HDFC bank duped of 4 crore by outsourced staff

The men allegedly availed of 62 personal loans from the bank and got 38 credit cards issued against saving accounts, which were opened in Delhi in the name of fake employees of the Municipal Corporation of Delhi (MCD).
An HDFC Bank spokesperson said the fraud was detected by the bank’s risk intelligence wing during routine checks.(Representative image)
An HDFC Bank spokesperson said the fraud was detected by the bank’s risk intelligence wing during routine checks.(Representative image)
Published on Jul 13, 2019 02:46 AM IST
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Hindustan Times, New Delhi | By Karn Pratap Singh

The Delhi Police has registered an FIR on the complaint of a senior official of HDFC Bank who alleged that the bank was duped of 4.24 crore by fraudsters in connivance with employees to whom the bank had outsourced work.

The men allegedly availed of 62 personal loans from the bank and got 38 credit cards issued against saving accounts, which were opened in Delhi in the name of fake employees of the Municipal Corporation of Delhi (MCD).

Police said the bank’s internal inquiry revealed that the fake accounts were opened in the three different branches of HDFC Bank in Delhi. The bank’s report disclosed the involvement of three sales executives, to whom the bank had outsourced the work of canvassing new accounts and disbursing loans and credit cards. The complaint was filed on June 6 by the assistant vice-president of HDFC Bank’s risk intelligence and control division, the police said.

“We registered a case on Thursday. Our preliminary investigation revealed that the loans were availed of on the basis of fake salary certificates and credentials of being employed in MCD schools and offices. The entire fraud has been committed by an organised syndicate. Involvement of insiders cannot be ruled out,” additional commissioner of police (EOW) Suvashish Choudhary said.

An HDFC Bank spokesperson said the fraud was detected by the bank’s risk intelligence wing during routine checks.

“The modus operandi was to get a customer to open a saving accounts and thereafter apply for a personal loans and credit card. Our enquiry revealed the involvement of three employees to whom work was outsourced. We have filed a case with the EOW,” the spokesperson said.

A police officer said during the investigation, they found that the fraud was committed between January 2018 and January 2019. The personal loan amounts ranged between 4.24 lakh and 7.30 lakh. Similarly, the con men used the credit cards for shopping and other payments.

Police said they have identified the three ‘outsourced’ employees are on the run. “We have activated our human intelligence network to nab the suspects. The documents that were submitted in the bank for opening the accounts are being analysed to know how they were forged,” the officer said.

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Sunday, October 17, 2021