A very sensational case of online fraud took place in Noida. Cybercriminals targeted banks in Nainital and committed crimes worth over Rs 16 crore. The fraud came to light when irregularities were discovered in the bank’s balance sheet. The online mob carried out the entire incident in a very vicious manner. To this end, the bank’s servers were hacked and funds were transferred to 89 accounts. The criminal used the manager’s login password.
It is understood that the case involves Nainital Bank located in Sector 62, Noida. This online fraud began in June 2024. By hacking into the bank’s server, the thugs obtained the bank manager’s login password. The scammers use this password to transfer money through the bank’s RTGS (Real Time Gross Settlement) channel.
The entire fraud scheme was completed between June 16 and 20, 2024. During this period, cyber thugs hacked into the Nainital Bank’s servers and penetrated the bank’s RTGS system using the manager’s login password.
Also read: Government crackdown on online fraud: 600,000 mobile phones turned off and 65,000 URLs blocked
In this way, the fraudsters made changes in the bank’s internal system and transferred Rs 165 million to 89 accounts. The fraud was so clever that the bank was not immediately aware of it. The entire issue came to light when banks began investigating after days of uncovering irregularities in their balance sheets.
The bank’s IT manager complained to the police. The police immediately took action and registered a case at the Cyber ​​Crime Police Station located in Sector 36. The entire incident exposed weaknesses in the bank’s security systems.
Thug traps and police actions
In response to this case, the police investigated and found the suspect. In this incident, the first accused named Harsh was found. He is the mastermind of this fraud. Harsh was accompanied by his brother, chartered accountant Shubham Bansal and a few other colleagues. After Harsh, another accused named Kuldeep has now been found. Kuldeep’s bank account was used in the scam. In return, Kuldeep received a commission of Rs 5 lakh.
Throughout the incident, ADCP cyber crime chief Preeti Yadav said that so far, the police have frozen properties worth Rs 4 crore, of which properties worth Rs 2 crore belong to Kuldeep. The search for other fraud suspects is ongoing. Police are working to identify each person whose accounts had funds transferred.
In this online fraud, cracking the login passwords of the bank’s servers and managers was considered a major lapse in bank security. Currently, the police are investigating the matter in depth and are taking quick measures to identify and arrest the thugs.
