Vanshika Goyal, University of Petroleum and Energy Studies
Abstract
As technology is growing, new methods of payments are arising which now includes the method of Unified Payment Interface [UPI] which was introduced by National Payment Corporation of India. UPI is a phone centric payment’s bank through which digital payments are done, being easy and efficient method, it is gaining good popularity in India but as everything comes with certain drawbacks, UPI also has some ineffective features. The paper is concerned with the study about scams that are done through the UPI mode. The paper answers the questions like what are the kinds of scams that are done by people through UPI. The paper researches in the topics of protocol for UPI and the effectiveness or ineffectiveness of such protocols. The study is also concerned with the method of detection frauds though artificial intelligence and answers the question that whether such methods are lacking behind and are not being able to detect scams. In this paper, I will try to sum up the rules and regulations laid down by the government of India with the help of recent case laws and citing recent development in the area. UPI is still at a developing stage and therefore, needs more observation by the government and there are many steps through which situation and index of such crimes may fall off.
