Investigation reveals fake firms, forged documents, and misuse of internal banking access
Lucknow – In a major crackdown on financial cybercrime, the Lucknow Cyber Cell has arrested a deputy branch manager of a private bank along with two associates for their alleged involvement in facilitating fraudulent firms and fake bank accounts used to launder over ₹6 crore obtained through online scams.
The arrested bank officer, identified as Uttam Vishwas, allegedly exploited his position to open multiple current accounts in the names of non-existent firms. These accounts were later used as channels to route proceeds from nationwide cyber fraud operations.
His two accomplices, Umakant Verma and Rajiv Vishwas, were found to be responsible for fabricating documents and transferring funds derived from fraudulent transactions into these bogus accounts. Authorities have seized fake identity papers, mobile devices, and several bank passbooks from the suspects.
How the Fraud Operated
According to officials, the trio functioned as a financial conduit for larger cybercrime syndicates operating across India. Money siphoned from online scams was first deposited into the fake corporate accounts and then layered through multiple digital transfers to conceal its origin, making the funds appear legitimate.
Preliminary findings suggest that the accused used forged GST numbers, PAN cards, and company registrations to create a facade of authenticity while opening these accounts. Investigators are now probing whether higher officials within the bank were aware of these irregularities or complicit in the process.
Widening Scope of Cyber Financial Crime
Cybercrime officials in Uttar Pradesh say that incidents of bank-linked cyber fraud have surged sharply in recent months, with internal collusion emerging as a critical vulnerability in India’s financial security infrastructure.
A senior cyber police officer told India Today,
“This case shows that cybercrime is no longer confined to online deception alone. Criminals are exploiting institutional loopholes and insider access within the banking system to legitimize stolen funds.”
Next Steps in the Probe
All three accused have been remanded in police custody. Investigators are tracing the broader financial trail and suspect that similar fraudulent accounts may have been opened in other states as well.
Authorities believe this network could be part of a larger pan-India money-laundering chain, linking local fraud operations to organized cybercrime groups operating from different regions.
