Pramesh S Jain
The Central Bureau of Investigation has conducted searches at around 13 locations at the premises of accused and others including private persons and bank officials situated in including at Kolkata and Mangalore and seized mobile phones,laptops,computer systems, email archives,and debit and credit cards used in the crime.
A case was registered on complaint from UCO Bank, against two Support Engineers working with UCO Bank and other unknown persons on the allegations of suspicious Immediate Payment Service (IMPS) transaction amounting to approximately Rs.820 crore.
According to the official release,that between November 10,2023 and November,13,2023,IMPS inward transactions originating from 14000 account holders across seven private banks were directed to 41000 account holders within UCO Bank through the IMPS channel.
It was further alleged that this intricate network involved a staggering 8,53,049 transactions and these transactions were mistakenly posted in the UCO Bank account-holders’ records,despite the originating banks registering failed transactions.
Consequently,an approximate sum of Rs.820 crore was allegedly found its way into UCO Bank accounts without proper debits from the originating banks’account holders.
It was also alleged that several account holders exploited this situation,illicitly withdrawing funds from UCO Bank through various banking channels,thereby benefiting wrongfully from the transaction.
