UPI scam: MHA reports a sharp increase in incidences of online payment fraud.

Online payments are now incredibly rapid and simple thanks to the Unified Payment Interface (UPI). Nobody is shocked by UPI’s accomplishments. However, there has been a rise in the instances of fraud in UPI-based online transactions. The National Cyber Crime Reporting Portal (NCRP) has seen a large increase in cyber fraud reports as a result of UPI fraud, according to data from the Ministry of Home Affairs. Between the first and second quarters of 2022, reports of cyber fraud increased by 15.3%.