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Why scan QR codes for receiving money can put you at risk!

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Warning: QR codes have simplified money transactions, a critical reminder emerges – scan QR codes for sending money, not for receiving it, to safeguard your finances. A new scam tactic preys on unsuspecting individuals by enticing them to scan QR codes or click on links when receiving money, resulting in financial jeopardy.

About Scan QR Codes for Money Transfer

  • Fast & Easy: Ditch manual typing! Scan a QR code with your phone to instantly initiate transfers, avoiding typos and saving time.
  • Contactless Convenience: No need to touch cash or cards. Opt for a hygienic transaction option in today’s world.
  • Accuracy Guaranteed: Encrypted QR codes eliminate errors and ensure funds reach the right recipient every time.
  • Wider Reach: Works across various payment apps and platforms, making it a versatile and accessible option.
  • Growing Popularity: Gaining traction worldwide, expected to play a major role in the future of mobile payments.

The primary rule is clear: only scan QR codes for sending funds, not for receiving them. Cybersecurity experts caution against scanning codes or links from unknown sources to prevent fraudulent activity. Scammers exploit this vulnerability to gain unauthorized access to personal information or accounts.

Also Read: RBI Extends Paytm Payments Bank Deadline

Moreover, never enter your PIN or OTP when receiving money via QR codes. Legitimate transactions do not require such sensitive information input. If prompted to provide this data, it could indicate a potential scam.

To stay secure, scan QR codes solely from trusted sources like official payment platforms or reputable merchants, avoiding unknown or suspicious sources. Prioritize safety and verify the source’s legitimacy before proceeding with the scan.

In conclusion, exercise caution and stay safe when handling QR codes for money transactions. Avoid falling victim to scams by remaining vigilant and protecting your financial well-being. Stay informed, be cautious, and shield yourself from potential risks.
Source: https://rbikehtahai.rbi.org.in/qr.html

Last Updated on 4 months

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