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Home / News / India News / Man without smartphone loses Rs. 6.8 lakh in UPI fraud
  • India

    Man without smartphone loses Rs. 6.8 lakh in UPI fraud

    Shubham Sharma
    Written by
    Shubham Sharma
    Twitter
    Last updated on Dec 12, 2018, 08:26 pm
    Man without smartphone loses Rs. 6.8 lakh in UPI fraud
  • In a strange case of UPI fraud, a Noida-based man has lost nearly Rs. 7 lakh from his bank, without even owning a smartphone.

    The victim, Mohan Lal, has claimed his account was wiped clean over last two months and he didn't even get a single message regarding the same.

    The matter has been referred to cyber cell, but here's what might have happened.

  • In this article
    Seven transactions over two months, but no notification So, what might have happened? But, how can they gain access to SIM? Statement from a cyber cell officer on such attacks
  • Case

    Seven transactions over two months, but no notification

    Seven transactions over two months, but no notification
  • In his complaint, Lal has alleged that as many as seven UPI-based transactions were initiated from his SBI account since September 29.

    However, despite that, he didn't receive a single text alert about the money pouring out from his account.

    "It was on December 4 when I visited an ATM to withdraw some money that I found out the fraud," he told TOI.

  • Reason

    So, what might have happened?

    So, what might have happened?
  • While speaking to TOI, Lal said he didn't own a smartphone - a fact that implies he didn't have a UPI account.

    But, here's the thing. Your number remains linked to your bank, even if you don't own a smartphone.

    And, when your number is linked, all hijackers need is access to your SIM to carry out a UPI-based attack like this.

  • SIM swap

    But, how can they gain access to SIM?

    But, how can they gain access to SIM?
  • Fraudsters can gain unauthorized access to your mobile number by employing the infamous SIM swap technique.

    They may call you posing as some company representative and lure you into authorizing a SIM swap request.

    Following this, their duplicate SIM would be activated with your number, which they could use to create a regular UPI account (with the target's account) and transfer money.

  • Quote

    Statement from a cyber cell officer on such attacks

  • "Hackers can get a duplicate SIM from a mobile store by blocking the original one," a Cyber Cell officer told TOI. "They can also clone the SIM card of those who already using the UPI app and transfer money after downloading the app."

  • TOI
  • SBI
  •  
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