Punjab police busts bank fraud racket, 1 held
Chandigarh: The Punjab Police on Thursday claimed to have busted a bank fraud racket in the state with the arrest of a member of a gang that used faked documents to change account details and siphon off funds.
The cybercrime cell of the police investigated the case on a complaint from an official of a private bank, who has alleged that a fraud of around Rs 2 crore from a bank account was committed in a "tech-savvy" manner, police said.
During the course of investigation, it was found that money was siphoned off from the account and transferred to five different bank accounts, they said.
These bank accounts were opened on fake identity documents and later, the money was withdrawn from ATMs and by self-cheques, police said.
They said a key member of the gang, Amit Sharma alias Nitin, was arrested from the Shimlapuri area of Ludhiana.
The members of the gang changed the email id and the mobile phone number registered with the bank account, thereby gaining control of it, police said.
Police on January 28 had arrested two other accused in the case Rajiv Kumar and Deepak Kumar.
