Rs.20 Crore Cyber Fraud Racket in Lucknow, Private Bank Manager received 10-20% Commission

A big cyber fraud of Rs.20 crore has been discovered in Lucknow. This was a big fraud racket being operated by some individuals. A deputy branch manager of a private bank and two associates have been arrested for allegedly running a nationwide cyber fraud network that siphoned off nearly ₹20 crore through fake companies and layered bank accounts.

On Nov 5, the cyber team received a tip-off that Umakant and Rajiv were engaged in large-scale cyber fraud. Acting swiftly, the team apprehended both suspects near Axis Bank, Gol Market.

“On interrogation, they revealed their association with Uttam Kumar Biswas, a senior bank official who facilitated the creation of fake bank accounts used in frauds. Based on the leads, the team raided Kiran Enclave on Kursi Road and detained Uttam Biswas, who later confessed to his involvement. The trio was booked under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and IT Act,” said Cyber Cell inspector, Brijesh Yadav.

“The accused were identified as Uttam Kumar Biswas, Rajiv Biswas and Umakant,” said DCP crime Kamlesh Dixit on Thursday.“ There are three key members in this cyber fraud syndicate including branch manager Uttam Kumar Biswas, 44, Rajiv Biswas, 28 and Umakant, 33. Uttam lives on Kursi Road and works as deputy branch manager of a private bank. He is the mastermind of the entire operation.

The gang was operating under his supervision. Dixit further added that around 50 complaints related to the gang have been registered on the NCRP portal, while FIRs have been lodged in Visakhapatnam, Hyderabad, Gurugram, West Bengal and Uttar Pradesh. Police seized ₹30,000, 5 mobile phones, 6 ATM cards and 2 Aadhaar cards, 1 PAN card from accused.

According to cyber police station in-charge, Brijesh Kumar Yadav, fake firms were created under names like Aakash Real Estate & Developers Pvt Ltd and Sunrise Solutions Pvt Ltd. Corporate bank accounts were opened with the help of the bank manager. Money received from online gaming scams and fraud calls was deposited into these accounts. Cash was withdrawn via ATMs, transferred to multiple accounts to hide its origin (layering), and later converted into gold, land and property. The bank manager received 10–20% commission, sometimes through Google Pay, sometimes in cash.

“So far, transactions worth nearly ₹20 crore have been traced in accounts linked to Uttam. After forming a company, he opened a corporate account and even purchased land in his wife’s name. All financial trails, where the money went, which states or countries it reached are being investigated,” said Dixit.