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From the technical and security point of view, no one can directly transfer money from your bank account just by having a mobile in your hand. Unified Payments Interface (UPI) works on two layers of security (Two-Factor Authentication). To complete any transaction, it is not enough to just open the app, but it is mandatory to enter the 4 or 6 digit confidential UPI PIN. This PIN is verified not on your device, but on the bank’s secure servers.
However, despite this strong circle of security, the risk of carelessness cannot be completely ruled out. If you haven’t set a screen lock (PIN, password, fingerprint) on your phone, or your screen lock and UPI PIN are the same (like year of birth or 1234), there is an increased risk of your account getting wiped out if it falls into the wrong hands. Additionally, if cyber criminals remove the SIM card from the phone and insert it into another device, they may try to reset the PIN or access other financial services through bank SMS and OTP.
If your smartphone is ever lost or stolen, instead of panicking, complete the steps given below immediately on priority:
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First of all get your SIM card blocked:
As soon as the phone goes missing, call the customer care of your telecom operator (Jio, Airtel, Vi, BSNL) from a relative’s phone or go to the nearest store and get the SIM card of that number deactivated / blocked immediately. As soon as the SIM is blocked, bank OTP and SMS alerts coming to your number will stop, due to which no one will be able to reset the password.
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Block services of UPI and payment apps (Google Pay, PhonePe, Paytm):
Get your account temporarily suspended by visiting the helpline numbers or websites of payment service providers:
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Google Pay: Contact the helpline number 1800-419-0157 or unlink the device from your Google Account.
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PhonePe: Call the helpline number 080-68727374 and select ‘Report Fraud or Lost Phone’ option and get the account frozen.
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Paytm: Contact the helpline number 0120-3888388 and log out immediately from all devices through the ‘Lost Phone’ option.
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Get net banking and UPI access put on hold by informing the bank:
Call your bank’s 24×7 helpline number and inform them about the lost mobile. Request the bank representative to temporarily block the mobile banking and UPI access linked to your account. Due to this, no debit transaction will be possible from the account until a new SIM and device is received.
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Remotely delete phone data from Google ‘Find My Device’:
In a browser on a computer or other phone [google.com/android/find](https://google.com/android/find) (for iPhone [icloud.com/find]Go to (https://icloud.com/find)) and login with your same email ID which was on the lost phone. from there ‘Erase Device’ By choosing the option, delete all the data of the phone remotely (Factory Reset). This will completely clear all the apps, bank credentials and cache memory present in the phone.
After ensuring financial security, file a missing phone complaint (FIR or NCR) with the nearest police station. After this, the official portal of the Department of Telecommunications, Government of India CEIR (ceir.gov.in) Go to. There, get the handset blocked at the central level with the help of your police complaint number and the IMEI number of the phone. Due to this, that phone will become useless on any network in the country and no other person will be able to use it even after inserting a new SIM in it.