Jumped Deposit Scam: A New Threat to UPI Users in India
Understanding and protecting yourself from this emerging digital payment fraud
In the rapidly evolving landscape of digital payments, the Unified Payments Interface (UPI) has revolutionized transactions in India, offering unparalleled convenience. However, this convenience has also attracted fraudsters who continually devise new methods to exploit unsuspecting users. One such emerging threat is the "Jumped Deposit Scam," specifically targeting UPI users across the country.
Understanding the Jumped Deposit Scam
The Jumped Deposit Scam is a deceptive tactic where fraudsters exploit the curiosity and trust of UPI users. The scam unfolds in the following manner:
The scammer initiates the fraud by transferring a small, unsolicited amount—often as little as ₹1—into the victim's bank account via UPI.
Immediately after the deposit, the fraudster sends a request for a larger amount, banking on the victim's curiosity to check their account balance.
When the victim notices the unexpected deposit, they may attempt to check their bank balance or transaction history. To do this, they enter their UPI PIN, inadvertently approving the pending withdrawal request.
As a result, the scammer successfully withdraws a larger sum from the victim's account, leading to financial loss.
Recent Incidents and Warnings
The Tamil Nadu Cyber Crime Police have issued warnings to the public, highlighting the modus operandi of these fraudsters. They caution that scammers exploit the recipient's curiosity over an unsolicited deposit to access their funds.
Additionally, the National Cyber Crime Reporting Portal has received multiple complaints regarding this new scam, indicating its widespread nature.
Protecting Yourself Against the Scam
If you notice an unexpected deposit, wait for 15-30 minutes before checking your bank balance. Withdrawal requests often expire after a short period, reducing the risk of accidental approval.
If immediate access is necessary, consider entering an incorrect PIN intentionally. This action can decline any unauthorized pending transactions.
Always verify any unexpected deposits or withdrawal requests with your bank before taking action. Contact your bank's customer service through official channels to confirm the legitimacy of the transaction.
If you suspect fraudulent activity, report it immediately to your bank and the nearest cybercrime police station or through the National Cyber Crime Reporting Portal.
Conclusion
The Jumped Deposit Scam is a stark reminder of the evolving tactics employed by cybercriminals to exploit digital payment systems. By staying informed and exercising caution, UPI users can protect themselves from falling victim to such fraudulent schemes.
