Fake Payment Apps: Fake Payment Apps are designed to look just like Real Ones. They copy everything – form the user interface and color scheme to the overall design – So Well that it’s hard to tell them apart at first glass.
To make the scam more convincing, some of these apps even play fake notification sounds, like a beep or chime, to make it see a payment has a payment has gone through. They can also show fake transaction details that appear real, making it tough to spot the fraud right away.
How to Stay Safe from Fake Payment Apps
Fraudsters use fake payment apps to convince unsuspecting Victims that a transaction has been completed. In reality, these fake apps merely simulate the payment process, leaveing the Victim to Discover Only Later That The Transaction was fabricated.
Few Tips to help you stay vigilant and safe from fake payment apps
Check Transaction History: Always Verify Transactions through your payment app or bank account. Do not relay soly on screenshots or notifications.
Inconsentant Information: Look for discrepancies in the transaction details. Fake apps may contain subtle errors or inconsistencies that can alert you to a scam.
Pressure tactics: be war of individuals who rush you into completeing a transaction with giving you enough for proper verification.
Unknown Apps: Familiarse Yourself with Legitimate Payment Apps Commonly Used In Your Region. If someone presents a payment through an unfamiliar app, proceed with caution.
What Extra Precautions Should Merchants take?
Merchants have Increasingly become targets of fake payment apps. Fraudsters take advantage of the chaos in a business in a business or a merchant’s divided attention to dieve them. The merchant ends upering goods or services at a loss due to the scam.
Tips for merchants to help prevent fraud from fake payment apps
Educate your Staff: Ensure all Employees are aware of this scam and know how to identify fraudulent transactions.
Implement Verification Procedures: Establish a Standard Process for Verifying Payments Before Providing Goods or Services. This might include waiting for payment comment from your phonePe Smart Speaker (Fake Apps cannot trigger these alerts), checking the transaction id, or confirming payment with your payment with your payment.
Report SUSPICIOUS Activity: If you encounter a suspected fake payment app, report it to the relevant authorities and your payment processor immediatily.
PhonePe Combating Fraudulent Apps
PhonePe is actively combating fraudulent apps and channels impersonating its brand. The company has taken proactive legal action by approaching the madras high court to seek a ‘John doe’ injunction order, aimed at preventing infringements of its Trademarks.
Following the lawsuit, the court has directed a social media platform to promptly address and remove any posts promoting fake payment apps ups upon receiving complaints from phonepe.
What to do if you’re scammed via phonepe?
If you have been duped by a fraudster via phonePe, you can immedialyly report such scams through the phonePe app or by calling the customer care numbers 080–680–687272727374 / 687727474. You can also contact phonePe through its official social media handles.
Adding further, you can report fraud at the nearest cyber crime cell or file a complaint online at https://www.cybercrime.gov.in or contact the cyber crime cell helpline aT 1930. Ians inputs)