Indore: Fraud of Crores Through Banking System Misuse Uncovered
A case of massive fraud involving the misuse of the banking system has come to light in Indore. Four employees of ICICI Bank conspired to defraud customers by changing passwords and conducting online purchases worth crores of rupees from the accounts of traders in Indore, Punjab, Gujarat, and Telangana.
How Was It Uncovered?
The scam was exposed after complaints surfaced about unauthorized transactions from current accounts without sharing OTPs. Police arrested the accused from Indore, Telangana, and Manasa. According to DCP Abhinay Vishwakarma, the arrested include Kamal Kumawat, Abhishek Malviya, Stanley Jacob, Lovedeep Singh, and Krishna Kumar Thakur. Among them, Abhishek is a resident of Kagaznagar, Telangana.
Misuse of Fake SIM Cards and Software
Kamal, employed as a Relationship Manager at ICICI Bank's Winway World Office in Vijay Nagar, Indore, handled customer calls from various cities. Through the bank's 'iView' software, he had access to customers' transaction details and OTPs. Tempted by this access, Kamal devised a fraudulent plan.
Fake SIM Cards from Telangana
The group purchased fake SIM cards from the Telangana circle, which were used to create new IDs. These IDs were then used to create accounts on online shopping platforms, enabling the purchase of expensive items such as iPhones, gaming consoles, and e-gold.
How Were They Arrested?
When the bank received complaints about unauthorized transactions without OTP or password sharing, officials contacted the police for investigation. The police tracked the transactions and obtained account details of the accused.
Attempt to Mislead Police
As complaints increased, the accused devised a plan to mislead the police. Kamal persuaded his neighbor, Lovedeep, to destroy the fake SIM cards in exchange for expensive phones. Lovedeep traveled to Telangana, inserted the SIM cards into mobile phones, and destroyed them to create the impression that the mastermind was operating from Telangana.
Recovery and Further Investigation
The police seized expensive mobile phones, laptops, and digital watches worth ₹19 lakh from the accused. The total fraud amount has been estimated to exceed ₹53 lakh. Additionally, the remaining funds in the accused's bank accounts have been frozen. The police are continuing their investigation to identify other individuals involved in the scam.
Source: ANI.
