BioCatch: India SMS scams surge 146% as UPI use rises
Technology
Text message scams in India have shot up by 146%, says a new BioCatch report.
The big reason? More people are using UPI, mobile banking, and online shopping.
Even though there were fewer scam attempts overall, scammers are going after bigger amounts, so the total value of attempted fraud actually went up by 35%.
Scammers target high value transactions
Fraudsters now target high-value transactions through quick SMS tricks and automated tools like credential autofill.
Some even call victims directly, urging them to approve payments without double-checking.
Banks are fighting back with AI-powered systems and real-time monitoring, but staying alert is more important than ever.