Hyderabad: Cyber scam targeting small businesses

Hyderabad: The Hyderabad police authorities have reported a new cyber scam that is targeting small businesses in Hyderabad, where the fraudsters are stealing digital payments through QR codes.

And here’s their modus operandi. Scammers discreetly paste their UPI QR codes on top of the vendors’ UPI or QR codes. When customers scan the QR code for making payments, the money directly goes to these rogue accounts instead to the business owners’ bank accounts.

Reports about this occurrence have been received from various places of Hyderabad with many people falling for it. The financial implications experienced by traders have been substantial and is worsening the already existing mistrust towards electronic forms of payment.

Authorities are asking their residents and small business owners to watch for such criminal activities.

Here are some safety tips to be followed:

Vendors should check for any signs of tampering or replacement on their QR codes often.

QR codes should be secured by adding tamper-evident stickers or holograms that indicate if they have been altered visually.

Clients must always verify with the vendors before making payments if the name matches.