Cybercriminals have launched a novel scam aimed at UPI users, known as the 'Jumped Deposit Scam.' In this scheme, unsuspecting individuals are deceived into losing their funds. Numerous reports have emerged nationwide as an increasing number of people recognize this escalating danger.

How the Scam Works

Fraudulent activities commence when scammers deposit minor sums of money into a victim's bank account using UPI. Upon receiving a notification, the victim accesses their payment application to examine the unanticipated deposit. Shortly thereafter, the fraudsters issue a 'Collect Money' request, which leads the victim to input their UPI PIN to confirm the transaction. This action is deceptive, as it provides unauthorized access to the victim's account, leading to an unapproved withdrawal.

Authorities Issue Warnings

In response to numerous complaints submitted to the National Cyber Crime Reporting Portal, the Tamil Nadu Police have issued a public advisory. They urged UPI users to exercise caution regarding unexpected deposits from unfamiliar sources. Nevertheless, experts have reassured the public that the UPI framework is equipped with robust security measures designed to thwart unauthorized transactions.

The National Payments Corporation of India (NPCI) has addressed various technical misunderstandings related to the scam. NPCI clarified that merely accessing a UPI or banking application does not constitute approval for a transaction. Users must actively engage with a payment request and select the 'pay' option to authorize any payment. Without this deliberate action, a transaction cannot be completed. NPCI underscored that UPI operates as a secure, device-based system, where only the registered user has the authority to initiate a transaction, thereby preventing any external party from directly accessing funds.

Furthermore, NPCI specified that entering a PIN for balance inquiries does not permit transactions or withdrawals, as these actions are categorized separately. The UPI system remains committed to adhering to rigorous safety protocols and regulatory standards, thereby facilitating the growth of digital payment adoption.

How to Protect Yourself

To avoid falling victim to the scam, follow these two steps:

1. Delay Checking Your Balance: Wait for 15-30 minutes before reviewing your account after receiving a credit notification. This delay helps any fraudulent withdrawal requests to expire.
2. Enter an Incorrect PIN: If immediate action is needed, intentionally entering an incorrect PIN will block any pending transactions.

What to Do if You're Targeted

In the event that you receive an unanticipated deposit, it is imperative to notify your bank and report the occurrence to the nearest cybercrime police station or the National Cyber Crime Reporting Portal at www.cybercrime.gov.in. Prompt reporting enhances the likelihood of recovering misappropriated funds and helps to avert additional exploitation.

The emergence of the "Jumped Deposit Scam" underscores the necessity for heightened awareness in the management of digital transactions.

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