Beware of new UPI scam: Protect yourself from fraudulent income tax refund calls

In recent times, a new type of scam has emerged, targeting unsuspecting individuals through fraudulent income tax refund calls.

Scammers posing as income tax officers contact their targets, claiming to offer refunds for excess taxes paid.

The scammers employ convincing tactics, leading victims to believe their story.

They may promise refunds ranging from a few thousand rupees to lakhs.

However, it is essential to be aware of this scam and exercise caution to safeguard your finances.

The Deceptive Approach of Scammers

Scammers begin by posing as income tax officers and contacting their potential victims.

They convince individuals that they are eligible for a refund due to overpaid taxes.

To gain trust, they employ official-sounding language and may even mention specific tax-related details.

The scammers insist that victims register through a provided link and enter their bank details, including their UPI PIN (Unified Payments Interface Personal Identification Number).

They claim that the refundable amount will be instantly deposited into the victim's account.

This is a red flag, as sharing your UPI PIN or any other sensitive information is highly risky.

According to a report by India Today, a teacher based in Mumbai recently lost a substantial amount of approximately 80,000 rupees in a provident fund scam.

These cases serve as reminders that scammers are continuously evolving their techniques to exploit unsuspecting victims.

It is crucial to stay informed and adopt preventive measures to protect your hard-earned money.

Protect Yourself and Stay Safe

To shield yourself from becoming a victim of this UPI scam, keep the following points in mind.

1. Avoid sharing your OTP (One-Time Password), UPI PIN, or CVV (Card Verification Value) with anyone, especially through unsolicited calls or messages.
2. Always double-check the identity of the person contacting you, especially if they claim to be an income tax officer. Genuine tax authorities do not initiate refunds via phone calls or text messages.
3. Do not click on suspicious links sent by unknown individuals. Such links often lead to phishing websites designed to steal your personal and financial information.
4. If you encounter a scam or suspect fraudulent activity, report it immediately to the relevant authorities, such as the police or your bank.