Police Questioning MDs of 4 banks after 11 arrests relating to Staffer’s links with Cyber Frauds

Gurgaon: Police has recently arrested bankers in cyber fraud investigations, city police have asked Managing Directors of 4 banks to appear in person next week to explain why legal action should not be taken against them. Police has arrested 11 bankers since February 21 for presumably opening current and saving accounts for threat actors to deposit defrauded money

It involves reputed banks: Yes Bank, ICICI Bank, RBL Bank, Kotak Mahindra Bank

Cyber investigators noticed fraudulent transactions on accounts from these banks and holder of account was unaware of opening any such account.

On investigating deeper, the role of bankers in helping cyber criminals open accounts came to light, in each case the account holder charged a high commission to open account, indicating they were awareof what they are doing.

Many people have been tricked by criminals who promise to give them a lot of money through fake investments and tasks.

DCP Cyber Crime Siddhant Jain reported that in the start of investigation it was revealed that:

1. As beneficiary was unaware of bank account opening in his name, then bankers are investigated.
2. Police have found that bankers have used ID and address proofs collected from factory workers and laborers.
3. Cyber criminals obtained access to bank accounts of workers b offering them money.
4. Cops also noticed used of Fake IDs, address proofs, and forged signatures used to open bank accounts.

Due to above investigations managing directors are questionable regarding their employee’s activities. Police has arrested employees from Kotak Mahindra Bank’s MG Road branch, and they confessed that several bankers are involved in fraudulent acts.