[ad_1]
Last Updated:
In this new scam cybercriminals exploit victims by sending UPI credits knowing they will check their balances. When victims enter their PIN, fraudsters seize the opportunity to withdraw money from their accounts
This scam involves unsolicited UPI payments from unknown senders. (Representative/Shutterstock)
Cybercriminals are constantly devising new methods to defraud individuals and steal money from their bank accounts. A new scam targeting UPI users, dubbed the ‘Jumped Deposit Scam’, has emerged.
The scam involves cybercriminals sending money to a victim’s bank account via UPI. Knowing that most people check their balance upon receiving a credit notification, the fraudsters seize this opportunity to steal funds. As soon as the victim enters their PIN to check their balance, money is withdrawn from their account.
The Tamil Nadu Police have issued a warning regarding a scam involving unsolicited UPI payments from unknown senders, following numerous complaints lodged on the National Cyber Crime Reporting Portal. They caution individuals to exercise caution if they receive such payments.
How the Scam Works
Perpetrators of this scam initiate the fraud by depositing a small sum of money into a person’s bank account using UPI. They then swiftly request the victim to return a larger amount than the initial deposit. Upon receiving the credit notification, most individuals instinctively open their UPI app to check their balance, entering their Personal Identification Number (PIN) in the process.
However, the fraudsters will have already initiated a withdrawal request, and the moment the victim enters their PIN, the pending request is approved, resulting in the funds being withdrawn from their account.
How to Protect One’s Money
UPI users can protect themselves from this scam in two ways. Firstly, if a credit notification is received, it is advisable to wait for 15-30 minutes before checking one’s account balance. This delay allows any fraudulent withdrawal requests to expire, rendering the PIN entry useless to the scammer. Secondly, if waiting is not feasible, users can intentionally enter an incorrect PIN. This action will effectively reject any pending transactions.
[ad_2]
Source link