How did ICICI employee use elderly woman’s account to ‘pool’ & steal ₹4.58 crore from FDs?
In a shocking case of fraud, an ICICI bank employee has been suspended after it was discovered that she had stolen ₹4.58 crore from fixed deposit (FD) accounts of customers to invest in stocks. The employee, Sakshi Gupta, had devised a clever system to gain access to the funds, which has left authorities stunned.
According to a report by NDTV, Sakshi Gupta, an ICICI bank employee, had used her position to illegally access the accounts of her customers and transfer the funds to her own account. But what makes this case even more brazen is that she used an elderly woman’s account as a “pool account” to stash the stolen funds.
Gupta’s modus operandi was to link her family members’ phone numbers to the customer accounts whose FD funds she stole. She would then use her system to get one-time passwords (OTPs) and transfer the funds to an elderly woman’s account, who was unsuspectingly used as a conduit to hide the stolen money.
The report states that Gupta had also illegally activated overdraft facilities on 40 accounts, which allowed her to access even more funds to invest in the stock market. It is unclear how much Gupta made from her illegal activities, but it is estimated that she stole a staggering ₹4.58 crore from the FD accounts.
The authorities were alerted to Gupta’s activities after a customer approached the bank complaining that their FD funds had been stolen. An investigation was launched, and it was discovered that Gupta was behind the fraud. She was subsequently suspended by the bank and a case has been registered against her.
This case highlights the importance of vigilance and due diligence in the banking sector. It also raises questions about the security measures in place to prevent such frauds from occurring. While the bank has taken swift action by suspending Gupta and registering a case against her, it is essential that they conduct a thorough review of their systems and processes to ensure that such frauds do not happen in the future.
Gupta’s actions also raise concerns about the vulnerability of elderly people who may be targeted by fraudsters. The elderly woman whose account was used as a “pool account” was unknowingly used as a conduit to hide the stolen funds. This highlights the need for greater awareness and education among the elderly about the risks of fraud and how to protect themselves.
In conclusion, the case of Sakshi Gupta, the ICICI bank employee who stole ₹4.58 crore from FD accounts, is a shocking reminder of the importance of trust and accountability in the banking sector. It is essential that banks take concrete steps to prevent such frauds from occurring and that customers are educated about the risks of fraud and how to protect themselves.
