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Police Arrest Prime Accused In Mahesh Bank Fraud

The police have spent Rs. 58 lakh on the investigation of the case so far, and arrested 23 persons.
Hyderabad | 30th March 2022
The Hyderabad police today arrested a prime accused in the AP Mahesh Cooperative Bank money fraud case.

The police have formed special teams involving 100 officers and conducted the investigation for a period of two months, and this is the latest fruit of that effort.

Revealing the details of the arrests of the accused, Hyderabad Commissioner of Police C V Anand said that the police had spent Rs. 58 lakh on the investigation of the case so far, and had arrested 23 persons.

He said that the servers of the bank were hacked from Nigeria, and Rs. 14 crore looted from it.

He added that the accused had also siphoned off money from three more banks, too.

Anand lamented that some banks were showing negligence in the implementation of the guidelines issued by the RBI, and that the cyber crimes were the result of the negligence.

He said that the prime accused had sent 200 phishing mails to the officials of Mahesh Bank, and that two of the employees of the bank had clicked on the mails of the accused, eventually leading to the multi-crore fraud.

He said that the accused had opened the computers of the two employees and acquired super admin access to commit the fraud.

He said that the firewalls of Mahesh Bank were not strong enough, and that all the banks should take precautions to avoid similar frauds in future.
filed in:  Crime, Hyderabad Crime, Banks, Business Crimes, Cyber Crime, Arrests, C V Anand, Police, Hyderabad Police
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