Rs 2500 Crore Cyber Fraud Busted in Gujarat, 20 Arrested Including 3 Bank Officials

New Delhi: A major cyber fraud of about Rs 2500 crore has been revealed in Rajkot, Gujarat, in which officials of private banks have also been found involved. Police have arrested three more people in this case, taking the total number of arrested accused to 20. Investigation has revealed that this network was misusing the banking system in an organized manner.

Which bank officials have been arrested?

According to Rajkot Rural SP Vijay Gurjar, Yes Bank personal manager Maulik Kamani, Axis Bank manager Kalpesh Dangaria and HDFC Bank personal banker Anurag Baldha have been arrested. All three are accused of providing technical and banking help to this entire network.

How was such a huge cyber fraud going on?

Investigation has revealed that the accused opened many dubious bank accounts through fake documents and kept them active. Transactions of huge amounts were done through these accounts, due to which even the banking alert system was dodged.

Was the banking system misused?

According to the police, some bank officials deliberately laxed the verification process. The accounts were opened and operated regularly using false identities. This made it easier for cybercriminals to transact money.

What is a cash transaction and hawala connection?

It is alleged that cash was withdrawn from these accounts and then forwarded through the Hawala network. This helped in hiding the source of money and made it difficult for the investigating agencies to trace the trail.

How many accounts and complaints have come forward so far?

Police have so far identified around 85 bank accounts linked to this racket. More than 535 complaints have been registered on the cybercrime portal, due to which the scope of the case is considered to be quite large.

In which direction will the investigation move further?

The arrested accused are being interrogated by taking them into police custody. The investigating agencies are now trying to reach other connections and masterminds of this network. More revelations are expected in this matter in the coming days.

Do common people also need to be cautious?

Investigating agencies say that in such cases, awareness of common people is also very important. It is being advised to avoid any unknown calls, links or suspicious bank transactions. Apart from this, it is also said that it is necessary to regularly monitor your bank accounts and change the password from time to time so that cyber fraud can be avoided.