SBI Issues Public Alert Against Fake Investment Schemes Promising 30% Monthly Returns
The State Bank of India has issued an urgent advisory warning investors against fraudulent online schemes promising up to 30 per cent monthly returns. Released under its National Cyber Security Month campaign, SBI urged the public to avoid 'quick-rich traps', verify SEBI registration, and use only official, trusted financial channels.
The State Bank of India (SBI) has issued a public warning urging investors to exercise caution against fraudulent online investment schemes promising high monthly returns. The public sector lender highlighted the rising prevalence of financial scams as part of its ongoing National Cyber Security Month Special Campaign 6.0, cautioning citizens against lucrative traps designed to siphon off savings.
Warning Against High-Return Traps
Fraudsters have increasingly utilised social media platforms, messaging apps, and unsolicited emails to target unsuspecting individuals with unrealistic financial offers. As part of its consumer awareness initiative, the bank emphasised that unusually high profit claims are primary indicators of fraudulent operations. Replying 'NO' Can Lose Your Savings: Hyderabad Police Commissioner VC Sajjanar Explains How New WhatsApp Scam Works.
SBI Issues Urgent Advisory Against Fake Investment Schemes
In an official post on X, SBI stated: "National Cyber Security Month Special Campaign 6.0 'Earn 30% monthly!' - If it sounds too good to be true, it definitely is! Fraudsters lure victims with fake investment schemes and steal hard-earned money. Don't fall for quick-rich traps. Verify before investing. Choose trusted financial channels Protect your savings. Stay alert, stay safe! @DFS_India @DARPG_GoI @Cyberdost"
Common Red Flags and Modus Operandi
Financial cybercrime investigations show that fraudulent investment networks typically deploy misleading advertisements, fake websites, and unverified links to establish false credibility. Key warning signs identified by financial experts include:
- Promises of guaranteed or abnormally high returns, such as 30 per cent per month.
- Coercion and pressure to invest quickly via peer-to-peer transfers, UPI, cryptocurrencies, or gift cards.
- Promotion through unknown social media influencers and unverified testimonials.
- Demands for sensitive personal or banking information through unsecured external links. What Is 'Jumped Deposit Scam'? SBI Warns of New UPI Fraud Draining Bank Accounts.
Preventive Measures for Investors
To safeguard personal finances against online fraud, the banking institution recommends adhering strictly to verified financial channels and regulatory compliance checks. Investors are advised to rely exclusively on SEBI-registered stock platforms, verify the regulatory credentials of financial service providers, and consult licensed investment advisors. Authorities also recommend avoiding unverified links and obtaining official information directly from authorised bank portals.
(The above story first appeared on LatestLY on Oct 13, 2026 03:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).