Bhubaneswar: The Cyber Crime Unit of Odisha Crime Branch has busted a banking fraud racket that was involved in forgery and misappropriation of deposited money to the tune of more than Rs. 1.04 crores from the Dhenkanal Branch of ICICI Bank during the year 2021-22.
During the investigation, the Vigilance has arrested the former Relationship Manager, Swagatika Swain (28), and her husband Manoj Kumar Sahoo(29) and Prasant Ku Sahoo, Deputy Bank Manager of ICICI Bank and they are being produced before the court of SDJM Bhubaneswar today, the Vigilance said.
According to the Vigilance, the Regional Head of ICICI Bank Financial Crime Prevention Group had complained to the Crime Branch that several customers of the Dhenkanal Branch have raised concerns regarding unauthorised transactions from their ICICI Bank accounts. Upon such allegations, the bank had an internal enquiry done and it was ascertained that fraudulent transactions were carried out in the form of unauthorised overdrafts against fixed deposits.
Such overdrafts were availed through the i-Mobile application, fake investments in mutual funds, pre-closure of FD and misappropriation of Premium amounts related to ICICI prudential policy. Swagatika Swain, an Ex-Employee of the bank, had carried out the alleged disputed transactions for personal gain, violating the established rules and procedures. All the alleged transactions were done from 1st February 2021 to 30th June 2022.
Based on the report, the case was registered at CID CB Cyber P.S. and was investigated by a team of officers led by Dy SP Rajat Ray, Inspr. Anila Anand & others.
During the investigation, it was revealed that the accused Swagatika Swain, who was then working in ICICI Bank Dhenkanal Branch as a Relationship Manager during the period was entrusted to provide doorstep service to the elite customers of the branch.
She along with her husband Manoj Ku Sahoo targeted mostly the senior citizens who were less aware of the use of electronic gadgets and online banking and in the veil of maintaining good relationships with such customers, the couple used to access their details and gradually started misusing the trust. As a banker, Swagatika had access to the banking system. She could even change the registered phone numbers of targeted accounts violating the rules, without the knowledge of the Account Holder and keeping them in the dark about the fraudulent transactions.
The Deputy Branch Manager and Manager of the Dhenkanal branch also seem to have connived through their silent approval of such acts. So far 11 of such defrauded account holders have been identified to whom the Bank has suo-moto reimbursed lost money amounting to the tune of Rs Rs. 87,54,047.
Many more such complaints can crop up in the coming days. Swagatika Swain and Manoj Ku Sahoo were investing the ill-gotten money with a money lender.
The investigation so far reveals three similar cases are registered at Dhenkanal Town P.S against Swagatika Swain and her associates. Further complicity in other offences is under investigation, the Vigilance added.
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