The world has become interconnected and banking transactions have become a great convenience. However, this also opened up opportunity for fraudsters to take advantage of innocent individuals and businesses. Jump Deposit Scam is one such scheme which is based on deception which preys on trust and urgency to manipulate victims to loose their money.
Modus Operandi of Jump Deposit Scam?
- Small Initial Deposit:The scammer transfers a small, seemingly harmless amount of money (e.g., ₹10 or ₹20) to the victim’s bank account, thus creating a sense of trust and legitimacy
- Building Communication: The fraudster contacts the victim, pretending to have mistakenly transferred the amount. They use this opportunity to initiate a conversation and establish trust.
- Social Engineering Tactics: Over a series of calls or messages, the scammer uses persuasive language and emotional manipulation to gain the victim’s confidence. Most of the cases that are on continuous calls, creating a sense of familiarity and trust.
- Request for a Larger Amount: Once trust is established, the fraudster requests the victim to send a larger sum of money requests just simply adding more zero’s say as an example fraudster send 1000/- (one thousand) and he will initiate the request for 100000/- (one lakh rupees)
- Engagement: The scammer keeps the victim on the phone or in constant communication, ensuring they don’t have time to think critically or validate the payment request sent.
- Financial Loss: By the time the victim realises they’ve been scammed, they have already transferred a significant amount of money, often leaving them helpless.
How to IdentifyJump Deposit Scam?
- Verify Payments: Always cross-check your bank statement/transaction history before making any action on the payment claim. Never bank on just screenshots or SMS confirmations as evidence of payment
- Wait for Clearance: Payment through cheques and transfer wait until the amount clears your bank account while processing refunds.
- Watch for Red Flags: (a) Urgency to act. (b) Requesting refund through untraceable means such as gift cards or digital wallets or UPI transfers. (c) Suspicious or overly polite behaviour from unknown persons.
- Enable Alerts: Official bank alerts or mobile app notifications to monitor account activity
If you had lost of money?
- Firstly contact your bank to report the fraudulent activity (See below customer care connects).
- Secondly (If loss of money) reach out to The NPCI Portal for Raising Complaint- https://www.npci.org.in/what-we-do/upi/dispute-redressal-mechanism or 1800-120-1740
- Alternatively you can reach 1930 or log on to https://www.cybercrime.gov.in/ and raise a complaint if you had If loss of money.
- Before that ensure you save all communications, screenshots, and transaction details related to the scam.
Few UPI Customer Care (E-Mail & Support Numbers)
- BHIM UPI – Customer Care Number: 1800-120-1740 | Support Email: bhim@npci.org.in
- Google Pay – Customer Care Number: 1800-419-0157 | Support Email: support-in@google.com
- PhonePe – Customer Care Number: 080-68727374 / 022-68727374 | Support Email: support@phonepe.com
- Paytm – Customer Care Number: 0120-4456-456 | Support Email: care@paytm.com
- Amazon Pay – Customer Care Number: 1800-419-7355 | Support Email: cs-reply@amazon.in
