Do not use UPI, or all ur n ur family acc will be freezed

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fahim.ali

Fraud Alert: Beware! Police Are Freezing Bank Accounts for Accepting Payment from UPI Accounts Linked with Cybercrimes


A person eats a meal at a hotel in Muppathadam in Kerala and pays the bill using a unified payment interface (UPI). Unfortunately, the UPI account from which the payment was made is linked with an online fraud. The result? The bank accounts of the hotel, its chicken supplier and the father-in-law of the supplier are now frozen on orders from the police. 

 

Sounds like fiction? Unfortunately, this is what is happening quite frequently everywhere these days. Tech expert Srikanth L and public interest technologist Anivar Aravind flagged this scary issue from Kerala on Twitter. Now, more and more people are coming forward to talk about their inability to access their bank accounts. These incidents are not limited to one or two states but are happening nationwide. 

 

While freezing of accounts may be required in some cases, the big issue here is that the police or even banks (who cite the finance ministry's money laundering rules when they freeze accounts for the delay in revalidating know-your-customer—KYC documents) seem to be able to stop people from accessing their own savings, on the flimsiest grounds, without adequate checks & balances or adequate redress in case of excessive action or police overreach.

Full post

https://www.moneylife.in/article/fraud-alert-be...

Even for receiving a meager amount as small as 10rs, banks and police, are freezing acs of family, relatives, anybody u ever transacted with. i believe fi and Jupiter were freezing accounts for these reasons. what's worse is , once Frozen , there's no way to unfreeze these accounts without the order from high court. banks are clueless , cyber cell is deaf. trading in dd or on WhatsApp groups, helping someone with your card is very risky now. be safe use cash or card wherever possible.

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Deal Cadet Deal Cadet
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Yes this is true and someone I know whos running a business has faced this issue and are being asked 40-45k as a bribe to immediately unfreeze the account!

Benevolent Benevolent
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Will it be the same if I use RuPay CC on UPI @abhishek012

Finance Ninja Finance Ninja
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No.

Merchant should use merchant account to accept all types of payment.

These are rare cases and relax what is happening is good because right laws are made only when something goes wrong (I'm not kidding, it's a real fact).
Critic Critic
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the right law would be to only freeze the disputed amount, but here the authorities and banks are freezing whole account, which could be someone lifetime savings

Finance Mentor Finance Mentor
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They need to do some method to stop this madness as now upi become lifeline for financial transactions. If this continues whole upi payment system will become useless and people will shun it in no time. 

Deal Cadet Deal Cadet
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Why they're not freezing the acc. of cyber criminals in first place

Benevolent Benevolent
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Buisnessmans love dealing in cash and this will make sure they deal in cash

Helpful Helpful
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If the account is freezed...Linked FD also freezed?

Finance Mentor Finance Mentor
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If fd is created out of disputed money then that will also blocked. 

Helpful Helpful
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Kisi fraud ka upi handle se apne Dushman ko paisa bhej do

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