Alert Bank Users! Fraudsters Transfer Rs 1.32 Crore From Bank in Bangalore By Sending 18 Fake Court Orders

Bangalore News: Three fraudsters transferred nearly Rs 1.32 crore from ICICI Bank branch in Bangalore by sending more than 18 fake court orders to ICICI Bank's nodal email ID.

According to a Deccan Herald report, fraudsters created fake government email IDs and sent multiple fake court orders to an ICICI Bank branch in Halasuru to direct them to defreeze money frozen in various cyber investigations. Those fraudsters ordered the bank branch officials to transfer the money from frozen accounts to a certain account number.

The accused persons have been arrested by Cybercrime police and have been identified as Abhimanyu Kumar Panday and Neeraj Singh of New Delhi and Rajasthan.

Bank Fraud: How Fraudsters Duped Bank Officials?

As per the Deccan Herald report, one of the culprits created their fake government email ID by providing false information to the Karnataka State Wide Area Network (KSWAN). The network was created by the Central Government for the e-governance of the state government. WAN service was exclusively available for government officials and was created to provide secure network connectivity and bandwidth upgrades to state government departments.

The culprits allegedly used an email ID and sent fake court order copies to the nodal email ID of ICICI Bank at Halasuru Gate in Bangalore. As per the report, the bank had frozen some accounts of defaulter customers. The accused persons collected all the information about frozen accounts and formulated a plan to send emails from the fake government IDs to dupe the bank officials.

Days after collecting information, accused persons allegedly sent more than fifteen court orders to the bank's email address. Bank officials were directed to release the funds from the mentioned accounts.
The bank officials were later contacted by the accused persons on call, who asked them to release the funds from frozen funds. The bank official who was contacted by the fraudsters cross-verified the email IDs and details of the frozen accounts and performed the transactions.

Bank Fraud: How Were The Accused Arrested?

The bank fraud came into light when the Bangalore's bank branch manager suspected the transaction and filed a complaint with the cyber police. THe police officials began their investigation and found the details of the account which received the funds of the frozen accounts.
The officials sent notices to the owner of the bank account branch and held the owner for interrogation. The person later confessed about the crime and shared the details of the other two people involved in the bank fraud.

Bank Fraud: Accused Learnt Fraud Trick From Fellow Prisoners

The Bangalore police investigations also revealed that one of the accused persons was arrested by Ahmedabad police in another cybercrime case. While he was inside the jail, he learnt other cybercrime tricks from fellow prisoners in Ahmedabad, reported Deccan Herald. It is suspected that the accused persons colluded with a bank employee in Bangalore to get details about the frozen bank accounts.

In a separate incident of fraud in Bangalore, police arrested multiple people, including an Axis Bank employee, for allegedly siphoning off over Rs 12 crore from the city-based Dreamplug Paytech Solutions Private Limited.