Bank Fraud – Gang Steals Money via OTP From Bank Accounts

New Type of Banking Fraud – A new modus operandi came to the notice of New Delhi district police while investigating a case of Banking Fraud. It was revealed that one of the customer of Central Bank of India (CBI) lost approximately Rs 11.5 lakh from his current account. The victim had an account at the Ashok Hotel branch of Central Bank of India.

During investigations it was found that crooks succeeded in changing the Registered Mobile Number in Bank account of customer and use the new connection to receive OTPs for transactions.

It is also revealed that two persons had arrived at the bank and one of them impersonated the account holder. They requested a change in the registered mobile number and filled in the prescribed form. Once the new mobile number was registered, the crooks carried out online transfers from the victim’s account using the OTPs sent to the new phone.

The Rs 11.5 lakh withdrawn in this manner was transferred to six different accounts held in a bank in Dwarka and then withdrawn through ATMs and cheques.