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.
In a Jumped Deposit Scam, scammers claim to have “accidentally” credited a small amount to your account to win your trust. 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. “Beware of Jumped Deposit Scam! When you try to return it, they trick you into approving a high-value payment request,” wrote SBI in a post shared on social media platform X (formerly known as Twitter).
The scam begins when fraudsters claim to have “accidentally” transferred a small amount of money into a customer’s bank account, according to SBI. The scammer then contacts the victim and requests that the money be returned.
SBI’s advice to users
Apart from this, it is also advisable to never approve any payment request that you didn’t start yourself. Also, if you see a credit you can’t explain, don’t send anything back yourself. Contact your bank through its official number or branch and let it handle the reversal.