Bank Fraud Exposé: Arrests in Rs 2,500-Crore Cyber Scam

In a significant development in the massive Rs 2,500-crore cyber fraud case, three top officials from leading private banks have been detained. The arrests, made in Gujarat's Rajkot district, bring the total number of apprehensions in connection with the fraud to 20, further revealing the depth of the financial deceit.

This alarming fraud has been linked to 85 separate bank accounts, with a staggering 535 complaints filed on the official cybercrime portal. Noteworthy arrests include Maulik Kamani, Kalpesh Dangariya, and Anurag Baldha, all holding crucial banking positions and allegedly facilitating fraudulent activities.

Detailed investigations unveiled that Kamani, who served as a personal manager at Yes Bank, played a pivotal role in circumventing banking protocols, while others like Dangariya and Baldha were involved in the creation and management of deceitful accounts. The total fraudulent transactions are reported to exceed Rs 2,500 crore.