look news india
Hyderabad: A branch manager of State Bank of India (SBI) in Hyderabad and his associate have been arrested in a Rs 175 crore bank fraud case.
In this scam, branch manager of SBI branch in Shamshir Ganj area Madu Babu Gali and gym trainer Upadhyay Sandeep Sharma have been arrested. After this arrest, there is a lot of anger among the local people.
Cyber Security Bureau officials have confirmed the case. It is alleged that the branch manager and his associates were helping in opening accounts in connivance with the fraud group.
Apart from this, they were also helping in withdrawing money and transacting money for profit. An official of the Cyber Security Bureau said that they were getting commission in return for this work.
The data analysis team of the Cyber Security Bureau focused on complaints lodged against six accounts in the Shamsheer Ganj branch of SBI. A large amount of transactions took place from these accounts between March and April 2024.
During investigation, it was found that these accounts were involved in large-scale cyber fraud and around 600 complaints were related to these accounts.
The main fraudster was running the operation from Dubai and his five accomplices lured poor people to open bank accounts and used them for cyber crime and hawala operations.
On August 24, the Cyber Security Bureau arrested Mohammad Shoaib Tauqeer and Mahmood bin Ahmed Bawajir. Shoaib played an important role in opening bank accounts and preparing documents.
Officials said Shoaib and others convinced poor people to open six current accounts in the Shamsheer Ganj branch of SBI in February, 2024. Transactions worth more than Rs 175 crore took place from these accounts in March and April.
After the case came to light, the public has been warned not to open bank accounts for anyone else or engage in suspicious transactions.
