India – Bank executive held for card ‘fraud’

By | April 23, 2017

KOLKATA: Bidhannagar Police on Friday arrested a private bank employee in connection with credit card fraud. Two more accused, one of them an employee of the same bank, were arrested earlier this week. They duped the bank of Rs 18.18 lakh.

Sources said accused Anupam Bhaumik and Sutirtha Saha are employees of the Salt Lake, BD block branch of the private bank. While Anupam worked as a sales manager, Sutirtha — who was arrested on Friday — worked as a relationship manager.

The racket came to the fore when the regional manager of the bank lodged a complaint with Bidhannagar North police station last October. “It was found that a credit card fraud racket has been active since 2014,” said police.

The bank started probing a case of non-payment of dues last year in which it was found that nine members of a family were allegedly offered credit cards by the same bank. After the cards were issued, they used those frequently and exhausted the limits. But, none of them cleared the dues.

Later, police came to know that all the nine persons had high-value accounts with another private bank. When they opened savings accounts with the Salt Lake branch of this bank, they were issued pre-approved credit cards. One of the family members, Ujjwal Kundu alias Kajal Jana, got in touch with Bhaumik, who then “connived” with Saha to issue credit cards without proper verification. Since the accounts opened with the Salt Lake branch of the bank were high-value accounts, the management initially did not suspect their motives. The role of other eight alleged members of the family is also under scanner.

Primarily, deposits with all nine savings accounts were withdrawn. The next step was to use the cards towards purchases or cash withdrawals. While interrogating the shop owners, police found the accused took some of them into confidence. They actually made cash withdrawals through the cards although it was reflected as purchases in the shops’ records. They offered a hefty commission to shop owners. The mastermind of the case, Kundu, was arrested a week ago following which cops arrested Bhaumik.
Source: Times of India