A quick response (QR) code is a kind of barcode that stores data and can be accessed by a digital device like a mobile. In order to facilitate digital payments, QR codes have become more widely used. In recent years, India’s digital payments industry has progressed, with the pandemic hastening the acceptance of digital payments. Moreover, as the country moves toward more electronic payments, it’s essential to consider the difficulties that emerge with it as an add-on. When it refers to electronic payments, one of the main problems and most critical factors is security. As the digital payments sector is growing more at a faster rate during COVID-pandemic in our country, malicious practises such as fraud, intimidation, and extortion are on the rising trend on the other side. SBI recently published an alert on QR scans in this regard. SBI has advised its customers not to scan QR code in order to avoid falling victim to fraud.
In its recent tweet, SBI has stated that “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.” SBI has released a two-and-a-half-minute video that explains how scanning a QR code will end in money being debited from your bank account. Take a look at this video here.
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