SBI warns customers of rise in Jumped Deposit Scam, here’s what it is and his to stay safe

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. 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).