Main suspect in Rs 16 cr Nainital Bank fraud held

Noida: The Gautam Buddh Nagar police have arrested a man in connection with the bank fraud to the tune of over Rs 16 crores in The Nainital Bank in Greater Noida’s Dadri area, said police on Tuesday.

According to police, the arrested accused has been identified as Harsh bansal, a resident of Dadri.

It is alleged that he along with brother Shubham Bansal, who is a Chartered Accountant (CA) formed fake companies and cheated banks by hacking the RTGS (Real Time Gross Settlement) channel.

ACP Vivek Ranjan Rai of cybercrime police said that a complaint was registered by the bank manager at sector 62 police station against unknown individuals who managed to access server security and execute transfers totaling around Rs 16 crore to various accounts.

Police revealed that 89 bank accounts were involved in a Rs 16.01 crore fraud. The RTGS team discovered the issue on June 20 after a balance sheet discrepancy on June 18.

Funds totaling Rs 16 crore, 1 lakh, 83 thousand, and 261 were illicitly transferred between June 16 and June 20.

Harsh and his brother, who is still at large, ran the scheme through a fake company in Ghaziabad’s Loha Mandi, with transactions over Rs 30 crore. Investigations into additional fake companies are ongoing, with three teams searching for the absconding brother.