Chandigarh. In a significant development in the Haryana bank scam investigation, the Central Bureau of Investigation (CBI) has carried out coordinated raids at multiple locations in Chandigarh and Panchkula. During the operation, the agency seized crucial financial records and digital evidence, which are expected to help expose the full extent of the alleged scam network.
Registration Begins for FutureCrime Summit 2026, India’s Largest Cybercrime Conference
Bank officials and government employees under scanner
According to the investigating agency, the case came to light after complaints were raised by the Haryana government regarding alleged misuse of public funds and serious irregularities in banking procedures. Preliminary findings indicated that certain bank officials and government employees may have colluded in a planned manner to divert government money through fraudulent financial operations.
The CBI stated that some officials of IDFC First Bank and AU Small Finance Bank are accused of working in coordination with government department employees to manipulate financial processes and execute suspicious transactions. These alleged transactions reportedly led to the diversion of public funds into multiple accounts and towards identified beneficiaries.
Seven locations searched in Chandigarh and Panchkula
The agency confirmed that on May 14, raids were conducted at seven different locations across Chandigarh and Panchkula. The searches covered residential premises, commercial establishments, and several jewellery showrooms linked to suspected beneficiaries. During these operations, investigators recovered important documents, bank records, and digital devices.
CBI officials said that the seized digital material contains key financial transaction data, which is now undergoing forensic examination. The objective is to trace how government funds were routed, which accounts were used, and how the alleged diversion mechanism was structured.
So far, 16 accused individuals have been arrested in the case, and interrogation is continuing. The agency is closely analysing banking transactions, email communications, and other digital records to reconstruct the complete structure of the alleged network.
Digital trail may reveal wider fraud network
Investigators believe that the case may not be limited to a few bank officials alone. There is a possibility that government machinery and private beneficiaries were also involved, which is why the scope of the probe is being continuously expanded.
According to CBI sources, forensic experts are attempting to recover deleted data from seized mobile phones, computers, and other digital devices. At the same time, transaction patterns are being analysed to understand how money moved from one account to another and whether shell entities were used in the process.
The case has triggered concern in administrative and financial circles. Experts note that such incidents highlight the need for stronger monitoring systems, enhanced auditing mechanisms, and advanced digital tracking tools to prevent misuse of public funds.
The investigation is currently ongoing, and the CBI has indicated that further arrests and major revelations may follow in the coming days. The agency is also working towards preparing a detailed chargesheet based on all collected evidence.
Officials have stated that the primary objective of the investigation is to uncover every layer of the alleged scam and determine the exact level of involvement of all individuals and institutions linked to the case.
