Punjab National Bank / Fraud worth Rs 16,000 crore detected in Mumbai - Bigger scam than PNB scam exposed

Punjab National Bank: A bigger scam than the Punjab National Bank (PNB) scam has been exposed in Mumbai. Let us tell you that in January 2018, a scam of Rs 12,000 crore came to light in Punjab National Bank. Top diamond traders were involved in this scam. This scam has been revealed in the investigation of a digital payment company. Let us tell you that this big scam was officially exposed on October 9 by Srinagar Police Station, Thane, which has registered an FIR after a complaint was lodged by SafeXpay Technology Pvt. Ltd., Thane. When Mumbai Police looked into one of the millions of transactions made daily by the digital payments company, it was found to be a fraudulent transaction worth more than Rs 16,180 crore. This case has put the Thane police in a dilemma.

This is how the fraud was carried out

Police investigators said that SafeXpay's payout platform was allegedly hacked by some unknown entities, and subsequent investigation revealed that at least Rs 16,180 crore had been misappropriated, some of which was sent abroad. Are. Ravi Gupta, founder-CEO of Thane-based SafeXpay, said the scam came to light around April when four merchants from Delhi, Tamil Nadu, Madhya Pradesh and Uttar Pradesh reported suspicious discrepancies between bank balances and system balances.

The complaint was filed on April 20

A careful internal investigation by SafeXpay's financial operations teams found that the login of one of the four merchants had been compromised and further found that the suspicious transactions were not theirs. SafeXpay, which is said to handle more than 100,000 transactions every day, immediately reported the matter to the beneficiaries and the banks concerned, as well as initiated a process to stop the illegal transfer of funds during the so-called 'golden period' of. Gupta said, this cyber crime resulted in a loss of Rs 25 crore and Safexpay, shocked by the revelations, immediately lodged a complaint with the Thane Police Cyber Crime Investigation Cell and the National Cyber Crime Portal on April 20.

Bank accounts were opened with fake documents

The police suspect that many more people are involved in the big racket of opening bank accounts with fake documents and running units with fake papers with the intention of defrauding the banks and the government. In the wake of the fraud, SafeXpay has now implemented more monitoring by various teams, enabling additional alerts (4 hours instead of 1 hour) for any suspicious transactions on the platform, vigilance at system levels, real-time monitoring and forensics, an official said. Has tightened its system with investigation.