Punjab cyber crime police have arrested 28-year-old Sumit Gupta and two others on charge of duping Federal Bank, Kerala, of crores of rupees through fraudulent ATM transactions. Gupta took to cyber crime to cover losses he incurred in his business of manufacturing T-shirts, and in a few months headed a gang that made crores of rupees.
Others arrested include Kuldeep of Kangra and Harpreet Singh alias Bhura of Kajheri village in Chandigarh.
Sumit had come in contact with a gang that was involved in fraudulent bank transactions. After learning its modus operandi, he broke away and formed his own gang. Sumit allegedly withdrew crores of rupees from the ATM of Federal Bank and purchased properties with such money.
"We have busted an inter-state gang and arrested its members involved in committing fraudulent transactions through ATM cards of different banks. The modus operandi of the gang was to indulge in reverse transactions on ATM withdrawals," said SSP Pradeep Kumar of crime and cyber crime police station, SAS Nagar.
"Sumit Gupta is the mastermind, who had many supporting members working for him, from whom he purchased ATM cards of different banks along with their passwords for Rs 2,500 each. He also provided them Rs 10,000 for opening an account in these banks," the SSP added.
"After receiving the ATM cards from gang members, Sumit used to make fraudulent withdrawals from the ATMs of Federal Bank, Kerala, located in Punjab, Kerala, Haryana, Delhi, Chandigarh and other parts of India," added Pradeep Kumar.
The first FIR in this regard was registered by Kerala police on May 31, 2012. The Federal Bank noticed the fraud in Punjab in June 2012 and registered a police complaint, following which an FIR was registered on June 18, 2012, for cheating and conspiracy and under various sections of Information and Technology Act at state cyber crime police station, SAS Nagar.
Police also seized 545 gm gold ornaments and 121.80 gm silver ornaments bought from the fraudulently withdrawn money, apart from Rs 2.72 lakh in cash, 206 ATM cards of different banks and eight mobile phones.
Police also impounded a Verna car and Innova SUV along with documents of property worth Rs 14 lakh. The SSP said that the possibility of involvement of banks officials in the case could not be ruled out at present.