NPCI warns public against text message fraud

STC NEWS DESK
SRINAGAR, JULY 31 (STC): National Payments Corporation of India (NPCI) has appealed to the public to be cautious of financial frauds through text messages. “Nowadays many financial frauds start with a simple SMS, through which they are forced to take immediate action by creating fear, urgency, greed or curiosity in the consumers,” said the agency.
According to the NPCI, such frauds usually use social engineering, in which fraudsters take advantage of human emotions and trust rather than technical methods. The fake messages often appear to be sent by a bank, government agency, delivery company, telecom service provider or a reputable organization so that the user thinks they are genuine and takes action. The agency said that through text message fraud, fraudsters try to convince users to click on fake links, call fake customer care or helpline numbers, download unknown apps or files, share sensitive information like OTP, UPI PIN and password or transfer money to an account.
According to NPCI, some fake messages tell users that their bank account is about to be closed or that there is a problem related to money, while some messages lure them by offering prizes, rewards, cashback or refunds. The main purpose of such messages is to make a hasty decision without giving the user a chance to confirm. NPCI has advised users to read any SMS carefully before acting on it and verify the information through the official website, official app or customer care of the concerned agency. Apps should be downloaded only from trusted sources and official app stores while clicking on links in unexpected or suspicious SMS should be avoided.
The agency specifically warned that OTP, UPI PIN and password should never be shared with anyone. If an SMS claims to have deposited money in the bank account, then the amount should be verified through the bank account statement instead of trusting the message alone. It has also been instructed to exercise caution while granting permissions to any app and to provide only the necessary permissions. NPCI said that suspicious messages should be kept safe, their screenshots should be taken and records of the relevant conversation or interaction should also be saved so that this information can be helpful to the relevant authorities when filing a complaint if necessary.
NPCI urged the public to be cautious during digital payments and to first verify any suspicious message completely instead of reacting immediately.
(Straight Talk Communications)