NPCI clarifies on ‘Jumped Deposit’ scam in UPI payments, dismisses any fraud incidents

The National Payments Corporation of India (NPCI) clarified recent media reports about a so-called “Jumped Deposit” scam, emphasizing that no fraudulent incidents, as mentioned in the reports, have been found on the UPI platform, on Monday.

“In light of recent media reports concerning a new online fraud called ‘Jumped Deposit’ Scam, we have observed certain inaccuracies and technical discrepancies in these descriptions, that has led to unnecessary panic and confusion among users about the UPI platform,” NPCI said in a statement.