State cyber cell arrests third accused involved in multi-crore bank fraud

The Police State Cyber Crime Cell Thursday busted a high-tech multi-crore bank fraud racket operating in the state and arrested the key member of the three-person gang, Amit Sharma alias Nitin. The team nabbed Sharma from Shimlapuri area of Ludhiana.

Disclosing this, ADGP-cum-Director, Bureau of Investigation, Arpit Shukla, said the cybercrime cell had investigated this case on the complaint of Vijay Kumar, Location Manager of HDFC Bank, who had alleged that a fraud of around Rs 2 crore from a HDFC bank account was committed in a tech savvy manner.

During the investigation, it was found that the fraudster had siphoned off money from the account and transferred it to five different bank accounts. These bank accounts were opened on a fake identity. The money was later withdrawn from these accounts by way cash from ATMs and self cheques.