Two defraud Dena Bank of Rs 12.48 lakh

Ludhiana, February 8

Advertisement

The police have arrested two persons for making fraudulent withdrawals from ATMs of Dena Bank. The suspects, Honey and Sourav Sharma, both residents of Chandar Nagar, had withdrawn about Rs 12.48 lakh from ATMs of Dena Bank situated across the country in the past three months.

On a complaint by Deputy Zonal Manager of Dena Bank, Ludhiana, Ram Dyal Negi, a case of fraud has been registered against the two suspects. Negi said the suspects had withdrawn cash from ATMs of Dena Bank situated in Ludhiana, Delhi, Gujarat and Chandigarh. They were using ATM cards of Axis Bank which were issued by a local bank recently.

“These swindlers were making fraudulent withdrawals from ATMs through genuine ATM cards. The fraud has exposed a defect in the banking security system. Despite cash having been withdrawn from an ATM machine, and the beneficiary receiving the message of withdrawal, the ATM shows the transaction as declined and the same entry will not show in the banking record. The swindlers used to take refund from the banks for these transactions.

“After inserting the card in an ATM, the moment machine is about to dispense cash, the suspects used to cut the power supply to the machine. While swindlers got money, the ATM slip showed transaction as declined. As the bank had no ATM records, the suspects got refund against the ‘transaction’. In the past three months, they had withdrawn Rs 12.48 lakh through fraudulent transactions”.

ASI Jaswinder Singh said investigation may expose more fraudsters. — TNS