SBI has warned bank customers about the jumped deposit scam, in which fraudsters exploit unexpected bank credits to trick victims into approving high-value UPI payments. Learn how the scam works, recognise warning signs and protect your bank account from digital payment fraud.
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The State Bank of India (SBI) has issued a serious warning to customers and citizens across the country about a ‘jumped deposit’ scam. In this scam, fraudsters allegedly exploit unexpected banking credits to trick innocent victims into authorising high-value payments through the Unified Payments Interface (UPI).
Having a clear understanding of this scam and its various forms is vital for citizens in order ot protect their financial interests. Keeping this in mind, let us discuss the basics of this scam in detail and the ways that can be deployed by individuals to keep themselves safe.
In a post on X on 10 October 2026, as part of its National Cyber Security Month Special Campaign 6.0, SBI urged customers to remain aware and vigilant when someone claims to have mistakenly transferred money and asks for its return. This simply means that the scam is generally initiated by a seemingly harmless transfer into your account from someone completely unknown to you.
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