In a major crackdown on digital financial crime, Lucknow’s Cyber Crime Cell on Thursday arrested three individuals, including a deputy branch manager of a private bank, for allegedly orchestrating a ₹20-crore cyber fraud network involving fake firms and fraudulent bank accounts.
The accused — identified as Umakant (36), Rajiv Biswas (28), and Uttam Kumar Biswas (44), the deputy branch manager of a private bank in Chinhat — are believed to have played central roles in setting up shell companies to launder proceeds from online scams and gaming frauds.
How the Cyber Racket Operated
According to Cyber Cell inspector Brijesh Yadav, the scheme revolved around the creation of dozens of fake companies and accounts, which were then used to route illicit funds siphoned through digital fraud. The arrested bank officer allegedly approved these accounts despite red flags, ensuring they passed internal scrutiny in exchange for a 10–20% commission per transaction.
“The funds were later used to purchase land and gold jewellery,” Yadav said, adding that investigations revealed over 40 cyber fraud complaints across multiple states linked to these accounts.
Authorities estimate that the total amount involved in the fraudulent transactions exceeds ₹20 crore, making it one of the largest cyber frauds busted by Lucknow police in recent months.
Arrests and Expanding Probe
Police said the arrests followed a tip-off received on November 5, after which a team apprehended Umakant and Rajiv near Axis Bank at Gol Market. Their interrogation led to the arrest of the bank official from Kiran Enclave, Kursi Road, who later confessed to his role.
The accused have been booked under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. Investigators are now combing through seized mobile phones, cheque books, and passbooks to identify additional beneficiaries and collaborators.
Officials confirmed that coordination with cyber units in other states is underway to trace the larger money trail and determine whether the network had international links.
A Growing Pattern in India’s Cybercrime Landscape
The Lucknow case reflects a broader national concern over the collusion of banking insiders in cyber frauds. Experts note that such crimes increasingly exploit the digital banking ecosystem, where lax verification processes and insider complicity enable large-scale financial laundering.
Cybercrime units across India have reported a surge in “fake company” and “digital mule” scams, where legitimate institutions are used as conduits for laundering illicit funds through gaming apps, phishing, and investment frauds.
As the investigation deepens, officials warn that further arrests are likely — and that the ₹20-crore fraud may only be the tip of a much larger digital crime network.
