HDFC Bank suspends employees held for attempts of unauthorised withdrawal from high-value NRI account

HDFC Bank has suspended the employees who were arrested by the Delhi Police for alleged involvement in attempts of unauthorised withdrawal from high-value NRI account, says an ANI report quoting a bank statement. 

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"On the basis of the FIR, police has arrested suspects including bank staff. We have suspended bank staff pending outcome of the investigation" the bank said in the statement on Tuesday. 

"Our systems detected unauthorised and suspicious attempts to transact in certain accounts. Basis the system alerts, we reported the matter to law enforcement agencies for further and necessary investigation, and lodged an FIR," added the bank. 

The bank further informed that it is extending full support to the law enforcement agencies in the investigation. 

"At HDFC Bank, there’s zero tolerance for any misconduct, financial or otherwise," it added. 

Delhi Police Cyber Cell arrested 12 people, including three HDFC bank employees, for attempting to make unauthorised withdrawals from a high-value NRI account. 

KPS Malhotra, Deputy Superintendent of Police (DCP) (Cyber Cell), informed today that as many as 66 attempts of unauthorised online transactions were made by the group on the high-value account. 

"The accused had fraudulently obtained cheque book which has been recovered. 

Mobile phone number identical to that of account holder`s US-based phone number was also procured by the fraudsters," the DSP stated. 

"On the basis of technical evidence, footprints, and human intelligence, multiple geolocations were identified. 

In all, raids were conducted at 20 locations across Delhi, Haryana and Uttar Pradesh," he further informed. 

Further raids are in progress and investigation in the case is being carried out. 

From the interrogation of the accused persons, it has been revealed that the main mastermind has come to know that the said NRI account is dormant and has huge funds. He along with his associates R. Jaiswal, G. Sharma and A.Singhal had gathered information regarding the account, Zee Business has learnt from the sources.  

It was further revealed that with the help of one female employee of HDFC, they got issued a cheque book of the said account and got removed the debt freeze of the account.  

The investigation has revealed that HDFC bank employee was promised Rs 10 lakhs and insurance business of Rs 15 lakhs (which was target assigned to her by the bank for appraisal).  

In the earlier instances, there were attempts of withdrawal of money from this account. Two cases were earlier registered one at Ghaziabad, UP and one at Mohali, Punjab. 

Thereafter, the cheque book and the mobile phone came in possession of R. Jaiswal, who distributed leaves of cheque book to his other accomplishes for clearance of the cheques with understanding of sharing 50% of the total money withdrawn from the account in lieu of giving consent to the bank over phone on behalf of actual account holder. 

D. Chaurasiya and A.Singh (both employee of HDFC bank) had attempted to update the phone number linked in the KYC. Other associates had tried to login to the internet banking of the account for the purpose of transfer of amount. 

All these attempts of withdrawal, unauthorized login attempts to internet banking, updating of mobile phone number was only possible due to connivance of the bank employees. 

Further raids are in progress and investigation is being carried out.