How Did Fraudsters Manage to Withdraw Rs 16.38 Crore from Agartala Municipal Corporation's Account?
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Synopsis
A massive financial fraud involving Rs 16.38 crore has shaken the Agartala Municipal Corporation, with police launching an investigation into unidentified fraudsters. The case raises serious questions about banking security and cybercrime, making it imperative to delve into how such a large sum was withdrawn using cloned cheques.
Key Takeaways
- Investigation launched into Rs 16.38 crore withdrawal.
- Fraudsters used cloned cheques and forged signatures.
- CCTV footage is being analyzed for identities.
- UCO Bank agrees to return the funds to AMC.
- Cybercrime incidents are on the rise in Tripura.
Agartala, Sep 5 (NationPress) In a significant development, the Tripura Police have launched an inquiry into the actions of unidentified fraudsters who unlawfully withdrew Rs 16.38 crore from the bank account of the Agartala Municipal Corporation (AMC) using cloned cheques, as reported by officials last Friday.
A police representative stated that Sanjib Roy, the Zonal Manager of UCO Bank, filed a complaint at the West Agartala police station after it was discovered that the hefty sum was withdrawn from the AMC’s account through six counterfeit cheques during the months of August and September.
The investigation revealed that the fraudsters, operating from Hyderabad, had forged the signature of a former AMC official to facilitate the withdrawal, while the legitimate cheques remained with the civic body.
“Our investigating officer confirmed that the original cheques are still secured with the relevant AMC officials,” the representative noted. They have also gathered CCTV footage from UCO Bank's main branch at Kaman Chowmuhani, which is currently under examination to identify the individuals who submitted the cloned cheques.
“Upon identifying those who presented the counterfeit cheques at UCO Bank, we will be able to track down the individuals involved in this case,” he commented.
An AMC official mentioned that they have requested UCO Bank to restore the full Rs 16.38 crore back to the civic body’s account, and the bank has concurred. A similar incident occurred a few years back, where the bank also returned the funds, the AMC official added.
Last week, Tripura's Director General of Police, Anurag, disclosed that the state police had identified online financial fraud totaling Rs 46.96 crore since 2021, with authorities successfully recovering Rs 5.2 crore and returning Rs 34 lakh to victims. The police are organizing a special drive to return the remaining amount after thorough verifications in the forthcoming three months, he informed the media.
The DGP also stated that details of 20,387 bank accounts involved in these cybercrime incidents in Tripura have been recovered.
Point of View
It is crucial to emphasize that incidents like these highlight the vulnerabilities in our financial systems and the necessity for stringent measures to safeguard public funds. The Agartala Municipal Corporation’s case serves as a wake-up call, reminding us of the ever-evolving threats of cybercrime that demand our immediate attention and action.
NationPress
05/09/2025
Frequently Asked Questions
How did the fraudsters manage to withdraw the money?
The fraudsters used cloned cheques and forged the signature of a former AMC official to withdraw Rs 16.38 crore from the Agartala Municipal Corporation's account.
What steps are being taken by the police?
The Tripura Police have initiated an investigation and are examining CCTV footage from UCO Bank to identify the individuals involved in submitting the cloned cheques.
Is there a possibility of recovering the lost funds?
Yes, UCO Bank has agreed to return the full amount of Rs 16.38 crore to the Agartala Municipal Corporation's account.
What has been done about previous cases of fraud?
The Tripura Police have previously identified online money fraud totaling Rs 46.96 crore and have been working on returning the recovered amounts to the victims.
What can be done to prevent such frauds in the future?
Enhancing banking security measures, conducting regular audits, and raising awareness about cybercrime can help prevent such incidents in the future.
