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Crime
SBI Alerts Customers About Rising 'Jumped Deposit' Scam Targeting Online Banking
✍️ Times of India
🗓 12 Oct 2026, 10:47 AM
👁 14
The State Bank of India has warned customers of a new scam where fraudsters make small deposits to build trust before forcing larger payments. The bank urges users to verify suspicious messages, block unknown contacts, and report any unexpected transactions.
The State Bank of India (SBI) has issued a warning to its customers about a growing threat known as the "Jumped Deposit" scam, which targets users of online banking platforms. In this scheme, fraudsters first make a modest deposit into a victim’s account to establish credibility. Once trust is gained, they pressure the account holder to approve larger, often unauthorized, payments.
SBI explains that the initial deposit is used as a psychological lever; the victim assumes the transaction is legitimate and is more likely to comply with subsequent requests. The scam can involve multiple small deposits before a final, large transfer is demanded.
To protect themselves, SBI urges customers to scrutinise any unexpected communication, especially messages that ask for approval of new or larger transfers. The bank recommends blocking any unfamiliar contacts and immediately reporting any suspicious or unanticipated transactions to the bank’s fraud helpline.
With several incidents reported across the country in recent weeks, the bank stresses that vigilance and prompt action are key to preventing loss. Customers are encouraged to verify transaction details through official channels before authorising any payment.
SBI explains that the initial deposit is used as a psychological lever; the victim assumes the transaction is legitimate and is more likely to comply with subsequent requests. The scam can involve multiple small deposits before a final, large transfer is demanded.
To protect themselves, SBI urges customers to scrutinise any unexpected communication, especially messages that ask for approval of new or larger transfers. The bank recommends blocking any unfamiliar contacts and immediately reporting any suspicious or unanticipated transactions to the bank’s fraud helpline.
With several incidents reported across the country in recent weeks, the bank stresses that vigilance and prompt action are key to preventing loss. Customers are encouraged to verify transaction details through official channels before authorising any payment.