Banswara Police Uncover Rs 12.8 Crore Cyber Fraud, Arrest Two Bank Employees

The Banswara police recently uncovered a major cyber fraud operation that involved siphoning off at least ₹12.8 crore. Two key suspects, Meghnesh Jain, a deputy manager, and Divyanshu Singh, a former employee of a private bank, were arrested for their roles in executing the fraud. The scam spanned 11 states and relied on the exploitation of inactive bank accounts and forged documents.

How the Cyber Fraud Was Carried Out

According to the police, the fraudsters managed to revive dormant accounts at the bank’s branch in Banswara, Rajasthan. The arrested individuals used fake self-cheques and ATM cards to illegally withdraw money from these accounts. The fraud was uncovered when Sandesh Shah and his brother Tanish Shah, residents of Dhaduka village in Banswara, filed a complaint after noticing suspicious activity.

The investigation revealed that the same bank accounts had been involved in 44 different cyber fraud cases. The criminals used various tactics, including fake digital arrests, bogus investment schemes, and forged financial documents, to trick victims into transferring money into these accounts. These funds were then siphoned off and routed to the revived bank accounts.

Scope of the Fraud

The victims of this scam were located across several states in India, including Karnataka, Kerala, Goa, Tamil Nadu, Delhi, West Bengal, Maharashtra, Bihar, Telangana, Haryana, and Gujarat.

The Role of the Bank Employees

The arrested individuals were identified as Meghnesh Jain, 28, a deputy manager, and Divyanshu Singh, 30, a former employee of the bank. Police believe both were working under the direction of Aman Kalal, a resident of Partapur in Banswara’s Garhi region, who is currently on the run.

According to police reports, Aman Kalal convinced Divyanshu, who was working at the bank in 2022, to open multiple accounts under the pretext of meeting branch targets. After Divyanshu left his job, he kept the checkbooks and ATM cards for the accounts he had opened. He later forged signatures and used self-cheques to withdraw funds from these accounts.

Meghnesh, on the other hand, used his position as a deputy manager to unfreeze the dormant accounts without proper authorization. He allegedly facilitated large cash withdrawals by approving fake cheques, helping the fraudsters take control of the funds.

Conclusion

This cyber fraud racket highlights the vulnerability of banking systems to insider threats and the growing challenge of securing financial transactions. The police are continuing their investigation to track down the mastermind, Aman Kalal, and others involved in the fraud.