Noida Police arrested two employees of Paytm Payments Bank for illegally releasing ₹30 lakh from bank accounts that that had been frozen due to suspected fraud.
What is the case?
- Two employees of Paytm Payments Bank Chandresh Rathore and Tariq Anwar had special access to the bank’s system.
-
They used their access to secretly unfroze some bank accounts that were frozen (blocked) by the police or other investigating agencies because they were suspected to be involved in cyber fraud.
-
They remove the restrictions of these accounts without getting permission from the police or court.
-
Once the restrictions were removed, they allowed money to be withdrawn (nearly ₹30 lakh) unlawfully from these accounts.
- Paytm Payments Bank conducted an internal investigation and discovered that two of its employees were involved in suspicious financial activities.
- This breach of protocol and trust led the bank to file a complaint with the police, which eventually resulted in the employees’ arrest.
- A complaint was filed in August last year.
Key Findings from the Police Probe
- Police say the two employees were working with a middleman, who contacted the people whose accounts were frozen.
-
These account holders would pay bribes to the employees to get their accounts unfrozen.
-
According to a senior police officer, the two accused had been helping cyber criminals like this for several years.
The investigation is still ongoing, and the police also suspect that more employees from Paytm Payments Bank could be involved in this illegal activity.
Also Read: Bank Fraud in Three Different Locations, Bank Fraud Persists Without End
Woman Accused of Cheating South Indian Bank with Forged ITR and Fake Statements
HDFC Bank Employees Accused of Embezzling Customer Funds for IPL Betting Scam
E-Auction Trap? Bengaluru DCP Buys Flat in E-Auction, Faces Claim from Another Bank