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Jumped Deposit Scam: Jumped Deposit Scam has been in the headlines for the last few days. Now the National Payments Corporation of India (NPCI), which developed UPI, has clarified about it. NPCI has said that no such fraudulent incident has come to light on the UPI platform so far. NPCI has said that UPI is a device based payment system, which connects the users' bank account to the person's registered mobile number and device. It is completely safe.

What is a Jumped Deposit Scam?

A few days ago, Tamil Nadu Police had issued an alert regarding this. In this scam, cyber thugs first send some money to the person's account. After this, they immediately request a withdrawal from that person's account. After receiving the money, people usually open the UPI app to check their bank account. For this, as soon as they enter their PIN, the withdrawal request put by the fraudsters gets approved and the money is withdrawn from the account.

What has NPCI said?

NPCI has said in its statement that no such incident has happened on the UPI platform. There are some technical glitches in the things mentioned in the media reports, due to which confusion and fear has spread among the people about the UPI platform. It further states that no transaction is approved by merely opening the UPI app or any bank app. If the user does not enter his UPI PIN, then no transaction can be completed.

Only the user himself can do the transaction - NPCI

NPCI has said that no external party can request for withdrawal from a user's account. Only the user can initiate any transaction or withdrawal process. No withdrawal or payment request is approved by just entering the PIN number.

Disclaimer: This content has been sourced and edited from abplive. While we have made modifications for clarity and presentation.