Indore Police bust gang involved in bank fraud, six including three bank employees arrested

Indore (Madhya Pradesh) [India], January 8 (ANI): Indore police have busted a gang involved in withdrawing money from customers' current accounts at a private bank by committing account fraud. Six people, including three employees of the bank, have been arrested in connection with the case, officials said on Wednesday.
The police also recovered goods worth Rs 19.74 lakh, which included 17 mobile phones, smartwatches, and playstations from the accused, they added.
While speaking to the media, Deputy Commissioner of Police (DCP, Indore Zone 2) Abhinay Vishwakarma said, "In December 2024, some people lodged complaints at the Crime Branch police station and cyber helpline about money being withdrawn from their current bank accounts without sharing OTPs or changing passwords. During the investigation, it came to light that employees of the private bank had changed the password of customers' current account and withdrew the money."
After coming to know about the accused, the police formed parallel teams and arrested all the suspects on Tuesday. During questioning, the police found out about the modus operandi of the gang.
"By misusing software that displays OTPs, bank employees Kamal Kumawat, Abhishek Malviya, and Stanley accessed customers' current accounts and purchased e-gold, electronic gadgets, and gift cards. They then transferred the money to their personal accounts. We have recovered goods worth Rs 19.74 lakh, which include 17 mobile phones, smartwatches, playstations, motorcycles, etc.," DCP Vishwakarma added.
The gang has cheated around a dozen bank customers, stealing approximately Rs 53 lakh, of which Rs 19.74 lakh has been recovered. The remaining amounts are in the accused's bank accounts, which have been frozen, he said.
Among the six people arrested, three were the main bank employees - identified as Kamal Kumawat, Abhishek Malviya (posted in Indore), and Stanley (posted in the Manasa branch). The other three accused arrested in the case were involved in purchasing SIM cards to facilitate the fraud.
Further investigation into the matter is ongoing, he added. (ANI)