It was a normal day at work, Ravi was engaged in his tasks and suddenly a beep on his mobile phone grabbed his attention.
A notification popped up, stating ₹5000 had been credited to his account—an unexpected amount that brought an instant smile to Ravi’s face.
Curious to know more, Ravi picked up the phone. But in the very next minute, a phone rang. It was from an Unknown number. On the other hand, the caller impersonated himself as a bank customer service representative.
The caller claimed that ₹5000 had been mistakenly transferred to Ravi’s account and politely requested him to return the amount by following a few simple steps.
Ravi was a bit confused but the authoritative and confident voice of the caller made him believe the story.
Ravi then asked him about the process.
The caller on the other side asked him to open his bank account and click on the ‘Refund Request’ generated by the caller. Caught off guard, Ravi clicked on the link without a second thought, unaware that he was accidentally granting the scammer access to his account.
Within moments, ₹50,000 vanished from Ravi’s account, and the call abruptly ended.
When Ravi tried calling back that number, it was not reachable. Hoping for a resolution, he contacted his bank, but the damage was already done. The amount had already been transferred to the scammer’s account. Soon Ravi realized that he had been scammed.
This new scam is rapidly gaining traction, preying on individuals less familiar with digital payment systems.
Understanding Jumped Deposit Scam
As mentioned above, the ‘Jumped Deposit Scam’ exploits the UPI mechanism and deploys psychological manipulation to exploit trust & urgency. It starts with a deposit of a small amount in your bank account followed by a call posing himself or herself as a bank executive.
The person on call claims to have deposited the amount by mistake and creates an urge to refund the amount by logging in to the UPI account.
But instead of refund, the caller tricks you into authorizing larger transactions from your linked bank account. By the time the person realizes, the amount has already been transferred to the unknown account of the scammer.
What Lessons You Can Learn from Ravi’s Incident?
Ravi’s story is a wake-up call for many who are not so aware of digital transactions. Here are some of the lessons and precautions one can take to prevent themselves from falling victim to such scams:
- Don’t Act Hastily: Scammers in such cases, create a situation of urgency making a victim make hasty decisions. Hence, before making any such decisions, take time to think before you act.
- Verify the Caller: Ask the caller his identity and validate the details by asking his bank name etc.
- Understand the UPI Mechanism: It is important to know that UPI refunds do not ask you to enter a PIN. So if you receive any such request followed by PIN details, get an alert and avoid completing the steps.
- Take Immediate Action: If accidentally you fall for such a scam, don’t waste time and report it without any further delay. This increases the chance to get maximum recovery of your lost amount.
Final Thoughts
The digital revolution has made payments simpler, but it’s also given rise to clever scams like the Jumped Deposit. Don’t let these fraudsters rob you of your peace of mind. Spread the word, educate others, and always verify before you act.
Your security lies in your hands—literally, on your phone.
In case you have been trapped in any of such scams, fill in the details in the form below and a callback will be arranged in no time.
