Unexpected money in your account? SBI warns of 'jumped deposit scam'

Scammers are sending small deposits first, then pushing victims to approve larger transactions

Receiving unexpected money in your bank account may seem harmless, but State Bank of India (SBI) says it could be the first step in a sophisticated UPI fraud designed to empty your account.

 

SBI recently advised customers against the “jumped deposit scam”, where fraudsters deliberately transfer a small amount of money into a victim's bank account and then contact them claiming the transfer was accidental. The objective is not to recover the money but to manipulate the victim into authorising a much larger payment.

 

The warning comes at a time when digital payment frauds continue to evolve, with scammers exploiting trust and human behaviour rather than technical loopholes.

 

 

How does the scam work?

According to SBI, the fraud typically unfolds in stages:

 

A scammer transfers a small amount, often a few rupees or a few hundred rupees, into a person's bank account.

 

The victim then receives a phone call or message claiming that the transfer was made by mistake.

 

The fraudster may sound polite, distressed or even desperate, requesting an immediate refund.

 

Instead of asking the victim to send the money directly, the scammer sends a UPI “collect request” or payment approval request.

 

Believing they are merely returning the accidental transfer, the victim approves the request.

 

The approved transaction can be for a significantly higher amount than expected, resulting in financial loss.

 

SBI said fraudsters often create a sense of urgency, using emotional appeals or fabricated emergencies to pressure victims into acting quickly without verifying the details.

 

Why the fraud is effective

 

The scam works because it exploits a natural human tendency to help others correct a mistake. Many people assume that returning an accidental payment is the right thing to do and may not carefully examine the payment request they receive.

 

Unlike traditional phishing attempts, where scammers ask for passwords or OTPs, this fraud often succeeds because victims themselves authorise the transaction.

 

Cybersecurity experts have long noted that social engineering attacks are among the most successful forms of financial fraud because they manipulate trust rather than attempting to break technological safeguards.

 

What should you do if money appears unexpectedly?

SBI advises customers not to engage with unknown callers who claim to have accidentally transferred funds.

 

Instead, customers should:

 

• Verify the transaction through their banking app or bank statement.
• Contact their bank directly if they are unsure about the source of the money.
• Avoid approving any UPI collect requests received from unknown individuals.
• Ignore requests that create urgency or emotional pressure.
• Block suspicious numbers immediately.
• Report the incident to the bank at the earliest opportunity.

 

The bank has specifically advised customers not to fall for emotional blackmail or emergency payment requests without proper verification.

 

Watch out for UPI collect requests

One of the most important aspects of the scam is understanding the difference between receiving money and authorising a payment.

 

Many users assume that a UPI notification automatically means money is being credited to their account. In reality, some notifications are payment requests that require approval. Once approved, funds move out of the account.

 

Before entering a UPI PIN, users should carefully read the transaction screen and confirm whether they are receiving money or sending it.

 

As a general rule, a UPI PIN is required only when money is leaving an account. If a transaction asks for a PIN, customers should carefully review the request before proceeding.

 

How to report fraud

SBI has urged customers to respond only to calls originating from numbers prefixed with "1600", which are used for genuine bank communications.

 

If a customer suspects fraud or has already authorised a suspicious transaction, immediate reporting is critical.

 

Victims can:

 

• Call the national cyber fraud helpline on 1930.
• File a complaint through the National Cyber Crime Reporting Portal.
• Inform their bank without delay.

 

Prompt reporting can improve the chances of preventing further losses and may help authorities trace fraudulent transactions.