The Economic Offences Prevention Wing of the Crime Branch in Gujarat arrested seven accused concerning the ₹1.13 crore in a salaried account and credit card scam in the Navarangpura Branch of Axis Bank. DCP Bharti Pandya said that it is impossible to commit such a fraud without the help of bank employees.
The bank issued over 250 credit cards in the name of these three bogus companies, Medic Life Sciences Pvt Ltd, Giant Secure Solutions Pvt Ltd and Medicines Health Pvt Ltd. The fraudsters opened each bank account and received credit cards through an initial payment of three thousand rupees.
Pandya further said that the fraudsters opened salaried bank accounts using different addresses and with similar mobile numbers for many. They misused the provision to open a bank account to receive benefits from various government schemes. He added that a similar fraud was committed with Indus Bank using the same modus operandi.
Why did the bank employees come under suspicion?
The manager of the Fraud Control Unit of Axis Bank filed a complaint with the Economic Offenses Prevention Wing of the Crime Branch against 14 people for creating three fake companies and defrauding the bank of ₹1.13 crores. Thus, the Economic Offences Wing arrested the mastermind Nikhil. Further, the officials have recovered 16 swipe machines, 20 mobiles, 57 credit cards, 37 debit cards and two laptops.
The mobile numbers of all the bank accounts should be different. But the accused Nikhil had opened 20 salaried bank accounts with the same mobile number. This wouldn’t be possible without the help of bank employees.
Police investigation revealed that these bogus companies had made illiterate people the area managers. Also, the Aadhaar cards of illiterate people were used in opening these bank accounts. They were falsely promised that they will receive benefits from various government schemes through these bank accounts.