“UPI fraud ho gaya” - but is the UPI system actually unsafe? At the recent Conference on ‘Tackling Cyber-Enabled Frauds & Dismantling the Ecosystem’, we spoke with Mr. Hardik Dixit, Head, Fraud Risk Management at NPCI, to understand whether the issue lies in the payment system or in user manipulation. He mentioned that •UPI follows RBI-mandated two-factor authentication •Payment happens only when the user enters their UPI PIN •When scanning a QR code, the beneficiary’s registered name is clearly