Miscreants posing as customers misused the bug of City based financial service company to dupe the company total worth Rs.14.2 Crore in a span of 14 days

Pramesh S Jain & Yogesh K Porwar 

City based financial services company founded by Sachin Bansal and Ankit Agarwal offering digital Loans,Home loans,mutual funds,health insurance,digital gold and UPI,has alleged that miscreants posing as customers misused the bug to dupe the company total worth Rs.14,2 crore in a span of 14 days .

Based on complaint filed by Srinivasa Gowda,Vigilance officer of the company situated in Ibbaluru,the Whitefield cyber crime police on Saturday registered a case under various sections of the IT act for further investigations .

According to the complaint the company along with offering financial services also allowed the customers to use the company APP to make payment in return of the online payment .

The APP also offered the customers to make final changes in the amount paid.Using this technical loopholes miscreants fabricated the payment to claim the cash bag.

The police who have sought more details about the money transactions suspected some insiders involvement who knew about the technical lapses .