The significant spike in incidents of online scams amid an
increase in use of digital payments, including the Unified Payments Interface
(UPI), has caught the attention of the authorities, prompting various
government agencies to create awareness among the general public. What was
supposed to ease financial transactions by allowing users to make payments
digitally from anywhere at their convenience has also become a matter of
concern as people keep falling victim to fraudulent activities. Amid the rising
menace of digital arrest scams across the country, Prime Minister Narendra Modi
recently cautioned the citizens in his latest ‘Man ki Baat’ broadcast to stay
vigilant against cybercrimes, while terming such criminals as enemies of
society. Now, the National Payment Corporation of India (NPCI) has also issued
a public advisory, alerting users about the alarming rise in online scams. It
has warned in a statement that digital payment systems, though offer security
and convenience, should be used safely to avoid losing one’s hard-earned money.
“Early identification of potential scams helps protect you and your loved ones,
fostering a safer, less-cash economy for everyone,” reads the advisory. Several
government agencies and institutions, both at the national and state levels,
too have been relentlessly creating awareness about the menace, yet cybercrimes
and online frauds remain rampant. This disturbing trend needs to be arrested.
The Internet has become an integral part of our life and
digitisation of our everyday activities is inevitable owing to convenience,
speed and security. Like many countries, the government of India has been
persistently promoting digital payments despite challenges including internet
access in rural areas, aligning with its vision of a cashless and inclusive
economy. The ever-expanding digital payments landscape over the last years,
from 2,071 crore (transaction value at INR 1,962 lakh crore) in FY 2017-18 to
18,737 crore (transaction value at INR 3,659 lakh crore) in FY 2023-24 at a
comounded annual growth rate of 44%, clearly indicates where the country is
heading. The fact is that our reliance on digital payment system will only
increase for various reasons. So, adapting to the change is the only way
forward. As fraudsters continue to come up with new strategies to scam
unsuspecting and vulnerable people, especially the elderly, it is imperative to
spread awareness and follow cyber-safe practices. Preventive vigilance is key
to avoiding falling prey to scammers, who commonly use tactics like threat and
urgency, impersonation, asking for money or sensitive personal information,
etc. The public should keep an eye on such tactics, cross-verify the identity
of callers and report suspicious activities to the concerned authorities. It is
also important to stay informed in this technology age. Ignorance is not bliss.
