SBI Alerts Customers Against 'Jumped Deposit Scam' Targeting UPI Users

The State Bank of India (SBI) has issued a nationwide advisory urging customers to remain vigilant against a growing financial fraud known as the 'Jumped Deposit Scam.' As part of the National Cyber Security Special Campaign 6.0, the lender warned that fraudsters are increasingly using psychological tactics to compromise bank accounts, specifically targeting users of online banking and UPI platforms.According to the bank, the scam typically begins with fraudsters depositing a small, unexpected amount into a victim's account. The perpetrators then contact the individual, claiming the transfer was made accidentally and requesting that the money be returned. Instead of a standard reversal, the scammers send a fraudulent payment collect request or a transaction trigger designed to trick the victim into authorizing a payment of a much larger value than the original deposit. The bank noted that these criminals often rely on creating a sense of false urgency or simulating emergency situations to pressure users into approving transactions without proper verification.To protect against such manipulation, SBI has advised customers to never authorize payment requests that they did not personally initiate. If an account holder discovers an unexplained credit, the bank recommends they do not attempt to return the funds themselves. Instead, customers should contact their branch or use official banking channels to facilitate a formal reversal.Furthermore, the bank has outlined specific security protocols for its users. Customers are encouraged to immediately block and report any suspicious numbers associated with such requests. SBI also emphasized that genuine communication from the bank will typically come from numbers starting with the prefix 1600. The institution reiterated that under no circumstances should users yield to emotional pressure or respond to emergency UPI requests without thorough verification. By following these steps, the bank aims to mitigate the risk of financial loss stemming from this rising trend of digital deception.