A STUDY ON AN ANALYSIS OF CYBER RISKS IN DIGITAL FINANCE WITH A FOCUS ON UPI PAYMENTS

Abstract

ABSTRACT The growth of digital finance has transformed financial transactions in India, with the Unified Payments Interface (UPI) becoming a widely used payment mechanism. However, increasing activity has also created exposure to phishing, fake applications, OTP fraud, QR scams, identity theft, malware, SIM swapping, and unauthorized access. This study examines cyber risks associated with UPI payments, users’ cybersecurity awareness, security practices, and confidence in payment systems. Primary data from 100 UPI users were analysed using percentage analysis. Findings indicate that phishing is the leading reported threat, while awareness and security practices influence confidence. The study recommends stronger security measures and continuous user awareness. Keywords: Unified Payments Interface (UPI), Cybersecurity, Digital Payment Security, Cyber Risks, Digital Finance