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Man without smartphone loses Rs. 6.8 lakh in UPI fraud
Last updated on Dec 12, 2018, 08:26 pm
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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.
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Case
Seven transactions over two months, but no notification
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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.
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Reason
So, what might have happened?
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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.
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SIM swap
But, how can they gain access to SIM?
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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.
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Quote
Statement from a cyber cell officer on such attacks
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"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."