Top News

Online Money Transfer: This is what the National Payments Corporation of India (NPCI) has revealed. They have said how secure your UPI is.  

 

Online Money Transfer: The countrymen are losing sleep over this recent fraud. The UPI payment system has increased the concern of the common man. Reports say that money disappeared in South India after giving the UPI PIN. The National Payments Corporation of India (NPCI) has now opened its mouth about this. They have said how secure your UPI is.  

 The fear surrounding the jumped deposit scam
 has been in the headlines for the past few days. Now the National Payments Corporation of India (NPCI), the maker of UPI, has given a clarification on this issue. NPCI said that no such fraud has been reported on the UPI platform so far. NPCI said that UPI is a device-based payment system that links the user's bank account with the person's registered mobile number and device. It is completely safe.

What is Jumped Deposit Scam?
A few days ago, Tamil Nadu Police had issued an alert regarding this. In this scam, cyber crooks first send some money to the person's account. After this, they immediately send a request to withdraw the money from the 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 fraudsters' withdrawal request gets approved. As a result, the money disappears from the person's account unknowingly. 

What did NPCI say?
NPCI said in its statement, no such incident has taken place on the UPI platform. Media reports have mentioned some technical glitches, due to which confusion and fear has spread among the people about the UPI platform. No transaction is authorized by opening the UPI app or any bank app. If the user does not provide his UPI PIN, then no transaction can be completed. Users can only make transactions here themselves. 

NPCI has said that no external party can request withdrawal from a user's account. Only the user can make any transaction or withdrawal. No withdrawal request is allowed just by providing the PIN number.