Bank manager among 3 held for Rs 20 crore cyber fraud racket

Lucknow: The Cyber Crime Cell Lucknow on Thursday busted a racket involving fake firms and fraudulent bank accounts used to siphon off crores of rupees through online scams.Three accused — including a deputy branch manager of a private bank — were arrested. The arrested accused has been identified as Umakant (36), Rajiv Biswas (28), both residents of Basti district, and Uttam Kumar Biswas (44), deputy branch manager of a private bank, Chinhat, residing at Kiran Enclave, Kursi Road. On Nov 5, the cyber team received a tip-off that Umakant and Rajiv were engaged in large-scale cyber fraud. Acting swiftly, the team apprehended both suspects near Axis Bank, Gol Market. "On interrogation, they revealed their association with Uttam Kumar Biswas, a senior bank official who facilitated the creation of fake bank accounts used in frauds. Based on the leads, the team raided Kiran Enclave on Kursi Road and detained Uttam Biswas, who later confessed to his involvement. The trio was booked under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and IT Act," said Cyber Cell inspector, Brijesh Yadav. Yadav added that the investigations revealed that Umakant and his associates floated fake companies and opened multiple bank accounts through it. The network used these accounts to receive money obtained from online gaming frauds and cyber scams. "Biswas allegedly played a crucial role in approving these accounts and ensuring that they passed internal scrutiny. In return, he received 10–20% commission from each fraudulent transaction. The money was used to buy land and gold jewellery," inspector Yadav added. Analysis of the seized mobile phones, cheque books, and passbooks revealed over 40 cyber fraud complaints registered across various states. The total value of fraudulent transactions routed through these accounts is estimated at over Rs 20 crore. Officials confirmed that detailed data from the seized devices and bank accounts are being analysed, and further arrests may follow as part of a wider cyber fraud network operating across India. "We are coordinating with other states to trace the money trail," said an officer.
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