With 75 Fake Credit Cards, Man Cheats Banks of Rs 94 Crore

Representational image of a crime scene. (Photo: iStock)

In Pune, a software company employee and his accomplice was arrested by cyber detectives for preparing 75 fake credit cards for two nationalised banks and cheating them of Rs 94 crores, as reported by The Times of India.

The Yerawada-based software company had been entrusted with the task by one of the banks. The bank was providing credit card processing services to the second bank, which is how the company got to making cards for the second bank as well.

Kamal Kishor alias Hasan Hanif Shaikh, a resident of Mohammedwadi in Hadapsar was responsible for verification of documents for the cards. He manipulated customer data and prepared the fake cards, which he swiped at four different shops to withdraw money.

Senior inspector Sunil Pawar headed the team, which arrested Kishor and his accomplice Yadavendra Pratap Shivkumar. It is yet to be ascertained how the two got in touch with one another.

Kishor was working with the software company and verified the details of the customers. He would obtain the bank statements of the customers for the previous three months, identity cards, residential proof among other documents. He would submit the credit card forms with the name of one person and the details of another.

Kishor was responsible for verification himself, which is why he never faced any problem.

The banks trusted Kishor and issued credit cards with limits between Rs 1.75 lakh to Rs 4 lakh.

The duo would never go to ATM centres to withdraw cash for fear of being identified through the CCTV cameras.

Sunil Pawar

Eventually, as customers complained to the banks about the calls they received for activity on their cards, demanding their payments.

A complaint was launched and during investigation, police discovered that the documents had been manipulated at the time of verification itself.

(Source: The Times of India)