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Assam Police have arrested a former IDBI Bank employee and another man for allegedly facilitating cyber fraud through bank accounts opened in different individuals’ names. Investigators suspect the former employee misused his position to help criminals receive and transfer stolen money.
The investigation came to light after police intercepted a suspected mule account holder who visited an IDBI Bank branch in Guwahati to reactivate his account. His questioning allegedly revealed the involvement of a former bank executive in a wider financial fraud network.
Police are now examining account-opening documents, transaction records and payment QR codes to establish how the suspected operation functioned and identify other individuals involved.
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Bank Account Reactivation Attempt Leads To Two Arrests
According to Assam Police, the operation began after officers received intelligence about suspicious banking activities.
The first accused, identified as Shamnur Rahman, 33, was intercepted at an IDBI Bank branch in Panbazar, Guwahati, while attempting to reopen his account.
Rahman is a resident of Borokalia Sharsho, under Fakirganj Police Station in Dhubri district.
During questioning, investigators allegedly uncovered the involvement of Subham Sah, 27, a resident of Fatasil Ambari in Kamrup Metropolitan district.
Sah previously worked as a Temporary Business Development Executive at the same bank.
Police suspect that he exploited his position to facilitate the opening of multiple accounts that were subsequently used for cyber fraud. He allegedly helped arrange payment QR codes linked to these accounts, allowing suspected fraud proceeds to enter the banking system.
Investigators believe the two accused worked with other associates. However, police have not yet disclosed the total number of accounts involved, the amount of money transferred or the number of victims connected to the operation.
How Bank Accounts And QR Codes Allegedly Helped Move Stolen Money
The accounts involved in the investigation are suspected to have functioned as mule accounts.
A mule account is a bank account used to receive or transfer money on behalf of another person, often to conceal the movement of funds obtained through criminal activities.
Cybercriminals frequently rely on such accounts because receiving money in their own names can make them easier to identify.
In the Guwahati case, police suspect that the former bank employee helped arrange accounts and their associated QR codes.
A payment QR code allows users to transfer money by scanning an image containing the recipient’s payment information.
The technology itself is legitimate and widely used by businesses and individuals across India. However, criminals can misuse payment codes linked to accounts under their control.
For example, a fraudster posing as an online merchant may provide a QR code to collect money from a customer. The payment may enter an account registered to someone who has no direct involvement in communicating with the victim.
Investigators must then establish who controlled the receiving account and where the money was transferred afterwards.
Police have not publicly established whether the specific QR codes in the Guwahati case were used to deceive victims directly or primarily to receive money generated through other scams.
Former Bank Employee’s Role Raises Questions About Internal Safeguards
The alleged involvement of a former banking employee introduces another dimension to the investigation.
Banks are required to verify customers’ identities through Know Your Customer, or KYC, procedures. These checks help establish who owns an account and whether the documents submitted during registration are genuine.
However, the effectiveness of these safeguards also depends on how employees and authorised representatives implement them.
If someone responsible for facilitating account openings knowingly assists fraudulent applicants, criminals may gain access to banking facilities that appear legitimate in official records.
Investigators are collecting KYC documents, bank statements and QR code details to examine the circumstances surrounding the accounts allegedly arranged by Sah.
The available police findings do not establish whether IDBI Bank’s internal systems were compromised or whether other employees were involved.
The allegations concern the conduct of a former employee and his suspected associates. They should not be interpreted as evidence of institutional involvement by the bank.
Assam Police Continue Crackdown On Mule Account Networks
The latest arrests follow several investigations involving suspected mule accounts across Assam.
On 11 November, Assam’s Criminal Investigation Department arrested a man in Guwahati’s Jalukbari area for allegedly opening bank accounts using customers’ personal information without their consent.
Investigators identified the accused as Naveen Hussain, who reportedly operated an HDFC Bank Customer Service Point. Police suspected that accounts connected to his operation received several lakh rupees through fraudulent transactions.
Earlier, on 2 November, Assam Police disclosed the arrest of six individuals in a separate financial fraud investigation involving mule accounts and suspected cross-border connections.
Neither investigation has been publicly linked to the latest IDBI Bank case.
For investigators in Guwahati, the immediate priority is establishing who controlled the suspected accounts, tracing the money transferred through them and determining whether additional intermediaries helped facilitate the operation.
What This Means For You:
Never allow another person to open or operate a bank account in your name, even if the offer comes from someone claiming to be a bank employee. Report unfamiliar accounts, unauthorised transactions or suspicious payment requests to your bank and the national cybercrime helpline 1930.
