Fraudsters using WhatsApp to spread malware-laced fake banking apps

Unified Payment Interface-based banking apps have boosted digital transactions in India, however, vigilance is recommended as fraudsters use convincing fake banking apps to dupe users. Last month, India’s National Payments Corporation recorded over 1.1 billion transactions amounting to about Rs 17.4 lakh crore. Scammers create panic with messages about unfulfilled KYC requirements and direct users to download their fake apps.