Former bank official held for fraudulently transferring 19 crore from clients' account into own

On August 7, 2020, two account holders disputed some debit transactions from their accounts through the cash management portal (CMS) of the bank.

NEW DELHI: A former assistant vice-president of a bank was arrested for allegedly transferring more than Rs 19 crore from the clients' accounts into his own fraudulently, police said on Saturday. The accused has been identified as Nagendra Kumar, they said.

The vigilance department of the bank filed a complaint stating that Kumar was their employee and posted at the Barakhamba Road branch, a senior police officer said.

On August 7, 2020, two account holders disputed some debit transactions from their accounts through the cash management portal (CMS) of the bank, the officer said.

The bank later came to know that Kumar transferred Rs 19.80 crore from these accounts to his own accounts in different banks. The complainant bank contacted the banks in which the amount was transferred by the accused and got the cheated money back into the victims' accounts, Deputy Commissioner of Police (Economic Offence Wing) Jitendra Kumar Meena said.

Kumar, being the assistant vice-president in the department of implementation and client support, had permissions to read and write in the host-to-host banking system (secure file transfer protocol) of the bank, police said.

On August 7, 2020, he created two fund transfer files having eight transactions and uploaded them to the folder of these companies in the host-to-host banking system, they said.

Thereafter, the cash management system of the bank automatically sent these files for payment. After transferring the amount, Kumar left his job by sending his resignation on the same date at 5.44 pm through an email, police said.

Kumar was apprehended on Friday from Vasant Kunj area, Meena added.