By- Srushti sharma
A distressing story involving a man who promptly lost 42,000 rupees via UPI after losing his mobile phone to theft recently came to light.
It is believed that pickpockets are increasingly hacking stolen mobile phones in order to get the data needed to commit scams.
Losing a mobile phone is undoubtedly a massive loss in itself when the phone prices of premium mobiles are upward of ₹70-80 K.
It's nothing short of a double whammy to lose money using the Unified Payments Interface (UPI) in addition to a mobile device.
Make sure the apps are password-protected if they allow access to financial data.
Not saving passwords:
Passwords should be used to double-protect financial data.
Mobile password:
You should immediately call customer service to have your UPI account blocked if your phone is lost.
Disabling UPI:
Using more than one UPI app is pointless. It's acceptable to have just one app, but if at all feasible, one should have a few in their mobile wallet.
Apps containing financial data:
The UPI app store has many apps. The RBI has been taking strong action against some of them as they are not particularly safe.
Select the best option: