
In a recent incident, a senior manager from a bank branch in Jodhpur has been arrested by the Mumbai police for his involvement in a cyber fraud case. The accused, Pawanshiv Bhagwan Dadich, aged 31, was apprehended by the South Region Cyber cell of the Mumbai police on Friday. He has been charged with cheating, forgery, breach of trust, and violations under the Information Technology Act. Dadich, who worked as a manager at a bank branch in Jodhpur, is accused of assisting a fraudster in siphoning off Rs 42 lakh from a corporate bank account.
Details of the Fraudulent Activity
The fraud came to light when a garment enterprise, with its corporate office in Kalbadevi, lodged a complaint with the police on March 16. They reported that an unknown individual had illicitly transferred Rs 41.8 lakh from their company’s account using the internet. Police investigations revealed that the accused had exploited the bank’s API (Application Programming Interface) banking facilities to gain control over the account. API banking allows third-party applications to access a common set of tools or services provided by the bank. The accused submitted bogus PAN and Aadhaar cards to change the account holder’s mobile number and email address in the database, providing them with complete control over the account. This fraudulent activity took place at the bank’s Jodhpur branch, where the accused submitted an API form and altered the account details, resulting in the transfer of funds.
Manager’s Responsibility and Investigation
The responsibility to verify the account holder’s credentials lay with Dadich, the bank manager. However, he failed to perform the necessary checks and verification process with the original account holders. It was his duty to ensure the legitimacy of the KYC (Know Your Customer) documents submitted to the bank. The Mumbai police emphasized that Dadich should have applied due diligence and confirmed the authenticity of the mobile number and email address changes. During a search of Dadich’s house and car, investigators discovered a cheque book and passbook belonging to one of the beneficiaries. Dadich was unable to provide a satisfactory explanation when questioned.
Another Fraud Case in Mumbai
In a separate incident, a fraudster managed to deceive a bank branch manager in Mumbai’s Bandra Kurla Complex, leading to the fraudulent transfer of Rs 7.95 lakhs from a diamond firm’s account. The BKC police are currently investigating the case and looking into the impersonation and fraudulent activities involved.