Close X
Thursday, November 28, 2024
ADVT 
India

Bank manager among two more held in Hyderabad in Rs 175 crore fraud

Darpan News Desk IANS, 28 Aug, 2024 04:37 PM
  • Bank manager among two more held in Hyderabad in Rs 175 crore fraud

Hyderabad, Aug 28 (IANS) The Telangana Cyber Security Bureau on Wednesday arrested two more persons including a bank manager in connection with Rs 175 crore fraud.

Upadhya Sandeep Sharma, a gym trainer, and Madhu Babu Gali, the manager of State Bank of India’s Shamshergunj branch have been arrested for their alleged involvement in the case. With this, the number of arrests in the case rose to four.

A case was registered against them under 66D of the IT Act, and sections 318(4), 319(2), and 338 of the BNS Act at the Cyber Crime Police Station, Hyderabad, based on a suo motto complaint, Telangana Cyber Security Bureau Director Shikha Goel said.

The branch manager of SBI Shamsheergunj colluded with fraudsters, facilitating the opening of current bank accounts, aiding in the withdrawal of funds, and orchestrating the diversion of money, all in exchange for commissions, she said.

The fraud was busted by the Cyber Security Bureau with the arrest of two persons - Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir - on August 24.

The Cyber Security Bureau's data analysis team detected numerous complaints reported on the NCRP portal against six bank accounts in the SBI's Shamsheergunj branch. The investigators found that large sums of money were transacted through these accounts in March and April 2024. The account holders were suspected of being involved in large-scale cyber fraud. Approximately 600 complaints were linked to these accounts.

According to the Cyber Security Bureau, the main fraudster, operating from Dubai, and his five associates were actively involved in luring poor people into opening bank accounts and supplying them for use in cybercrimes and hawala operations on a commission basis. It said Shoeb played a key role in opening bank accounts and preparing all necessary documents. After opening the accounts, the signatures of the account holders were obtained on the cheques, which were then kept in the custody of one of the associates.

Some of the money was sent to Dubai through cryptocurrency. The associates withdrew the money following the directions of the main fraudster and distributed it to various individuals through his agents.

Following the main fraudster’s directions, Shoeb and other associates convinced some poor individuals to open six current accounts in the SBI's Shamsheergunj branch in February 2024, luring them with commissions.

In March and April, significant transactions occurred in these six accounts, totalling approximately Rs 175 crore.

The Cyber Security Bureau has cautioned people not to open a bank account for someone else or engage in suspicious transactions. "If you have already opened a mule account, report it to 1930 or cybercrime.gov.in. Be cautious of unsolicited offers to open bank accounts. Verify the identity and credentials of anyone asking you to open an account and monitor your account activity regularly," it said.

 

MORE India ARTICLES

Excise policy case: Delhi court to hear Manish Sisodia's bail application on April 15

Excise policy case: Delhi court to hear Manish Sisodia's bail application on April 15
A Delhi court on Wednesday said that it will hear, on April 15, the bail application of former Delhi Deputy Chief Minister Manish Sisodia in the excise policy-related money laundering case. Special Judge Kaveri Baweja of Rouse Avenue Court on Wednesday heard arguments from Sisodia's counsel, who opposed the submissions made by the ED, saying that the probe agency was reiterating arguments previously presented before both the Delhi court and the Supreme Court.

Excise policy case: Delhi court to hear Manish Sisodia's bail application on April 15

ED questioning CM Kejriwal's PA in Delhi excise scam case, say sources

ED questioning CM Kejriwal's PA in Delhi excise scam case, say sources
The Enforcement Directorate (ED) was questioning Delhi Chief Minister Arvind Kejriwal's PA (Personal Assistant) Bibhav Kumar in the alleged excise policy scam, sources said on Monday. Sources further revealed that the ED has summoned AAP MLA Durgesh Pathak in the case.

ED questioning CM Kejriwal's PA in Delhi excise scam case, say sources

Lingayat seer to contest against Prahlad Joshi from Dharwad in K'taka

Lingayat seer to contest against Prahlad Joshi from Dharwad in K'taka
Fakir Dingaleshwara Mahaswami, a Lingayat pontiff from the Shirahatti Bhavaikyata Maha Sansthan, on Monday declared his candidacy as an Independent nominee for the Dharwad Parliamentary seat in Karnataka. This announcement sets the stage for a compelling electoral battle between BJP's Union Minister Pralhad Joshi, who is seeking renomination from the seat for the fifth consecutive term, and the Lingayat seer.

Lingayat seer to contest against Prahlad Joshi from Dharwad in K'taka

Viksit Bharat Ambassador meet-up: Hardeep Puri lists milestones, sheds light on country’s transformational journey

Viksit Bharat Ambassador meet-up: Hardeep Puri lists milestones, sheds light on country’s transformational journey
Hardeep Singh Puri, the Minister of State (Independent charge) for Housing and Urban Affairs, on Monday, spoke about the transformational changes in the country under the Narendra Modi government and also explained how the Centre was facilitating an enabling atmosphere for the private sector to chip in with their contributions. 

Viksit Bharat Ambassador meet-up: Hardeep Puri lists milestones, sheds light on country’s transformational journey

Sukhbir Badal accuses Punjab CM of insulting Bhagat Singh

Sukhbir Badal accuses Punjab CM of insulting Bhagat Singh
President Sukhbir Singh Badal on Monday urged people to boycott Punjab Chief Minister Bhagwant Mann for 'insulting' freedom fighter Bhagat Singh by 'misusing' the martyr’s native village to hold a protest demanding the release of liquor scam accused and Delhi Chief Minister Arvind Kejriwal.

Sukhbir Badal accuses Punjab CM of insulting Bhagat Singh

When PM Modi's out of the way gestures won hearts of people, politicians & sportspersons

When PM Modi's out of the way gestures won hearts of people, politicians & sportspersons
Prime Minister Narendra Modi believes in leading by example and abides by what he says or promises. His appeal and charisma continue to inspire the billion-plus population, while there are many instances of his statesmanship which has left leaders cutting across political lines enamoured. Here is a compilation of such instances which endeared him to people's hearts.

When PM Modi's out of the way gestures won hearts of people, politicians & sportspersons