Siblings Arrested For Assisting Conmen Steal Rs 1.96 Crore From Telangana Bank

HYDERABAD: Hyderabad cybercrime investigators apprehended two people from Serlingampally area for conspiring with an African national to steal Rs 1.96 crore from Telangana State Co-operative Apex Bank’s core bank account.

Yaseen Basha and his brother Md Rafi from Serilingampally have been identified as the accused. S Srinivasa Rao, deputy general manager of Telangana State Co-operative Apex Bank in Troop Bazar, filed a complaint on Wednesday, stating that they had discovered fraudulent cyber-transactions in the bank via the IMPS channel totalling Rs 1.96 crore between July 9 and July 13.

The fraudulent transactions originated from three customer accounts opened at the bank’s Secunderabad and Chandanagar branches.

“There was an unauthorised access to the bank’s network, and the amount was transferred from the core account to two of the three accounts created on July 9 at the Chandanagar and Secunderabad branches,” the complainant claimed.

On Thursday, police arrested the brothers following a quick investigation. The duo stated that they were contacted by an African national from the Tolichowki area who offered to pay a 10% commission for opening bank accounts and allowing him to use the accounts for financial fraud.

According to the accused, after opening the bank accounts, they transferred Rs 2 lakh into Yaseen’s account and Rs 1.94 crore into another account opened in the name of a woman at the Secunderabad branch. An unidentified associate of the African man hacked into the bank’s server and transferred the funds in these accounts.

On the morning of July 14, Yaseen withdrew Rs 2 lakh and gave the African Rs 1.8 lakh after deducting his commission.

The Rs 1.94 crore in the Secunderabad branch account was later transferred to ten other bank accounts throughout the country. The money was withdrawn by the fraudsters at various locations after a total of 102 fraudulent transactions,” KVM Prasad, ACP, Cybercrime said.

The woman who opened the account in Secunderabad and the African identified as Wilson are still missing.

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