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Arcane

Hey, I'm on Medial • 1y

ONE INTERESTING OBSERVATION SERIES DAY #2 With the surge in digital payments, UPI has become the most popular payment method in India. However, it's also the most targeted by fraudsters. In 2022, UPI accounted for a staggering 55% of all fraud cases!! The twist is while UPI sees the highest volume of fraud, the majority of these incidents involve lower amounts. In fact, 50% of UPI fraud cases are for transactions under ₹10,000. Although UPI fraud is common, the financial impact per incident is relatively low compared to other payment methods :)

10 Replies

Replies (10)

PRATHAM
•

Medial • 1y

As it is simple to use and is operated by a large margin of people, so fraudsters must go with the flow to do scams 👀

1 Reply

Havish Gupta

Figuring Out • 1y

Even fraudsters had to adopt to new tech to continue their job 😜

1 Reply

Udyamee

Baki sab thik ? • 1y

What are the reasons for 50% of UPI fraud cases under 10,000 rs?

1 Reply

Anonymous 2

Hey I am on Medial • 1y

Interesting psychological aspect here. People might be more careless with smaller amounts, giving fraudsters an easy target. Classic behavioral economics at play.

1 Reply

Anonymous 1

Hey I am on Medial • 1y

The 50% under ₹10,000 stat is eye-opening. Fraudsters are playing the volume game, banking on people being less vigilant with smaller amounts. This screams for better user education. Most UPI fraud probably relies on social engineering rather than technical hacks. We need to teach digital literacy

1 Reply

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