A new type of cyber scam, known as the "Jumped Deposit" scam, is spreading among UPI (Unified Payments Interface) users. This scam tricks victims into authorizing fraudulent withdrawals from their bank accounts. Learn how it works and the steps you can take to safeguard yourself.

What is the ‘Jumped Deposit’ Scam?

The 'Jumped Deposit' scam is a fraudulent scheme that takes advantage of people's trust to make unauthorized withdrawals using Unified Payments Interface (UPI). In this scam, the fraudster transfers a small amount, usually around Rs 5,000, into the victim's bank account via UPI. This unexpected deposit triggers a notification, prompting the victim to check their balance. While the victim is looking at their account, the scammer quickly submits a withdrawal request. When the victim, curious about the deposit, opens their banking app and enters their PIN to verify it, the scammer's withdrawal gets approved. The amount taken out is often much larger than the original deposit, according to the police.

How the "Jumped Deposit" Scam Works

The scam begins when you receive an unexpected deposit, typically between ₹1,000 and ₹5,000, in your bank account. Curious about the source, you open your banking app to check it. When you enter your PIN to verify the deposit, the scammer uses that action to authorize a withdrawal from your account, draining your funds without your knowledge. The tricky part is that you believe you're simply checking your balance, making it hard to detect the scam.

How to Protect Yourself

To safeguard your account from the "Jumped Deposit" scam, here are some helpful tips:

Don’t check your balance immediately: If you receive an unexpected deposit, avoid checking it right away. Wait for at least 30 minutes before doing so. This gives any fraudulent withdrawal attempts time to expire.

Verify deposits: Contact your bank to confirm the authenticity of any deposit that seems unfamiliar. Always double-check before taking any further action.

Enter an incorrect PIN: If you're unsure about the deposit, try entering an incorrect PIN. This can help you cancel any unauthorized transaction attempts.

Be cautious with sensitive information: Never share your PIN, OTP, or other personal details, even if the request appears to come from your bank.

Additional Tips for Staying Safe

Review your account regularly: Check your bank account every few days to look for any suspicious activity or unauthorized transactions.

Stay cautious of fraudsters pretending to be bank employees:  Always be cautious and verify their identity before sharing any information.

By staying vigilant and following these simple steps, you can protect yourself from falling victim to the "Jumped Deposit" scam.