The Jumped Deposit Scam: A Growing Threat to UPI Users

As digital payments continue to rise in India, a new cyber scam called the Jumped Deposit Scam has emerged, targeting UPI (Unified Payments Interface) users. This scam has caught the attention of the Tamil Nadu Cyber Crime Police, who have issued a public warning, urging individuals to remain vigilant.

How the Scam Works?

In this scam, fraudsters start by depositing a small amount of money into a victim’s bank account via UPI. Once the victim notices the deposit, the fraudster contacts them with a request to return a larger amount of money, often accompanied by a fabricated story.

The victim, curious about the unexpected deposit, opens their banking app and enters their UPI PIN to verify the balance. At this point, the fraudster sends a fake request for payment. When the victim authorizes the transaction by entering the PIN, the fraudster takes away the difference between the small deposit and the larger amount requested.

For example, imagine you receive a message notifying you that ₹50 has been deposited into your account. Curious, you quickly check your bank balance. To do this, you open your banking app and enter your UPI PIN. Unbeknownst to you, the fraudster is monitoring your actions.

Once you check your balance, the fraudster, using a different UPI transaction, requests you to send a larger sum, such as ₹500, back to them, claiming that the small deposit was a mistake or that you need to send the money for some fabricated reason. Since you’re already in the app and have entered your PIN, the scammer sends a payment request. If you’re not cautious, you may think it’s a legitimate request and authorize the transaction by entering your PIN again.

When you authorize the transaction, you end up sending ₹500 to the fraudster’s account, leaving them with the difference between the small amount they deposited and the larger sum you transferred. In the example, they would take away ₹450, which you sent back in the form of the fraudulent transaction.

What The Authorities Are Saying?

The Tamil Nadu Cyber Crime Police have warned the public about this growing threat. The National Cyber Crime Reporting Portal has seen an increasing number of complaints related to this scam. Authorities urge UPI users to be cautious if they receive unsolicited money into their bank accounts from unknown sources.

How to Protect Yourself?

To avoid falling victim to this scam, UPI users are advised to follow these simple precautions:

1. Wait Before Checking Your Balance: If you notice an unexpected deposit, wait for at least 15 to 30 minutes before checking your bank balance. Fraudulent withdrawal requests often expire after this period.
2. Use an Incorrect PIN: If you cannot wait and need to check your balance immediately, enter an incorrect PIN. This prevents any unauthorized transactions from being processed.
3. Do Not Share Your UPI PIN: Never share your PIN with anyone, especially unknown individuals who might try to scam you.
4. Verify the Deposit: Always verify the authenticity of any unexpected deposit by contacting your bank.

What to Do If You Are a Victim of Jumped Deposit Scam?

If you have already fallen victim to the Jumped Deposit Scam, it’s important to act quickly:

• Report the scam to your nearest cybercrime police station or file a complaint on the National Cyber Crime Reporting Portal.
• Contact your bank to report the fraudulent transaction.