One person arrested for defrauding Nagaland Co-operative Bank of INR 2 crore

Dimapur, Aug. 9 (EMN): Dimapur police has arrested one person on criminal charges of defrauding the Nagaland Co-operative Bank (NCB) Dimapur of INR 2,00,00,000 (INR 2 crore).

The police arrested one Gyanendra Singh, 26, from Gonda district, Uttar Pradesh following a complaint filed by the NCB Dimapur that during 2020-21, unknown people had brought a huge financial loss of INR 2 crore to the bank by raising falsified chargeback claims on ATM transactions through multiple ATM cards of various banks, according to Addl. Dy. Commissioner of Police/PRO, Dimapur.

“During the investigation supervised by ACP ‘C’ Division, it was revealed through the arrested individual that personal bank accounts would firstly be opened in various banks of the country especially in Chandigarh and Uttar Pradesh, after which physical travels would be made to Dimapur to withdraw cash from the Co-operative Bank ATM,” read the press release from the update.

“On successful withdrawal of cash the individual would travel back to other states and make false chargebacks from the parent bank branch on the concocted claim that during the ATM withdrawal process, the amount was debited from his account even though the ATM could not dispense the required cash,” it added.

The update went on to inform that six ATM cards of Punjab National Bank and SBI; Aadhaar card and a flight ticket were also seized from the accused.

A case had been registered in West Police Station, Dimapur in this connection.