Be alert if money suddenly appears in your account! SBI reveals a new method of UPI fraud..

As the use of digital payments grows, the methods used for online fraud are also evolving. Fraudsters are now attempting to scam people by sending small amounts of money to their bank accounts. This type of fraud is known as the "Jumped Deposit Scam." In this scheme, fraudsters first transfer money to an unsuspecting person's account and then ask for it back, claiming it was a mistake. By creating a sense of urgency and pressure, they may try to get the victim to approve a UPI payment for a much larger amount.

How does the Jumped Deposit Scam work?
This scam begins with an unexpected deposit into a bank account. Subsequently, the victim receives a call or message from an unknown number. The caller claims to have accidentally transferred money to the victim's account and requests an immediate refund.

Fraudsters use small amounts to gain the victim's trust. They then pressure the victim to return the money quickly. In some instances, they ask the victim to approve a UPI payment request. If the individual approves a payment for a large amount without verifying the details, money could be debited from their account.

Therefore, one should not simply trust a request to return money. First, verify the actual transaction in your bank account.

Understand this before entering your UPI PIN
The processes for sending and receiving money via UPI differ. To send money to someone, it is necessary to verify the payment details and authorize the transaction by entering the UPI PIN.

The National Payments Corporation of India (NPCI) has previously clarified that merely opening a UPI or banking app does not automatically authorize a payment. To complete a transaction, the user must select the relevant payment option and authorize it.

This means you should not accept a payment request based solely on the word of an unknown person. Do not share your UPI PIN with anyone, and carefully check the amount displayed on the screen. 

What advice did SBI give to its customers?
In an awareness message issued on October 10, 2026, the State Bank of India advised customers to remain vigilant against "jumped deposit" scams. The bank cautioned against blindly trusting claims made by strangers who say they sent money by mistake and demand an immediate refund.

If funds suddenly appear in your account, verify the transaction through official banking channels. Block the number of any suspicious caller and report the matter to your bank.

What should you do if money is credited to your account by mistake?
First, verify the actual credit in your bank statement or official banking app. If the money has indeed been received, do not transfer it yourself to another UPI number; instead, contact the bank and follow the proper procedure.

If you have inadvertently approved a suspicious payment, inform the bank immediately. In the event of cyber financial fraud, contact the National Cyber ​​Crime Helpline at 1930 or file a complaint at cybercrime.gov.in.

Remember, a notification stating that money has been credited to your account is not, in itself, proof of a scam. However, pressure from a stranger to return the money quickly, combined with a demand for the payment of a large sum, can be a red flag. You can keep your bank account secure by staying vigilant and verifying transactions.

Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.