On 4th March, the Delhi Police Cyber Crime unit made a significant breakthrough by apprehending the manager of Yes Bank’s Lajpat Nagar branch, Mohammad Mukeem, for his involvement in selling fake bank accounts to cyber criminals. This illicit activity not only tarnished the reputation of Yes Bank but also raised serious concerns regarding the integrity of banking institutions and the safety of customers’ accounts.

Apart from Mukeem, two other employees of Yes Bank, Anakesh and Roshan Kumar, were also arrested in connection with the fraudulent scheme. It was revealed that these employees were opening new accounts using fake documents, which were then used by cyber criminals to carry out illegal activities undetected. The trio was allegedly receiving substantial payments ranging from Rs 15,000 to Rs 20,000 for each fake account they generated.

The involvement of bank employees in such criminal activities is alarming and brings into question the internal controls and oversight mechanisms within financial institutions. This incident comes on the heels of a similar arrest involving an employee from Kotak Mahindra Bank, further highlighting the vulnerabilities in the banking sector.

The arrested individuals were reportedly providing fake bank accounts to a cybercrime syndicate operating from Haryana’s Mewat, a known hub for cyber fraud. Transactions worth Rs 2 lakh have been uncovered so far, with a significant portion of the transferred funds ending up in the fraudulently opened accounts. The Cyber Crime unit is now diligently investigating to determine the extent of the fraud and whether there are other such fake accounts in operation.

According to ACP Priyanshu Dewan, the accused managed to open at least 12 fake accounts before their illegal activities were exposed. The police were alerted to this racket when a 30-year-old MNC executive filed a complaint after falling victim to a scam involving Rs 9.2 lakh. The criminals had coerced the victim into paying a bribe by threatening him with false legal repercussions, prompting the victim to seek police intervention.

During the investigation, it was discovered that the money obtained through the scam was funneled into the Chhatarpur branch of Yes Bank. The trail led the authorities to Roshan Kumar, one of the arrested employees, who had solicited the victim’s details. Subsequently, Mukeem, the branch manager at Chhatarpur, and his accomplices were apprehended and taken into custody for further questioning.

ACP Dewan revealed that Mukeem had retained a significant portion of the illicit gains for himself, highlighting the greed and deceitfulness of the perpetrators. The authorities are now focused on tracking down the mastermind behind the operation and ensuring that all individuals involved in the fraud are held accountable for their actions.

The proliferation of fake bank accounts poses a significant threat to unsuspecting individuals who may fall victim to cyber criminals’ schemes. These criminals employ various tactics, including creating fake websites, triggering false alerts, and impersonating innocent individuals to trick victims into transferring money into fraudulent accounts.

In light of these developments, it is imperative for banking institutions to strengthen their security measures and enhance employee vigilance to prevent such incidents from recurring. Customers must also exercise caution and skepticism when engaging in financial transactions to safeguard their assets from potential cyber threats. The collaborative efforts of law enforcement agencies, banks, and the public are crucial in combatting cybercrime and ensuring the integrity of the financial system.

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