Karnataka Police arrest bank manager-led gang for siphoning Rs 12.51 crore via corporate data theft
The Karnataka Police have arrested a gang of four individuals, led by the Manager of the Corporate Division at Axis Bank in Gujarat, for siphoning off crores of rupees by stealing sensitive data from a company, officials said on Saturday.
Bengaluru: The Karnataka Police have arrested a gang of four individuals, led by the Manager of the Corporate Division at Axis Bank in Gujarat, for siphoning off crores of rupees by stealing sensitive data from a company, officials said on Saturday.
The Bengaluru East CEN police (Cybercrime, Economic Offences, Narcotics) apprehended the suspects and seized Rs 1.83 crore in cash, two mobile phones, and a fake Corporate Internet Banking (CIB) form, according to Bengaluru Police Commissioner B. Dayanand.
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The investigation began after the Director of Dream Plug Pay Tech Solutions Private Limited (CRED) in Bengaluru filed a police complaint on November 15 with the CEN East police station. The complaint alleged the siphoning of Rs 21.51 crore from the company’s accounts and requested an investigation.
According to the complaint, the company’s nodal and current bank accounts were with the Indiranagar branch of Axis Bank in Bengaluru. Strangers had gained access to the email addresses and contact numbers associated with these accounts.
The cyber fraudsters stole the company’s data, forged CIB forms, and falsified signatures and seals to facilitate the transfer of Rs 12,51,13,000 to 17 different bank accounts.
After registering the complaint, the East CEN police launched an investigation and arrested the primary suspect, who worked as the Manager of the Corporate Division at Axis Bank in Gujarat. The investigation revealed that the accused, in collusion with others, had stolen the company’s data and committed the crime.
The kingpin created fake Corporate Internet Banking (CIB) forms and Board Resolutions for the company and submitted them to the Ankleshwar branch of Axis Bank in Bharuch district, Gujarat. Using these forged documents, the accused gained access to the company’s internet banking accounts and transferred funds to 17 mule accounts in Rajasthan and Gujarat.
The four suspects were apprehended on December 20 in Surat, Navsari, and Rajkot in Gujarat. They were produced in a local court and subsequently brought to Bengaluru for further investigation.
The accused were remanded to 10 days of police custody. The police recovered Rs 1.28 crore in cash and Rs 55 lakh from the mule bank accounts associated with the crime.
The case was cracked by a team led by DCP East D. Devaraj, ACP Laxmikanth of CEN East police station, and Inspector Umeshkumar.
Six people were arrested in connection with cyber fraud of Rs 56 lakh in Bengaluru on December 24. Bengaluru Police Commissioner B. Dayanand had said: “The accused duped a company by impersonating its Managing Director (MD). Using the MD’s photograph and the company logo as a WhatsApp display picture, one of the accused sent a message to the company’s employee asking for an urgent transfer of Rs 56 lakh, claiming it was needed as a security deposit.”
An incident of cyber criminals conning a Japanese national and extorting Rs 35 lakh from him has been reported from Bengaluru recently. Hiroshi Sasaki, a 59-year-old Japanese national, had lodged a complaint in this regard with the South East Cybercrime, Economic offences, Narcotics (CEN) Crime police station.
An incident of a software professional losing Rs 11 crore after falling victim to digital arrest was reported from Bengaluru on December 23. According to the police, the cyber fraudsters disguised themselves as police officials from the Mumbai Crime Branch and committed the crime through digital arrest.
A case of a state government employee falling victim to cybercriminals and being robbed of Rs 19 lakh after being digitally arrested for six hours in Tumakuru district of Karnataka was reported on December 24.
According to police, the accused had called the victim officer on the phone and introduced himself as a staffer from the Mumbai Crime Branch. The accused further charged that the money had been transferred illegally from his account.
