• Scammers send a small amount and falsely claim they mistakenly sent a larger sum.
• They request the victim to “refund” the excess, tricking them into sending more money.
• The victim later realizes the actual amount received was much lower.

1. UPI Overpayment Scam (2024)

Steps of the Fraud:

1. Unexpected Credit:
   • A victim receives a small amount, such as ₹200, in their UPI account from an unknown sender.
2. Deceptive Communication:
   • The sender contacts the victim, claiming they mistakenly sent ₹20,000 instead of ₹200 and requests a refund of ₹20,000.
3. Refund Process:
   • Trusting the sender, the victim initiates a UPI transaction to refund ₹20,000, not realizing the initial deposit was only ₹200.
4. Realization of Fraud:
   • Later, the victim notices the discrepancy and understands they have been scammed.