Mumbai, January 1: The "Jumped Deposit" scam has recently surfaced as a significant threat to mobile money users, particularly those making payments through UPI. Tamil Nadu Police have issued a stern warning to the public about this fraudulent scheme, where scammers exploit the victim’s curiosity and trust to steal funds. The scam involves an unsolicited deposit, often a small amount, sent to the victim’s bank account. Once the victim checks their balance, they inadvertently approve a withdrawal request, leading to unauthorised access to their account.

The Tamil Nadu Police have urged users to be cautious when receiving unexpected deposits and to refrain from immediately verifying the amount or entering their PIN. Scammers rely on quick actions, and victims may unknowingly approve withdrawals. Let’s explore what this scam is all about and how you can protect yourself from falling victim to this new online fraud. Digital Arrest Scam: Indian Cyber Crime Coordination Centre Blocks 1,700 Skype IDs and 59,000 WhatsApp Accounts.

What is the Jumped Deposit Scam?

The "Jumped Deposit" scam is a fraudulent scheme that targets mobile banking users through UPI. Scammers deposit a small amount, typically INR 1,000 to INR 5,000, into a victim's bank account without their knowledge. This unexpected deposit triggers a notification, prompting the victim to check their balance. Upon opening their banking app, the victim is lured into verifying the deposit by entering their UPI PIN. However, this action unknowingly approves a fraudulent withdrawal request made by the scammer, allowing them to steal a larger sum of money. The scam plays on curiosity and trust, leading the victim to unwittingly approve the theft. How To Avoid Scams? Know 10 Common Tricks Used by Scammers and Protect Yourself.

How to Protect Yourself from the Jumped Deposit Scam

To safeguard yourself from the 'Jumped Deposit' scam, exercise caution whenever you receive an unexpected deposit. First, avoid checking your balance immediately. Wait for at least 15-30 minutes to allow any fraudulent withdrawal requests to expire. If you're unsure about the deposit, consider entering an incorrect PIN initially to cancel any active transaction attempts.

It's also crucial to verify the authenticity of the deposit by contacting your bank directly rather than relying on information from unknown sources. Additionally, never share your UPI PIN with anyone, and enable transaction alerts to monitor real-time activity in your bank account. Practising these precautions can help prevent you from falling victim to such scams.

(The above story first appeared on LatestLY on Jan 01, 2025 05:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).