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Ferozepur: Fraudster siphons off ₹15 crore from pvt bank
As per information, the alleged scam was brought to light by Ajay Gautam of Sahibzada Ajit Singh (SAS) Nagar, who alerted the bank authorities about the suspicious transactions in January, following which the bank managed to plug the loopholes but till then, the accused succeeded to siphoning-off ₹15.47 crore
An unidentified perpetrator allegedly hacked ICICI Bank’s software to abscond with ₹15.47 crore, while after preliminary investigation, a case has been registered against the accused by the Ferozepur police.
As per information, the alleged scam was brought to light by Ajay Gautam of Sahibzada Ajit Singh (SAS) Nagar, who alerted the bank authorities about the suspicious transactions in January, following which the bank managed to plug the loopholes but till then, the accused succeeded to siphoning-off ₹15.47 crore.
After its internal extensive probe remained futile to identify the accused, the bank reported the matter to the state cyber crime cell in SAS Nagar, Punjab, leading to preliminary investigation by the state cyber cell after which they assigned further probe to Ferozepur police which on Saturday registered a case under Sections 66 and 23 of the IT Act, and 420 and 120-B of the IPC. The bank reported a staggering loss of ₹15.47 crore due to suspected fraudulent activities.
Ferozepur SP (Investigation) Randhir Kumar said ICICI Bank Limited brought the incident to the attention of the authorities. The unidentified assailant allegedly manipulated the bank’s software to orchestrate the colossal heist.
“Efforts are underway to apprehend the perpetrator and recover the pilfered funds,” said Randhir.
The theft has raised concerns over the security measures employed by financial institutions. ICICI Bank is collaborating closely with law enforcement to not only bring the culprit to justice but also to fortify their systems against future breaches.
“The accused siphoned off money from various locations in the country, but a large sum was transferred from Ferozepur. One of the other key points under scrutiny is the method employed to execute this large-scale financial fraud. Authorities are working to determine whether the substantial sum was siphoned off from the bank by exploiting vulnerabilities in its software, or if it involved unauthorised access to customer accounts,” revealed an official pleading anonymity.
