The Deccan Chronicle reported:
Cybercriminals are targeting vendors and small commercial establishments by replacing QR codes on their premises with codes to divert payments to their personal accounts, with around 2,000 such complaints being filed every month, according to cyber experts.
In one such recent incident under the Borabanda police limits, a vendor discovered that his QR code was replaced by one that sent the payments to a fraudster’s account.
Cyber expert Praveen Kumar Tangella said, "As QR codes have become ubiquitous in our daily lives, these scams have gained prominence in recent times, as attackers can replace QR codes in places like bars, restaurants, lounges, shops and clubs, leading to unauthorised UPI payments and potential financial losses. These scanner replacement frauds have started to increase, and the risk might grow in the future."
The police, meanwhile, said that QR codes are only for making payments and not for receiving money.
In one such recent incident under the Borabanda police limits, a vendor discovered that his QR code was replaced by one that sent the payments to a fraudster’s account.
Cyber expert Praveen Kumar Tangella said, "As QR codes have become ubiquitous in our daily lives, these scams have gained prominence in recent times, as attackers can replace QR codes in places like bars, restaurants, lounges, shops and clubs, leading to unauthorised UPI payments and potential financial losses. These scanner replacement frauds have started to increase, and the risk might grow in the future."
The police, meanwhile, said that QR codes are only for making payments and not for receiving money.
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Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat