Saturday, December 2

UPI fraud between April-22 to February increased by 13.20%

New Delhi | Frauds related to digital payments through UPI have increased year on year. So far in the current financial year i.e. from April last year* to February this year, such complaints have increased by 13.20%. In comparison to this, such cases had increased by only 9% in the last financial year. According to the information given by the government in Parliament, 95,402 cases of UPI fraud were reported till February in the financial year 2022-23. In the last financial year, 84,274 such cases were reported. In comparison, 77,299 such complaints were registered in the financial year 2020-21. Minister of State for Finance Bhagwat Karad told the Rajya Sabha, ‘National Payments Corporation of India has said that the UPI ecosystem has inbuilt security features. Even ordinary users are being cheated.

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