Bengaluru: An assistant manager at a nationalised bank branch in Bengaluru has been arrested for allegedly stealing nearly 2.7 kilograms of gold ornaments from customer lockers and pawning them to finance online gambling and betting activities.
Police identified the accused as Kiran Kumar (34), an employee of Indian Bank. Investigators said Kumar misused his access to locker keys and gradually removed small quantities of pledged jewellery, mainly during periods when the branch manager was not present.
The theft came to light on January 2, when customers arrived at the branch to retrieve their pledged gold. During routine locker verification, discrepancies were noticed, prompting a detailed internal inspection. Subsequent checks revealed that several lockers contained significantly less gold than recorded, leading the bank to alert police.
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According to investigators, Kumar allegedly adopted a methodical approach to avoid immediate detection, removing ornaments in instalments over an extended period. The stolen jewellery was then pawned at multiple locations, with the proceeds allegedly channelled into online betting platforms.
Police sources said preliminary questioning revealed mounting gambling losses, which pushed the accused to exploit his official position. “He had legitimate access to the locker area and used that trust to siphon off gold in small quantities,” an officer familiar with the probe said.
Following a complaint from the bank, a case was registered and Kumar was taken into custody. Recovery efforts are currently underway, with police tracing pawn shops and financial trails linked to the accused. Authorities are also auditing locker records to determine whether more customers may have been affected.
Bank officials have initiated an internal inquiry and assured customers that steps are being taken to strengthen locker security protocols. Additional safeguards, including stricter access controls and enhanced CCTV monitoring, are expected to be rolled out to prevent similar incidents.
The case has once again highlighted vulnerabilities in physical asset security at banking branches, particularly in gold loan and locker operations. Industry observers say the incident underscores the need for tighter oversight, dual-control mechanisms and frequent audits to protect customer valuables.
Police confirmed that Kumar will be produced before a magistrate, while further investigation continues to establish the full extent of the fraud and recover the remaining ornaments.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
