12 arrested for attempting to swindle money from ‘very high value’ NRI bank account

Among the arrested are three employees of a private bank

PRAVASISAMWAD.COM

Close on the heels of the Indian central bank Reserve Bank of India’s assurance to NRIs that they have less chance of being online fraud victims, Indian investigating agencies arrested 12 people for their attempt to swindle money from a ‘very high value’ NRI bank account.

Among the arrested are three employees of a private bank. “The accused had procured Indian mobile phone number identical to the account holder’s US-based phone number for facilitating the transfer of funds,” the Times of India reported.

An investigation followed after a complaint filed by the HDFC which revealed that 66 malafide withdrawal attempts were made on the account which had Rs 200 crore in it.

The TOI quoted Delhi Police DCP (cyber cell) KPS Malhotra, who said, “Further, the accused tried to withdraw cash from the account using a fraudulently obtained cheque book. They even later tried to update the mobile phone number in the KYC documents by replacing the existing registered mobile number.”

India’s RBI recently introduced additional rules on auto debits linked to credit and debit cards in the case of recurring payments

Police have recovered the cheque book the group had obtained with the help of some bank employees.

Meanwhile, India’s RBI recently introduced additional rules on auto debits linked to credit and debit cards in the case of recurring payments.

As per the new rules, customers will have to create an additional factor authentication (AFA) with a one-time registration process for transactions up to Rs 5,000.

For any transaction, approval from the customer is mandatory. In the absence of it the transaction will not complete.

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