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If you use a QR code for online payment, be cautious, as SBI warns and explains how fraud occurs

The number of online scams is steadily increasing. SBI has now informed the public about the latest hoax and advised them to stay away from it. Let us know how thugs use QR codes to swindle people…

The State Bank of India (SBI) has issued a QR scan warning to its clients. SBI has advised consumers not to scan a QR code supplied by someone unless it is for the purpose of making a payment. During the corona pandemic, online payment has become necessary. However, while transacting online, extreme caution is advised. Although technology has made our lives easier, it has also made it easier for cyber thugs to defraud.

People have become increasingly adept at deceiving others with QR codes. As more individuals turn to internet transactions, the number of frauds associated with them is rising.

Read More: Ayushman Bharat Digital Mission: A health ID will be created along the lines of Aadhaar, with numerous benefits; learn more about this initiative

SBI sent out a tweet to notify consumers.

‘When you scan a QR code, you do not get money,’ SBI tweeted. You only receive notification that your bank account has been debited for the sum of ‘XX’. Do not scan the QR code supplied by anyone if you do not wish to pay. Always be on the lookout. SBI has also released a 2.5-minute video demonstrating how scanning the QR code can debit your account.

Also keep in mind that the QR code should only be scanned to make a payment, not to receive money.

What causes QR code fraud?

The fraud begins with the placement of a product on an online sales website. The scammer then poses as a buyer and shares the QR code, which is used to pay the token amount. They then produce a QR code and send it via WhatsApp or email to the chosen victim. They will instruct the victim to scan the QR code they have supplied them in order to receive the funds directly into their bank accounts. The victims scan the QR code supplied by the fraudsters, believing they will receive the money in their account, but they do not receive it.

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