This Yes Bank Manager’s Contribution to the Money Laundering with Cyber Criminals Is Unbelievable! Check Out How Here!
This Yes Bank Manager’s Contribution to the Money Laundering with Cyber Criminals Is Unbelievable! Check Out How Here!
An alarming breach of trust within the banking sector was revealed when the deputy manager of Yes Bank was taken into custody for assisting cybercriminals in a ₹5 Lakh fraud case.
Mumbai, Maharashtra: PragatiAtulKshirsagar, a deputy manager at the Thane branch of Yes Bank, has been apprehended by the Matunga police. She is accused of aiding cyber criminals in the laundering of money through fraudulently created bank accounts. Kshirsagar, 27, is the sixth individual to be apprehended for their involvement with a cyber fraud case that resulted in the swindling of a senior citizen from King Circle out of ₹5 lakhs.
Detecting the Fraud
In April, the victim filed a First Information Report (FIR) against unidentified individuals, alleging that they had impersonated State Bank of India (SBI) officials to commit the fraud. This was the initial disclosure of the case. An investigation was initiated by Police Inspector KeshavWagh of the Matunga police in response to the complainant’s report.
Arrests and Investigations
The investigation uncovered that the bank accounts utilized by the scammers were held by unaware people who were oblivious that their accounts were being utilized for illegal activities. This led the authorities to investigate the veracity of these accounts.
The police made progress last week by apprehending five suspects. Rahul Umale, one of the accused, had disclosed his bank account information in exchange for monetary compensation. These accounts were discovered to have been utilized by Arbaaz Shaikh, Amin Shaikh, and Rahim Shaikh to conduct fraudulent transactions. A substantial portion of the stolen money was received by Kalim Ansari, a resident of Palghar, who played a critical role.
PragatiKshirsagar’s Role
The police arrived at PragatiKshirsagar as a result of their interrogations. The suspects disclosed that Kshirsagar had failed to establish 70 salary accounts on a monthly basis for two consecutive months because of pressure to do so.
She allegedly conspired with Amin and Rahim to establish fictitious bank accounts as a result. She was granted a portion of the profits as compensation for her collaboration.
Additional Investigations and Legal Proceedings
Kshirsagar was remanded to police custody for further interrogation after being presented before the Kurla court on Tuesday. Six bank accounts that she established and that the other suspects have subsequently utilized have been identified by the authorities.
The police are conducting an ongoing investigation to determine the complete scope of the cybercrime network, as they suspect that there are additional accounts of this nature.
Background of the Accused
PragatiKshirsagar previously resided in Dharavi before relocating to Jui Nagar in Navi Mumbai. Her arrest has prompted significant inquiries regarding the internal banking procedures and the pressures that bank employees encounter in order to achieve objectives.
Community Impact and Police Efforts
The Matunga police’s diligent efforts to resolve this cyber fraud case underscore the increasing prevalence of cybercrime and the significance of vigilance in the banking sector. The case functions as a stark reminder for people to exercise caution and validate the authenticity of communications that are purportedly from banking officials.
The police are resolute in their pursuit of justice for the victims and the apprehension of all those responsible for this intricate deception. The necessity of more stringent regulatory measures and improved internal controls within financial institutions to prevent similar incidents in the future is emphasized by the arrest of a bank official in connection with such a scheme.
About The Author:
Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blogs, he also writes for brands including Craw Security, Bytecode Security, and NASSCOM.
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