Karnataka Police Detain Gang Led by Bank Manager for Embezzling Rs 12.51 Crore through Corporate Data Breach

Bengaluru, Dec 28 (NationPress) The Karnataka Police have apprehended a group of four individuals, headed by the Corporate Division Manager at Axis Bank in Gujarat, for illegally siphoning off crores of rupees by acquiring sensitive data from a company, according to officials on Saturday.

The Bengaluru East CEN police (Cybercrime, Economic Offences, Narcotics) arrested the suspects and confiscated Rs 1.83 crore in cash, two mobile devices, and a counterfeit Corporate Internet Banking (CIB) form, as reported by Bengaluru Police Commissioner B. Dayanand.

The inquiry commenced after the Director of Dream Plug Pay Tech Solutions Private Limited (CRED) in Bengaluru lodged a police complaint on November 15 at the CEN East police station. The complaint accused the theft of Rs 21.51 crore from the company’s accounts and called for an investigation.

According to the allegations, the company maintained its nodal and current bank accounts at the Indiranagar branch of Axis Bank in Bengaluru. Unknown individuals had illicitly accessed the email addresses and contact numbers linked to these accounts.

The cybercriminals pilfered the company’s data, fabricated CIB forms, and falsified signatures and seals to facilitate the transfer of Rs 12,51,13,000 to 17 separate bank accounts.

Following the registration of the complaint, the East CEN police initiated an investigation and arrested the main suspect, who was employed as the Manager of the Corporate Division at Axis Bank in Gujarat. The investigation uncovered that the accused, in collaboration with others, had purloined the company’s data and executed the crime.

The mastermind produced 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. Utilizing these forged documents, the accused accessed the company’s internet banking accounts and funneled 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 presented in a local court and subsequently transported 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 resolved by a team led by DCP East D. Devaraj, ACP Laxmikanth of the CEN East police station, and Inspector Umeshkumar.

In another incident, six individuals were arrested for cyber fraud amounting to Rs 56 lakh in Bengaluru on December 24. Bengaluru Police Commissioner B. Dayanand stated: "The accused deceived a company by impersonating its Managing Director (MD). By using the MD's photograph and the company logo as a WhatsApp display picture, one of the suspects messaged an employee, requesting an urgent transfer of Rs 56 lakh, claiming it was necessary as a security deposit."

Moreover, a case has emerged involving cybercriminals extorting Rs 35 lakh from a Japanese national in Bengaluru recently. Hiroshi Sasaki, a 59-year-old Japanese national, filed a complaint regarding the incident at the South East Cybercrime, Economic Offences, Narcotics (CEN) Crime police station.

Additionally, a software professional lost Rs 11 crore after being targeted by digital arrest scams reported from Bengaluru on December 23. According to the police, the cyber fraudsters posed as police officials from the Mumbai Crime Branch and executed their crime through digital arrest.

A case has also been reported where a state government employee fell prey to cybercriminals, losing Rs 19 lakh after being digitally detained for six hours in Tumakuru district of Karnataka on December 24.

According to police reports, the accused contacted the victim officer via phone, introducing themselves as a staff member from the Mumbai Crime Branch. The accused further claimed that the money had been illegally transferred from his account.