Cash transfer van custodian steals ₹4 cr from 35 ATMs across Navi Mumbai

Koparkhairane police recently booked the accused, Sachin Wagh, for allegedly misusing the security key and password of the ATMs and stealing money with the help of unknown bank officials.

A custodian of a cash transfer van tasked with depositing money in ATMs across Navi Mumbai allegedly stole ₹3.96 crore over two days from 35 machines.

The firm, in its complaint to the police, stated that Wagh, being the designate senior custodian, possessed the ATM security key and the admin card, containing necessary information about money withdrawn or put into the ATM.(HT File / Representational Photo)

Koparkhairane police recently booked the accused, Sachin Wagh, for allegedly misusing the security key and password of the ATMs and stealing money with the help of unknown bank officials.

The theft came to light on December 26, 2019, when Wagh did not show up for work. The firm, Securitrans India Private Limited, had undertaken the task of depositing money at various ATMs where Wagh and his team of four, including a second custodian, a driver and armed security guard, were deployed to the Koparkhairane branch.

The firm, in its complaint to the police, stated that Wagh, being the designate senior custodian, possessed the ATM security key and the admin card, containing necessary information about money withdrawn or put into the ATM.

As per protocol, after the money is collected from the vault officer and loaded in the van, the second custodian, who has the password, opens the ATM with the senior custodian, in possession with the key card. The senior custodian then updates the transaction on the bank’s server via an online system apart from maintaining a physical entry.

After the regional manager at their Goregaon office was informed of Wagh’s non-attendance at work on December 26, the second custodian Prasad Parab went to look for him at his house. Parab was informed by Wagh’s family that he left for work as per his usual time at 6 am. “The firm undertook an audit as his disappearance was suspicious.

We found discrepancies in transactions between December 11 and December 13, where ₹3.96 crore was not deposited in 35 out of 37 ATMs on their circuit,” the firm told the police in their complaint.

“We have registered the case based on the company’s suspicion that the bank officials are also involved. It is part of the investigation which bank officials took part in the crime,” said Suryakant Jagdale, senior inspector at Koparkhairane police station.

Jagdale added that no arrests have been made so far as Wagh is at large.