UPI Cash Swap Trap: Did You Accept Money From Strangers And Give Them Cash In Return? Here's How It May Freeze Your Account
India, June 14 -- What looks like a harmless request from a stranger, "I'll transfer money on PhonePe, give me cash", is quietly becoming one of India's fastest-growing cyber fraud traps. Scammers are increasingly using everyday citizens and shopkeepers as unwitting intermediaries to convert stolen digital money into physical cash. Here's the catch, the money credited to your account is often stolen from another victim. Once the real victim reports the fraud, the transaction trail leads straight back to you, and banks may freeze the account while investigations begin. What seemed like a small favour can suddenly turn into a financial headache involving blocked funds and official inquiries. Authorities warn that this method is being used t...
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