Cyber Fraud Odisha's Cyber Crime Unit busts banking fraud racket, 3 arrested
The Cyber Crime Unit of Crime Branch, Odisha has busted a bank fraud racket to the tune of more than Rs 1.04 crore from the ICICI Bank, Dhenkanal Branch during 2021-22 with the arrest of three persons.
Crime Branch sources told UNI the crime branch team investigating the case has arrested 3 persons -- Swagatika Swain (28)a former Relationship Manager of the bank, her husband Manoj Kumar Sahoo (29) and Prasant Ku Sahoo, Deputy Bank Manager, ICICI Bank in connection with the case.
All three accused are being produced before the court of SDJM Bhubaneswar on Sunday.
The investigation so far revealed about registration of three similar cases at the Town Police Station, Dhenkanal against Swagatika Swain and her associates. Further complicity in other offences are under investigation.
The Crime branch swung into action after the Regional Head, ICICI Bank Financial Crime Prevention Group complained to the Crime Branch that several customers of ICICI Bank Dhenkanal Branch had raised concerns regarding unauthorized transactions from their ICICI Bank accounts. Upon such allegations, the bank had got an internal inquiry done and it was ascertained that fraudulent transactions were carried out in the form of unauthorized overdrafts against fixed deposits.
Swagatika Swain, a former Relationship Manager of the bank along with her husband Manoj Kumar Sahu had carried out the alleged disputed transactions for personal gain. All the alleged transactions were done from February 1, 2021, to June 30,2022.
They targeted mostly the senior citizens who were less aware of the use of electronic gadgets and online banking and in the veil of maintaining good relationships with such customers, the couple used to access their details and gradually started misusing the trust.
The Deputy Branch Manager and Manager of the said branch also seem to have connived through their silent approval of such acts.
So far 11 defrauded account holders have been identified to whom the Bank has suo-moto reimbursed lost money amounting to the tune of Rs 87,54,047/.
Many more such complaints can crop up in the coming days.
The ill-gotten money was being invested by Swagatika Swain and Manoj Ku Sahoo with a money lender.
(With UNI Inputs)
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