Cyber Crime
How Using Fake Emails and IDs Scammers Stole Rs 120 Crores From UP’s Abdul Kalam Technical University (AKTU)
LUCKNOW: A team of diligent UP police officers successfully thwarted a major cyber fraud scheme involving a staggering Rs. 120 crores. The fraudsters, who had meticulously crafted fake mail IDs and documents, impersonated officials of Dr. A.P.J. Abdul Kalam Technical University (AKTU) and Union Bank, managing to siphon off a substantial amount of money. Thanks to the swift action taken by law enforcement, Rs. 119 crores have been recovered and returned to the concerned bank account.
The Fraud Unfolds: A Detailed Account
On June 12, 2024, Union Bank branch manager Anju Kumar Saxena reported a suspicious activity involving an offer letter for a Fixed Deposit (FD) of Rs 100 crores and above. Upon investigation, it was discovered that cybercriminals had created fake mail IDs of AKTU and the bank and used forged authority letters, and KYC forms to become official operators. They then opened an account in the name of AKTU at Union Bank and transferred Rs. 120 crores from AKTU’s account to their newly created account.
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The culprits used fake documents to present themselves as authorized representatives of AKTU. They created fraudulent mail IDs such as ubin0803448@unionbanks.co.in and fo@aktu.ac.in, and fo@aktufinance.in. These were used to send deceptive emails to Union Bank, facilitating the fraudulent transfer of funds.
Method of Crime Execution
The criminals executed their plan meticulously:
- Fake Mail IDs and Authority Letters: The fraudsters created fake mail IDs for AKTU and Union Bank and sent emails impersonating these entities.
- Forged Documents: They prepared fake authority letters and KYC forms, presenting them to the bank to open an account in AKTU’s name.
- Deceptive Emails: Emails were sent from the fake mail IDs to Union Bank to authorize the opening of an FD account.
- Fund Transfer: Once the account was opened, Rs. 120 crores were transferred from AKTU’s account to the new account. Out of this, Rs. 100 crores were further transferred to other accounts via RTGS.
Police Action: Operation and Investigation
Upon registering the case under sections 419/420/467/468/471/120B IPC, and 66D IT Act, a specialized task force was formed under the supervision of the Police Commissioner of Lucknow.
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The task force swiftly activated their information systems and utilized advanced technical resources to track down the suspects. The investigation led them to multiple locations, including Surat, Ahmedabad, and Lucknow, resulting in the arrest of the accused on June 17, 2024. The accused were subsequently lodged at the Cyber Crime Police Station in Lucknow.
Accused Individuals: Background and Details
The seven individuals arrested for their involvement in this elaborate scheme are:
- Joshi Devender Prasad Prabhashankar
- Patel Uday .
- Rajesh Babu.
- Girish Chandra..
- Shailesh Kumar Raghuvanshi.
- Dastagir Alam.
- Krishnakant.
Outcome and Recovery
During the investigation, the bank accounts used by the accused to transfer the stolen funds were identified and promptly frozen. This quick action enabled the recovery of Rs. 119 crores, which was returned to the rightful bank account, ensuring minimal financial loss to AKTU.
The swift and coordinated effort by the UP police force has not only brought the perpetrators to justice but also showcased the effectiveness of law enforcement in combating cyber crime. The successful outcome of this case highlights the commendable collaboration between the bank and Lucknow Police. Their vigilance and swift action prevented a major financial loss and brought the perpetrators to justice.