New Delhi: The State Bank of India has warned customers about a digital fraud known as the “Jumped Deposit Scam,” in which fraudsters first send a small amount of money to a victim’s account and then trick them into approving a larger UPI collect request. The bank has urged customers to stay alert and verify any unexpected credit before taking action.
Small Deposit Used to Build Trust
According to SBI, the scam begins when fraudsters transfer a small amount, sometimes just a few rupees or a few hundred rupees, into a person’s bank account. Soon after, the victim receives a call or message claiming that the money was sent by mistake.
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The caller may sound distressed or claim to be facing an emergency, asking the victim to return the amount immediately. This creates a sense of urgency and encourages the victim to act without checking the transaction details properly.
Instead of asking for a direct transfer, the fraudster sends a UPI collect request or payment approval notification. Believing they are returning the mistakenly credited amount, victims may approve the request without noticing that the amount is much higher than the original deposit.
UPI PIN Means Money Is Leaving Account
SBI has reminded customers that a UPI PIN is required only when money is being debited from an account. If a transaction asks for a PIN, users should carefully check whether they are sending money or receiving it.
The scam does not depend on hacking or technical vulnerabilities. It works because victims themselves authorise the payment after being manipulated through trust, sympathy and urgency.
Cybercrime expert and former IPS officer Prof. Triveni Singh said fraudsters increasingly use social engineering rather than technical loopholes. He said unexpected credits, refund requests and payment approval messages should always be verified through official banking channels before any action is taken.
Bank Urges Reporting Through Official Channels
SBI has advised customers not to panic if an unknown amount appears in their account and not to engage with strangers claiming to have transferred money accidentally. Customers should first check their banking app or account statement and contact the bank directly if the source of the funds is unclear.
The bank has also warned users not to approve UPI collect requests from unknown persons and to be cautious of messages that create urgency or emotional pressure. Suspicious numbers should be blocked, and questionable activity should be reported to the bank.
SBI said customers should trust only genuine banking communications from numbers beginning with “1600.” If fraud is suspected or a suspicious transaction has already been authorised, customers should immediately call the national cyber fraud helpline 1930, file a complaint through the National Cyber Crime Reporting Portal and inform their bank.
