Greater Noida PNB Fraud Uncovered: ₹10.24 Crore Misappropriated
A significant fraud at Punjab National Bank in Greater Noida, involving unauthorized transactions and tampering with fixed deposits, has been revealed, leading to a CBI investigation.
Fraud estimated at ₹10.24 crore over three years.
Bank employee Deepanshi misused colleagues' credentials for unauthorized transactions.
CBI has initiated an investigation following a customer complaint.
A major fraud case has emerged at the Punjab National Bank (PNB) branch in Greater Noida, where a bank employee allegedly misappropriated ₹10.24 crore over a span of three years. The Central Bureau of Investigation (CBI) has filed a First Information Report (FIR) following the bank's complaint, which detailed unauthorized transactions involving customer accounts and fixed deposits.
The fraud was brought to light when a customer, Sangeeta, discovered unauthorized transactions during a visit to the bank for a passbook update. She reported the issue to bank officials, prompting an internal inquiry that revealed the involvement of Deepanshi, a bank staffer, who allegedly used the login credentials of six colleagues to execute unauthorized transfers. The bank initially estimated the fraud at nearly ₹35 crore, but this has since been revised to ₹10.24 crore based on further investigation.
According to the bank's complaint, Deepanshi collaborated with accomplice Ashutosh Pathak and others to manipulate customer accounts. The investigation revealed that she tampered with fixed deposits, adding unauthorized individuals as joint account holders and changing account details to facilitate the fraudulent transactions. The bank's preliminary findings indicated that multiple unauthorized transactions were executed through the Core Banking System, raising concerns about the security of user credentials.
The implications of this fraud extend beyond the immediate financial loss, as it raises questions about the internal controls and oversight within the bank. The CBI's investigation aims to uncover the full extent of the fraud, including the potential involvement of additional bank employees and the total number of affected customers. As the investigation progresses, the bank has committed to cooperating fully with authorities and has initiated its own internal review to hold accountable those involved.
Moving forward, the CBI will continue its investigation, with a focus on gathering evidence and establishing the roles of all individuals involved. The bank has indicated that the reconciliation of affected accounts is ongoing, and the total amount of misappropriated funds may change as more information comes to light. The case underscores the need for stringent security measures in banking operations to prevent such incidents in the future.
