UPI has made payments so easy but at the same time caused huge losses to manyDigital transactions have been around for long and with new means of payment like UPI and Virtual Credit cards and wallets, financial transactions have become so much easier and convenient. Low value payment can be made in a few seconds. Also, cash transactions have come down significantly. During this time of panademic, digital transactions have made made a huge difference by reducing the exchange of cash and to some extent preventing spread of virus.
Athough, digital transactions have added to lot of convenience but also added to misery of many as many have lost a lot of money to frauds and illegal transactions by conmen. Many people have been compelled smartly to reveal the OTP received on their mobile and instantly money deducted from their bank account. Senior citizens as well as young have fallen prey to such frauds. I personally know of 2 people in my contact who lost money from Rs.10,000 to Rs.50,000. One peron lost Rs. 10,000 on OLX and another Rs. 50,000 while calling Zomato customer care.
How many other member have known or faced such frauds while transacting digitally.