CBI Conducts Searches At Around 13 Locations In West Bengal & Karnataka: Electronic evidence including mobile phones, laptops, computer systems, email archives, and debit/credit cards recovered
FinTech BizNews Service
Mumbai, December 5, 2023: The Central Bureau of Investigation has conducted searches at around 13 locations including at Kolkata (West Bengal) & Mangalore (Karnataka) at the premises of accused & others including private persons/bank officials. During searches, electronic evidence including mobile phones, laptops, computer systems, email archives, and debit/credit cards were recovered.
A case was registered on complaint from UCO Bank, against two Support Engineers working with UCO Bank and other unknown persons on the allegations of suspicious Immediate Payment Service (IMPS) transaction amounting to approximately Rs820 crore. It was alleged that between 10th November 2023 and 13th November 2023, IMPS inward transactions originating from 14000 account holders across seven private banks were directed to 41000 account holders within UCO Bank through the IMPS channel.
It was further alleged that this intricate network involved a staggering 8,53,049 transactions and these transactions were mistakenly posted in the UCO Bank account-holders' records, despite the originating banks registering failed transactions. Consequently, an approximate sum of Rs820 crore was allegedly found its way into UCO Bank accounts without proper debits from the originating banks' account holders.
It was also alleged that several account holders exploited this situation, illicitly withdrawing funds from UCO Bank through various banking channels, thereby benefiting wrongfully from the transaction.
Investigation is continuing.
