The Press Information Bureau (PIB) has issued a critical alert for millions of State Bank of India (SBI) customers, exposing a sophisticated new online fraud. The government's fact-checking unit has identified a deceptive message circulating on SMS and WhatsApp, designed to steal personal and financial information by promising lucrative bank rewards.
How the SBI Reward Points Scam Operates
In a detailed social media post, the PIB highlighted the scam's mechanics. Fraudsters are sending messages that urge recipients to download and install an Android Package Kit (APK) file to supposedly redeem SBI reward points. The PIB attached a screenshot of a typical fake message as an example.
The fraudulent text often reads: "Dear value customer, your SBI net banking reward points ( ₹9980.00) will expire today! Now redeem through SBI reward app install and claim your reward by cash deposit in your account."
The PIB categorically stated that SBI never sends links or APK files via SMS or WhatsApp for reward redemption. The bureau strongly advised the public not to download unknown files or click on any such suspicious links, as they are engineered to compromise devices and steal sensitive data.
A Recurring Threat Despite Repeated Warnings
This latest advisory is part of an ongoing battle against digital fraud. Both SBI and government agencies have been consistently flagging such schemes to protect customers.
Just last month, SBI itself released a similar warning, explicitly asking customers not to click on links or download APK files to redeem "reward points." Shortly before that, the PIB had also taken to social media to caution the public about fraudsters using malicious links and messages.
Despite these repeated alerts, these scams persist, with cybercriminals continuously innovating new methods to exploit trust on platforms like WhatsApp and through SMS.
The Alarming Rise of Online Financial Fraud in India
Such incidents are no longer isolated but reflect a dangerous trend. Fraudsters are constantly devising new ways to target unsuspecting individuals through messages, phishing links, and vishing (voice phishing) calls.
The financial impact is staggering. According to a report by Mint citing Reserve Bank of India (RBI) data, bank frauds surged to a value of ₹36,014 crore in the fiscal year 2024-25. This represents a dramatic 194% increase compared to the previous year, underscoring the scale of the challenge.
In response to this escalating threat, a collaborative effort is underway. Regulators, banks, payment platforms, technology companies, card networks, and telecom operators are now working in tandem to develop systems aimed at detecting and stopping scams early, and helping to apprehend the perpetrators.
The key takeaway for every bank customer remains vigilance. Always verify information directly through official bank channels like their website or customer care, and never install unknown apps or share personal details based on unsolicited messages.
