The manager of a State Bank of India (SBI) branch in Hyderabad and his associates have been held in a fraud case.
According to a report by NDTV, officers of the Cybersecurity Bureau Headquarters, Hyderabad told the publication that the manager of the SBI branch in Shamsheer Gunj area facilitated opening of current accounts, aided withdrawal of funds, and orchestrated diversion of money in exchange of commissions.
The bank manager Madhu Babu Gali (49) has been arrested along with a gym trainer identified as Upadhya Sandeep Sharma (34) for a scam worth Rs 175 crore, and a case has been registered against the duo.
According to NDTV, the Cybersecurity Bureau identified various complaints against the NCRP portal against six bank accounts in the SBI branch.
The bureau’s data analysis team, upon probing, found that large amounts of money were transferred from these accounts between March and April 2024.
The data gathered by the bureau discovered that about 600 complaints were linked to these accounts.
According to the publication’s report, the main scammer was operating from Dubai and his five associates lured poor people into opening bank accounts on a commission basis which they later used for cybercrimes.
The Cybersecurity Bureau had on August 24 arrested Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir for their participation in the Rs 175 crore scam.
According to the publication, Shoeb was in charge of opening the new bank accounts and preparing documents for the same.
The signatures of the account holders were taken on cheques and used secretly to send money to Dubai using cryptocurrency.
Shoeb had opened six accounts at the Shamsheer Gunj’s SBI bank branch in February 2024 by luring people with commissions.
Published 29 August 2024, 10:42 IST
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