Punjab police busts bank fraud racket, 1 held

Punjab Police on Thursday claimed to have busted a bank fraud racket in state with arrest of a member of a gang that used faked documents to change account details and siphon off funds.

cybercrime cell of police investigated case on a complaint from an official of a private bank, who has alleged that a fraud of around Rs 2 crore from a bank account was committed in a "tech-savvy" manner, police said.

During course of investigation, it was found that money was siphoned off from account and transferred to five different bank accounts, y said.

se bank accounts were opened on fake identity documents and later, money was withdrawn from ATMs and by self-cheques, police said.

y said a key member of gang, Amit Sharma alias Nitin, was arrested from Shimlapuri area of Ludhiana.

members of gang changed email id and mobile phone number registered with bank account, reby gaining control of it, police said.

Police on January 28 had arrested two or accused in case Rajiv Kumar and Deepak Kumar.