2 including Hyderabad SBI manager held in Rs 175 crore fraud case

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Hyderabad: The Telangana Cyber Security Bureau (TGSCB) arrested two more people including the manager of a State Bank of India (SBI) in a Rs 175 crore fraud case. The SBI official of the Shamsheergunj branch colluded with fraudsters, facilitating the opening of current bank accounts and aided in the withdrawal of funds, all in exchange for commissions, said the police.

According to the TGCSB, the accused have been identified as Madhu Babu Gali, the SBI branch manager, and Upadhya Sandeep Sharma. A case was registered under section 66D of the IT Act, and sections 318(4), 319(2), and 338 of the BNS Act at the Cyber Crime Police Station, Headquarters, Hyderabad, based on a Suo motto complaint.

The TGCSB has cautioned 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,” said a press release from the TGCSB.

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