Andhra Pradesh

‘Major fraud’ detected in BoB’s Kalikiri branch

The police on Thursday detected embezzlement of funds in the Kalikiri branch of Bank of Baroda (BoB).

The fraud, allegedly involving a few bank employees and DWCRA groups, came to light when the police were investigating into the complaints lodged by the bank’s customers.

It was alleged that in the last couple of months amounts were being deducted from the accounts of a few DWCRA members without their knowledge as they received no messages to that effect. The deductions were shown only on updating of the passbooks.

A few customers complained that their fixed deposits were withdrawn without their knowledge. It was alleged that about 150 accounts had been tampered with.

It was also found that a majority of the funds had been transferred into the account of one bank employee. While admitting that fraudulent transactions had taken place in the bank, a police officer said, “Senior officials from BoB’s Regional Office in Tirupati are inspecting and verifying the records. Preliminary information is that a few bank staff had conducted transactions online after working hours and had also obtained passwords of the customers. It is alleged that ₹3 crore has been embezzled. A final picture is expected by Friday evening.”

Meanwhile, anxious moments prevailed as customers reached the bank to know about the safety of their deposits.


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Printable version | Oct 19, 2021 10:02:53 PM | https://www.thehindu.com/news/national/andhra-pradesh/major-fraud-detected-in-bobs-kalikiri-branch/article36129659.ece

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