Woman Bank Official Siphon Off Customers FD Money, Invests Them In Stock Markets; And Then…

New Delhi: A woman bank officer of ICICI Bank in Rajasthan has reportedly duped customers of above Rs 4 crore. As per a report in NDTV the woman has now been arrested and sent to judicial custody. 

Invests money in stock market, fails to deposit money back

As per NDTV reports the woman officer named Sakshi Gupta was the relationship manager of the ICICI Bank in Rajasthan. By luring customers to generate high returns in a short period by investing in stocks, she duped customers of more than Rs 4 crore. Between 2020 and 2023, she allegedly exploited the ‘User FD (Fixed Deposit)’ link to illegally withdraw Rs 4.58 crores from 110 accounts of 41 customers, NDTV report has said. 

As per reports, the fraud continued for two years but no one in the bank knew about it. According to the investigations mentioned in the report, Gupta used the funds to buy stocks. However, she suffered significant market losses and could not deposit the money back in the accounts. 

The scam was exposed when a customer came to the bank to inquire about his FD. The police arrested Gupta late last night at her sister’s wedding. She has been sent to judicial custody. 

Mobile number changed to withdraw money

To prevent customers from knowing about the transaction messages, the woman banker even changed the mobile numbers of the customers linked with the accounts. “She linked the phone numbers of her family members to these accounts and withdrew more than Rs 4 crore. She even devised a system that she used to get the OTPs on her system so that the account holders don’t get a whiff of the fraud,” NDTV referring to investigating officer Ibrahim Khan has reported.

Bank may compensate the loss suffered by customers

The bank filed a case with the police on February 18. NDTV quoting sources in the bank said that the bank will compensate the loss suffered by customers.

Customers say that bank is unsafe for keeping money 

After learning about Gupta’s arrest, a customer reached the bank to check if his money was safe. The customer was clueless at the dichotomy of whether his money was safe in bank or at home.