What is the "jumped deposit scam" that targets users of UPI? Examine two strategies to guard against new scams.
UPI customers are the target of the jumped deposit fraud. Taking advantage of victims' curiosity, scammers offer a tiny deposit and then ask for a larger withdrawal. To reduce dangers, authorities encourage alertness and timely reporting to banks and cybercrime units.
Users of the unified payments interface (UPI) are the subject of a recent cyber fraud known as the "jumped deposit scam." First, scammers entice victims by making a modest, unwanted deposit into their bank accounts.
HOW DOES IT WORK ?
A scammer uses UPI to transfer a tiny sum to the victim's bank account. After that, they ask for a larger withdrawal right away. The victim might quickly verify their bank account amount as a result of this sudden deposit. The victim must input their personal identification number (PIN) in order to access their bank details, and the fraudulent withdrawal is authorised. The difference money is taken stolen by fraudsters.
The public was previously cautioned by the Tamil Nadu Cyber Crime Police to exercise caution when dealing with such unforeseen deposits.
According to officials cited by The Hindu, scammers take advantage of the recipient's interest about an unwanted deposit in order to obtain their money.The latest scam was the subject of numerous complaints to the National Cyber Crime Reporting Portal, it noted.
WHAT SHOULD BE DONE ?
There are two methods UPI customers can guard against jumped deposit scams.
Since withdrawal requests expire after a certain amount of time, wait 15 to 30 minutes after noticing an unexpected transaction in your bank account before checking your balance.
Try purposefully entering an incorrect PIN number to reject the prior transaction if you don't have time to wait a few minutes.
Additionally, to confirm legitimacy, notify your bank if you discover an unexpected or sudden credit in your account. The closest cybercrime police station or the cybercrime portal is where fraud victims must file a complaint.
The State Bank of India recently highlighted a number of cybercrimes, including digital arrests and fake customs claims, in light of the rise in cybercrimes. To safeguard themselves, the bank advised its clients to report shady calls and confirm any unexpected financial requests.
It explained scams like "digital arrests," where scammers pretend to be law enforcement officers and threaten to question you about fictitious criminal conduct. For easy chores, some scammers may offer large quantities of money as payment. After that, they might request a security deposit.
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