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Digital Payment Safety

Reasoning & Computer Aptitude · Cyber & Digital Safety

Useful for: IBPS Banking

Overview

Most digital payment fraud uses social engineering; following a few firm rules prevents almost all losses.

Key points

Never share OTP, UPI PIN, card PIN, CVV or passwords.
A UPI PIN is needed only to pay — never to receive money.
Do not install screen-sharing apps at a caller’s request.
Report fraud immediately to the bank and on 1930 / cybercrime.gov.in.
Under RBI rules, reporting an unauthorised electronic transaction due to a third-party breach within three working days gives zero customer liability.

Explanation

Check UPI collect requests carefully — approving sends money out.
Use only official app stores and bank websites (HTTPS).
Set transaction limits and alerts.
Fake customer-care numbers on search results are a common trap.

Step by step

Identify the term or device asked.
Recall its definition or function.
Eliminate options from other categories.

Examples

To receive money on UPI you need → no PIN.
Reporting window for zero liability (third-party breach) → three working days.
National cyber-fraud helpline → 1930.

Traps and advanced points

Trap: Entering the PIN to "receive" money.
Trap: Sharing OTP with "bank staff".
Trap: Delaying the report.

Quick revision

PIN only to pay.
Report within 3 working days.
1930.

Practice MCQs

Which should never be shared?
1. your bank’s name
2. the city name
3. the IFSC of a branch
4. OTP and UPI PIN
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Answer: (d) OTP and UPI PIN. Also CVV, passwords.
A UPI PIN is needed —
1. to check the weather
2. never
3. only to pay
4. to receive money
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Answer: (c) only to pay. Not to receive.
A caller asks you to install a screen-sharing app to "fix" your account. You should —
1. share OTP
2. give PIN
3. refuse and hang up
4. install it
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Answer: (c) refuse and hang up. Fraud tactic.
The cyber-fraud helpline number is —
1. 100
2. 112
3. 1930
4. 1098
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Answer: (c) 1930. 1930.
Fraud can also be reported at —
1. a social media post
2. nowhere
3. cybercrime.gov.in
4. any shopping site
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Answer: (c) cybercrime.gov.in. Official portal.
A message says "you won a prize, enter your UPI PIN to receive it". This is —
1. safe
2. a fraud
3. genuine
4. a bank rule
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Answer: (b) a fraud. PIN is never for receiving.
Unauthorised electronic transactions should be reported —
1. after a month
2. never
3. only in writing after a year
4. immediately
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Answer: (d) immediately. Faster reporting limits liability.
Before paying via QR code you should —
1. check the payee name
2. share OTP
3. ignore details
4. pay twice
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Answer: (a) check the payee name. Verify payee.
Banks ask for OTP over phone calls —
1. always
2. monthly
3. on holidays
4. never
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Answer: (d) never. Genuine banks never ask.
CVV is printed on —
1. the back of a card
2. the cheque book
3. the passbook
4. the ATM
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Answer: (a) the back of a card. Card verification value.