SBI warns of 'Jumped Deposit Scam': What it is and how to stay safe
The State Bank of India has issued a warning regarding a 'Jumped Deposit Scam' where fraudsters trick victims into authorizing large payments after sending small, unsolicited deposits. The bank advises users to block suspicious numbers and avoid approving unexpected payment requests.
Why it matters
This scam exploits digital payment systems to defraud users, highlighting the need for increased vigilance in mobile banking.
State Bank of India (SBI) has alerted the customers about the increasing online fraud known as the ‘Jumped Deposit Scam’. SBI has asked the customers to not trust unexpected credits received in their bank accounts and to remain cautious of suspicious payment requests. As part of the National Cyber Security Special Campaign 6.0, the country’s largest bank said that the fraudsters are using small deposits to gain the trust of victims before attempting to steal larger amounts via UPI payment requests. “Beware of Jumped Deposit Scam! In a Jumped Deposit Scam, scammers claim to have "accidentally" credited a small amount to your account to win your trust.
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