Jump Deposit UPI Fraud: Tips to Safeguard Your Money

Posted on Wednesday, March 5th, 2025 | By IndusInd Bank

With the meteoric rise of digital payments in India, fraudsters are constantly finding new ways to exploit unsuspecting users. One such scam that has emerged recently is the Jump Deposit UPI Fraud. This scam preys on users’ trust in UPI transactions and banking systems, tricking them into transferring money unknowingly.

As more people rely on UPI for seamless transactions, it’s crucial to stay informed about such scams and take necessary precautions to safeguard your money. In this article, we’ll break down what Jump Deposit UPI Fraud is, how it works, real-life cases, and effective ways to protect yourself from falling victim.

What is Jump Deposit UPI Fraud?

Jump Deposit UPI Fraud is a deceptive tactic used by cybercriminals to manipulate victims into unknowingly authorizing fraudulent transactions. The scam is named ‘Jump Deposit’ because it involves tricking users into thinking they are receiving money, whereas, in reality, they end up sending money instead.

This type of fraud often exploits the Request Money feature in UPI apps, where fraudsters pose as legitimate businesses, acquaintances, or even bank officials to convince users to approve a fraudulent request. Unlike traditional phishing scams, Jump Deposit UPI Fraud often does not involve sharing OTPs or passwords, making it harder for victims to detect.

How Jump Deposit UPI Fraud Works?

The Jump Deposit scam typically follows these steps:

• The scammer sends a Request Money notification to the victim’s UPI app, disguised as a refund, cashback, or salary credit.
• To make it look convincing, fraudsters may use messages like “Refund from XYZ Bank,” “Cashback from ABC Store,” or “Deposit from Company Payroll.”
• If the victim mistakenly believes they are receiving money, they might approve the request without realizing that this action is actually authorizing a debit from their account.
• Once the victim approves the request, the specified amount is immediately deducted from their bank account and sent to the fraudster.
• Since UPI transactions happen in real-time and are difficult to reverse, the fraudster quickly transfers the stolen amount to multiple accounts, making recovery nearly impossible.

Real-Life Examples of Jump Deposit UPI Fraud

Several instances of Jump Deposit UPI Fraud have surfaced across India. Here are a few real-life cases:

• The Cashback Scam: A Pune-based businessman received a UPI request claiming to be a cashback from an e-commerce platform. Without checking the details, he approved the request, only to realize later that ₹20,000 had been debited from his account.
• The Fake Salary Credit: A job seeker in Bengaluru was tricked by a fraudster pretending to be an HR executive from a reputed company. The scammer claimed that the victim’s first salary was being credited but needed “verification.” The victim approved a ₹10,000 request, unknowingly losing the money.
• The Electricity Bill Refund Scam: A fraudster impersonated a power company’s customer service executive and informed a Delhi resident about an electricity bill overpayment. The victim was asked to approve a refund via UPI, resulting in an unauthorized withdrawal of ₹15,000.

Tips to Protect Yourself from Jump Deposit UPI Fraud

To safeguard your money, follow these essential tips:

• Never Approve Unknown UPI Requests: If you receive a UPI payment request from an unknown source, do not approve it. Verify the sender before taking any action.
• Double-Check Transaction Details: Before accepting or approving any UPI request, read the transaction details carefully. A genuine credit will not require approval.
• Be Wary of Unexpected Refunds or Deposits: If someone claims you are receiving a refund or deposit, verify it directly with the concerned company or person before taking any action.
• Avoid Clicking on Suspicious Links: Scammers often send fake SMS or emails with links claiming to offer refunds. Never click on such links or enter your banking details.
• Use UPI Apps with Strong Security Features: Ensure that you use official UPI apps from banks or reputed platforms like Google Pay, PhonePe, or Paytm, which offer multi-layer security.
• Enable Transaction Alerts: Keep SMS and email notifications enabled for all banking transactions so you can spot any unauthorized activity instantly.
• Report Suspicious Activities Immediately: If you notice any unusual UPI request or transaction, report it to your bank and UPI service provider immediately.
• Educate Yourself and Others: Spread awareness about Jump Deposit UPI Fraud among family and friends to help them stay vigilant.

What to Do If You Fall Victim to Jump Deposit UPI Fraud

If you suspect that you’ve been scammed, take immediate action:

• Contact Your Bank: Inform your bank about the unauthorized transaction and request them to block your account if necessary.
• Raise a Complaint on the NPCI Portal: You can report UPI fraud on the NPCI (National Payments Corporation of India) website by providing transaction details.
• File a Cyber Crime Complaint: Register a complaint on the Government of India’s Cyber Crime Portal or call the cybercrime helpline at 1930.
• Notify Your UPI App Provider: Inform platforms like Google Pay, PhonePe, or Paytm about the fraud so they can take preventive measures.
• Monitor Your Bank Account: Keep a close watch on your account for any suspicious transactions in the following weeks.
• Educate Yourself to Avoid Future Scams: Learn from the experience and be extra cautious while handling UPI transactions in the future.

Conclusion

Jump Deposit UPI Fraud is a growing threat in India’s digital banking landscape. Fraudsters are constantly innovating new ways to deceive unsuspecting users, making it essential for everyone to stay informed and cautious. By following best practices like verifying transactions, avoiding unknown UPI requests, and reporting suspicious activities promptly, you can protect your hard-earned money from falling into the wrong hands.

 Stay vigilant, educate yourself and others, and always double-check before approving any UPI transaction. After all, a little caution today can save you from financial losses tomorrow!