10 Warning Signs of a UPI Scam

1. An unexpected collect request or payment approval prompt you did not initiate
2. Any caller or message asking for your UPI PIN
3. A request to scan a QR code to receive money
4. Urgency - pressure to act immediately before you can think or verify
5. A suspicious link claiming to be a refund, reward, or bank page
6. A customer care number found via search engine rather than your bank's official materials
7. A request for your OTP over a call, SMS, or chat
8. Instructions to install any remote-access or screen-sharing application
9. A payment screenshot provided instead of a verifiable transaction confirmation
10. Threats of legal action, account closure, or service disruption

Also Read: Most Prevalent Digital Financial Frauds and Ways to Mitigate It

Can You Get Scammed Through UPI Without Sharing an OTP?

Yes. OTP sharing is one fraud mechanism - but not the only one.

Many UPI scams involve the victim personally authorising a transaction after being deceived - no OTP theft required. When you approve a collect request or scan a QR code and enter your UPI PIN, the transaction is authorised by you. This is categorised differently from an unauthorised transaction - and has different implications for your recovery prospects.

Three distinct scenarios exist: an unauthorised transaction (where a fraudster gains access to your account without your knowledge); a transaction authorised after deception (where you were manipulated into approving it); and phishing or credential theft (where your details are captured and used later). Each requires a different immediate response.