There is a constant need of OTP for every transaction. That sms says again and again Do not share it with anybody or, something similar to that. Instant transfers are only from bank to bank accounts, and not to any personal wallets. Banks have strict KYC requirements to get the documents again every few years. So whoever account is getting the money, bank gas most of their information.

So even after all those multiple warnings, if somebody gets frauded (which happens, because people get greedy, they pay a small amount to get a bigger prize, or a work from home job etc scams), police in some places now have IT Crime cell, which follows up with banks and try to recover the money. No guarantee. But there is no constant stream of fraud anymore thatln what happens here in US with people who fall for scams.