Learn how to spot mobile payment scams and stay secure from digital wallet fraud
It has been over a decade since digital payment systems were first introduced in Nepal, and people were slowly but surely shifting towards digitization. When the spread of Covid-19 turned the world upside down in 2020, Nepalese also quickly adjusted to the new, socially distanced world. Today, mobile payment apps are rapidly becoming the preferred option for consumers all over Nepal to pay for goods and services. However, with anything good that arrives, there is always a piece of bad that follows; as is the case for digitalization. The popularity of digital payments has also increased the risk for unaware users to become targeted by fraudsters and scam artists that abuse these apps for their illegal schemes. But, we must not panic, we must learn because the best line of defense is awareness.
IME Pay is one of the leading payment gateways in Nepal with a wide range of payment services (send and receive remittance online, utility payment, etc); as quick, convenient, and secure we try to make our system there always arises the risk of misuse by fraudsters; these are predators who may abuse the lack of awareness in our users. That’s why, today, we are here to tell you how you can spot mobile payment scams and avoid digital wallet fraud.
Digital Payment fraud is any type of false or illegal transaction completed by a cybercriminal. These fraudsters can trick you into giving up sensitive information or private financial data and steal your money without your knowledge. Imagine if you left your purse at a public place and someone finds it. Let’s say there are few genuine people who would help you get it back, but mostly that unknown person will definitely empty your purse, right? It’s the same if you share your Password, Pin, OTP, CVV, etc., and other crucial information with anyone. Digital fraudsters can use various measures and tactics to lure you into their trap. It’s up to you to maintain necessary precautions to keep your money and information secure, and your wallet safe.
All you need to know about Digital Scams
Here’s a look at some of the ways these scammers can steal your money from digital platforms:
So are digital payment platforms safe to use? Yes, indeed, if used properly and securely.
What not to do?
If you are using the digital wallet platforms for payment, here are some of the tips of the things you must never do:
If you’ve become a victim of fraud, what to do next?
Remember, your data is your power, and it needs to be protected!