake QR codes to redirect the user to a fake website or to steal information. According to a<a href="https://timesofindia.indiatimes.com/city/delhi/rise-of-quishing-the-threat-of-fake-qr-codes-for-financial-fraud-and-identity-theft/articleshow/106940852.cms"> report</a>, complaints related to UPI frauds have increased from 15,000 cases in 2022 to over 30,000 in 2023. Of this, nearly half of the cases reportedly involved QR codes It’s not just UPI, QR codes have been in use for a long time now, be it for sharing information about a product or sharing a digital menu at some restaurants. <keyword id="1011037" type="General" weightage="20" keywordseo="qr-code" source="Orion">QR code</keyword> frauds have also risen in countries like the US, with the Federal Trade Commission (FTC) issuing an<a href="https://consumer.ftc.gov/consumer-alerts/2023/12/scammers-hide-harmful-links-qr-codes-steal-your-information"> alert</a>, cautioning users about harmful links in QR codes. <cmsannotation type="cmsannotation" annotationid="Here’s how quishing works" comment="subhead" text="Here’s how quishing works">Here’s how quishing works</cmsannotation> In quishing, the scammer generally asks the victim to scan a QR code using the camera, which then redirects the user to a website created by the scammer. This website is generally an imitation of a genuine website, be it an e-commerce platform, a bank or other platforms that deal with important personal and financial information. Then, the website asks the user to enter their personal information or account details. When the user enters this information, the information is sent to the scammer, who can use this information to steal money or commit identity theft. In some instances, these QR codes also prompt the victim to enter their UPI PIN to send money. When the user enters their UPI PIN, the scammer receives it and can use it to steal money. Not just this, QR codes may also include malicious files, which are automatically downloaded when the user scans the code. This may infect the user’s smartphone and steal their personal information without them even knowing. <cmsannotation type="cmsannotation" annotationid="How to protect yourself from quishing?" comment="subhead" text="How to protect yourself from quishing?">How to protect yourself from quishing?</cmsannotation> Here are some steps you can take to protect yourself: <ul><li>Avoid scanning QR codes when you are not aware about who has placed it, especially in public areas which can be accessed by anyone. </li><li>Do not scan QR codes if you receive them from unknown people in a message or email. </li><li>Avoid scanning QR codes shared on social media, as they may contain malicious files. </li><li>When scanning a QR code that includes a link, inspect the URL before clicking on it. </li><li>If the QR code includes a shortened URL, avoid clicking on it unless you trust the source. </li><li>If a QR code leads you to a website, ensure that it is authentic and ensure it is not a phishing attempt. </li><li>Do not share personal information after you visit a website by following a QR code if you are not certain about its authenticity. </li></ul>Other scams you need to be aware about – <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scam </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">How it works </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Phishing </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Involves creation of fake websites to obtain personal and financial information. </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishing </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Involves the use of fraudulent phone numbers to obtain personal and financial information. </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharming </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">This involves redirection of users from a genuine website to a fake website. </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Smishing </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Involves use of text messages to obtain personal and financial information. </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Skimming </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Involves duplication of debit or credit card, allowing the scammer to steal money. </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s24-series-with-galaxy-ai-debuts-starting-79999/articleshow/106947200.cms">Samsung Galaxy S24 series with Galaxy AI debuts starting ₹79,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-beats-samsung-for-the-first-time-since-2010-tops-global-smartphone-shipments/articleshow/106922358.cms">Apple beats Samsung for the first time since 2010, tops global smartphone shipments</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-with-the-snapdragon-8-gen-3-launch-in-india-on-jan-23-everything-we-know-so-far/articleshow/106691383.cms">OnePlus 12 with the Snapdragon 8 Gen 3 launch in India on Jan 23 – everything we know so far</a>

Quishing on the rise – Be alert while scanning payment QR codes

<ul><li><keyword id="9462167" type="General" weightage="20" keywordseo="google-pay-transactions" source="Orion">Google Pay transactions</keyword> are supported by a ‘Unified Payments Interface’ or ‘UPI.’</li><li>Google rebranded Tez as <keyword id="2750705" type="General" weightage="20" keywordseo="google-pay" source="Orion">Google Pay</keyword> back in 2018.</li><li>Here’s how you can change your <keyword id="14270568" type="General" weightage="20" keywordseo="upi-pin-in-google-pay" source="Orion">UPI PIN in Google Pay</keyword>.</li></ul>Google was the first to introduce a UPI-based payment system - ‘Tez’ back in 2017. On August 28, 2018, the company rebranded it to ‘Google Pay.’ UPI comes with a series of features including self-transfer, balance check, payment via QR code scanning, and more. Google pay is one of the most used payment apps in India. Also known as GPAY, it lets you make all types of online payments. Every transaction done on Google Pay is secured by a <keyword id="4760578" type="General" weightage="20" keywordseo="upi-pin" source="Orion">UPI pin</keyword>. When you make any transaction on Google Pay, you need to enter 4 digit code to allow bank transactions. This UPI pin is set when you are creating your Google Pay account. But if you have forgotten your UPI PIN or need to change it because of security concerns, here’s how you can change it. <ul><li>Launch the Google Pay app and tap on your display picture located in the top-right corner of the app.</li></ul><div type="image" title="Google Pay" msid="92411357" hostid="261" sizebytes="16502"></div><ul><li>Tap on the bank account option and select the bank account to which you want to make the changes.</li></ul><div type="image" title="Google Pay" msid="92411378" hostid="261" sizebytes="22234"></div><ul><li>Once you select the bank account, on the top right corner of the screen you will see the three-dot menu, click on it and it will show a drop-down menu.</li></ul><div type="image" title="Google Pay" msid="92411423" hostid="261" sizebytes="23910"></div><ul><li>From the drop-down menu select ‘Change UPI PIN.’</li></ul><div type="image" title="Google Pay" msid="92411447" hostid="261" sizebytes="26270"></div><ul><li>Now enter your old UPI PIN and then the new one twice.</li><li>Once done, you are good to go.</li></ul>If you end up entering the wrong UPI PIN more than three times, you have to wait 24 hours to reset the UPI PIN. Also, if you want to change your UPI ID, follow these steps- <ul><li>Open the Google Pay app and tap on your display picture.</li><li>Tap on payment methods and then tap on the bank account whose UPI ID you want to change.</li><li>Tap on the UPI ID and then tap on ‘+’ to change the UPI ID.</li></ul><div type="image" title="Google Pay" msid="92411514" hostid="261" sizebytes="9536"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/5g-in-india-does-the-aam-aadmi-even-need-it/articleshow/92382529.cms">5G in India – does the aam aadmi even need it?</a> <a href="https://www.businessinsider.in/business/auto/news/ev-fires-will-happen-says-olas-bhavish-agarwal-after-tata-nexon-ev-fire-reports/articleshow/92406258.cms">EV fires will happen says Ola's Bhavish Agarwal after Tata Nexon EV fire reports</a>

How to change UPI pin in Google Pay

<ul><li>Now, users can make <keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> payments using <keyword id="597447" type="General" weightage="80" keywordseo="rupay" source="Orion">RuPay</keyword> credit cards on <keyword id="2750705" type="General" weightage="20" keywordseo="google-pay" source="Orion">Google Pay</keyword>.</li><li>At present, there is no option to add Visa and Mastercard-issued credit cards to Google Pay.</li><li>We tell you how to add your RuPay credit card to your Google Pay.</li></ul>Google Pay, in association with the <keyword id="6383340" type="General" weightage="50" keywordseo="national-payments-corporation-of-india" source="Orion">National Payments Corporation of India</keyword> (NPCI), on Tuesday rolled out support for RuPay credit cards on Unified Payments Interface (UPI). With this, users can now link their RuPay credit cards with Google Pay to make payments at all online and offline merchants where RuPay credit cards are accepted. Customers with RuPay credit cards issued by Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank and Union Bank of India will be able to avail this feature. Until the latest update, UPI-based payment app Google Pay, like most payments apps, only supported payments using a debit card. Now, users can add their RuPay credit card and make payments seamlessly to merchants across the country. At present, there is no option to add Visa and Mastercard-issued credit cards to Google Pay or any other UPI payment app in India. To link a RuPay credit card to Google Pay, follow these steps: <ul><li>To get started, open the Google Pay app and navigate to the settings menu.</li><li>To proceed, select the ‘<keyword id="17501077" type="General" weightage="50" keywordseo="setup-payment-method" source="Orion">Setup Payment Method</keyword>’ option in Google Pay and choose to add a RuPay credit card.</li><li>Enter the required details such as the last six digits of the card, the expiry date, and the PIN.</li><li>You will need to verify the details by entering the OTP (One-Time Password) sent to your registered mobile number.</li><li>Now, when making a payment to any UPI vendor, you can select your RuPay credit card as the payment method. This can be done by either scanning the barcode provided by the vendor or by entering the UPI ID or phone number associated with the recipient.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

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Despite a rise in financial frauds, 17% of people store financial information on their smartphones

Sourabh Jain

PhonePe first player to enable UPI activation with Aadhaar

IANS

Quishing on the rise – Be alert while scanning payment QR codes

Sourabh Jain

How to change UPI pin in Google Pay

Rahul Verma

Here’s how to add your RuPay credit card to Google Pay

Rahul Verma

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