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Jan 02, 2025 03:27 PM IST
‘Jumped deposit’ scam is a new fraud which targets Unified Payments Interface (UPI) users, making them accidentally give access to withdraw money.
A new cyber scam, known as the ‘Jumped Deposit’ scam, is making rounds targeting UPI users. The scam operates by luring victims into authorising unauthorised withdrawals from their bank accounts.
The Cyber Crime Wing of the Tamil Nadu Police initially issued the scam alert in December 2024.
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How does ‘jumped deposit’ scam work?
The scam begins with the fraudster sending a small amount, maybe around ₹5,000 for example to a potential victim’s bank account using UPI.
The scammer then immediately initiates a withdrawal request for a much greater sum of money.
This sudden and unexpected deposit may cause the victim to check their account balance promptly.
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However, when they open their banking app and enter their personal identification number (PIN), the fraudulent withdrawal gets approved, and the scammer pockets the difference.
“Scammers exploit the recipient’s curiosity over an unsolicited deposit to access their funds,” The Hindu reported citing officials.
How protect yourself from jumped deposit scam?
There are two ways to avoid losing money to the jumped deposit scam.
- Wait for around 15-30 minutes before checking your bank balance since this would cause withdrawal requests to expire.
- Enter an incorrect PIN on purpose for the first time. This cancels all active withdrawal requests.
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- Apart from this, all unexpected credit must be verified by contacting the bank and checking the authenticity.
- The report added that this comes after the National Cyber Crime Reporting Portal received several complaints regarding this new scam.
- All those who became victims of the scam can also lodge a complaint at the nearest cybercrime police station, or on the cybercrime portal.
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