QR code scan fraud alert by SBI

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QR code scan
QR code scan fraud alert by SBI

The bank has shared a two and a half minute video on Twitter explaining a situation on how a QR code scan will actually result in debiting money from your bank account

State Bank of India (SBI), the country’s top lender has warned its customers about the QR code scan fraud. The bank has alerted people to not to do QR code scan shared by anyone unless the objective is to pay.

In COVID-19 pandemic times, online transactions have become a necessity. Technology has not only made our life easier but also for the cyber fraudsters, so one must be extremely cautious while carrying out the online transactions.

For cheating people, an increasingly popular modus operandi for cyber fraudsters is QR code scan. Fraud related to the same too has been on the rise with more and more people moving to online transactions.

SBI tweeted, “You don’t receive money when you scan a QR code. All you get is a message that your bank account is debited for an ‘X’ amount. Do not scan #QRCodes shared by anyone unless the objective is to pay. Stay alert”.

The bank has shared a two and a half minute video on Twitter explaining a situation on how a QR code scan will actually result in debiting money from your bank account.

One should remember that a QR code scan should be done only to make payments and not to receive money.

The scam starts with someone putting an item on an online sale website. That’s when the fraudsters pose as buyers and share the QR code to pay an advance or token amount. They then create a QR code and share it with the intended victim through WhatsApp or email. They will ask the victim to scan the QR code sent by them so that they will receive the money directly into their bank accounts. Believing them, the victims scan QR codes sent by the fraudsters presuming that they will receive the money in their account but they end up losing money.

Also read:Robots becoming an important part of the marketing industry

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