New Fraud Targeting UPI and Phone Pe Users! How to Avoid Losing Money?

New Fraud Targeting UPI and Phone Pe Users! How to Avoid Losing Money?

Delhi: Nowadays, most of us prefer making transactions through UPI. From small shops to large malls, UPI is available everywhere, and people prefer using it.

In the meantime, a new type of cyber scam called “Jumped Deposit” is targeting the UPI system. Let’s take a closer look at this.In the past, we used to carry cash when we went out. Even if we had a card, most people preferred cash transactions.New Fraud

New Fraud Targeting UPI and Phone Pe Users! How to Avoid Losing Money?

UPI: This was because when we made payments using cards, the shopkeeper had to pay a certain percentage as a commission. This is why, except for larger stores, most people preferred cash. However, UPI has completely changed this. With UPI, there is no fee for anyone. That means you don’t have to pay any charge, and the shopkeeper doesn’t have to give a commission. This has made many people start using UPI.

UPI usage increased for several reasons, including no retail problems and no fear of theft. The amount of money transacted through UPI has been increasing every year. Last year alone, around 23.25 trillion rupees were transacted. With the increase in UPI users, a new scam is emerging.New Fraud

Cyber Scam: The cyber crime police have issued a warning about the “Jumped Deposit” scam. Before we look at how to protect ourselves, let’s understand how this scam works.

How it Happens: You suddenly receive a payment from an unfamiliar UPI account. For example, let’s say you receive ₹5000. You might be shocked, wondering who sent such a large amount. You might check your bank balance to confirm if this is a scam. This is where we fall into the trap.

New Fraud Targeting UPI and Phone Pe Users! How to Avoid Losing Money?

The cybercriminal who sent you ₹5000 will immediately request a larger amount, say ₹25,000. When you, out of curiosity, check your balance and click on the request, if you enter your UPI PIN, ₹25,000 will be transferred from your bank account. This way, the scammer receives ₹20,000 extra. This is called a “Jumped Deposit.” Scammers are increasing such frauds.New Fraud

How to Stay Safe: To protect yourself, you can follow some simple steps. First, if money comes into your bank account, do not check your balance immediately for about 30 minutes. Generally, in 30 minutes, the request expires. Alternatively, you can accidentally enter a wrong UPI PIN the first time, which will cancel the request. Doing this will help you avoid falling into the scam.

However, if you receive money from unknown sources like this, report it immediately to the National Cyber Crime Reporting Portal. If you are a victim of such frauds, you can file a complaint with the nearest cyber crime police.New FraudHow to revive your skin post holiday indulgence

New Fraud Targeting UPI and Phone Pe Users! How to Avoid Losing Money?

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