Greater Noida PNB fraud ran for 3 years, staffer broke FDs; CBI files case

The bank staff, Deepanshi, misused the login credentials of six colleagues, tampered with fixed deposits and routed customers' money through multiple accounts in collusion with her accomplice, Ashutosh Pathak, and others.

In Short

• CBI registers FIR over Rs 10.24 crore fraud at PNB Greater Noida branch
• Woman employee Deepanshi misused officials' credentials for unauthorised transfers
• Fraud continued for nearly three years, routed through multiple accounts

The CBI has registered an FIR over an alleged Rs 10.24 crore fraud at a Punjab National Bank (PNB) branch in Greater Noida, where a woman bank employee used the user IDs and passwords of other officials to transfer money from customers' accounts, including Fixed Deposits, without their authorisation.

Earlier reports projected the fraud at nearly Rs 35 crore, but the bank has now estimated it at Rs 10.24 crore.

According to officials, the fraud at the bank's Sector Pi branch is suspected to have continued for nearly three years, with the money routed through multiple accounts before being withdrawn or transferred further. The CBI's Anti-Corruption Branch in Ghaziabad registered the case on Thursady and has begun an investigation.

According to the bank's complaint, its preliminary enquiry found the involvement of bank employee Deepanshi and several other individuals, including Ashutosh Pathak. The bank alleged that Deepanshi misused the login credentials of six other officials to carry out unauthorised transactions from customers' accounts.

The case came to light after a customer, identified as Sangeeta, visited the Sector Pi branch with her husband and daughter to get her passbook updated. During the visit, she noticed three transactions dated September 16, which she said she had not authorised.

She subsequently raised the issue with bank officials and sought to meet the branch manager. However, the manager was not present at the time. Deepanshi, who was working at the branch, spoke to the customer and attempted to justify the transactions.

When the matter was brought to the branch manager's attention, the manager questioned Deepanshi about the transactions. Deepanshi reportedly claimed that Sangeeta had spoken to her husband over the phone and agreed to invest in property, with the money to be transferred to Ashutosh Pathak's account.

However, when the bank searched for the documents and vouchers relating to the three transactions, it could not find them in its records. This raised suspicions about the transactions and prompted a detailed internal enquiry.

HOW THE FRAUD WAS CARRIED OUT

According to the bank's complaint to the CBI, Deepanshi admitted during questioning that she had transferred money from customers' accounts without their authorisation at the behest of Ashutosh Pathak.

She allegedly used the user IDs and passwords of other bank officials to execute the transactions. The vouchers associated with these transfers were also destroyed, as there were neither customer authorisations nor approvals from the officials concerned.

The bank subsequently examined Ashutosh Pathak's account and found that several transfers from customers' accounts had been routed directly to it. The complaint also stated that the account had been opened by Deepanshi.

In other instances, the money was transferred through accounts belonging to Pradeep Kumar, Membangti Devi, Priyanka Kumari, Shanti Devi, Shalini and Saroj Devi before reaching Pathak's account. Some of the money was also withdrawn.

The bank's preliminary investigation found that the credentials of six officials at the branch had been misused to carry out unauthorised transactions through the Core Banking System (CBS).

The officials whose user IDs were used include Senior Branch Manager Nisha Tirkey, Senior Customer Service Associate Sandeep Prakash Sharma, Customer Service Associates Meenakshi and Satish Kumar, Relationship Manager Shailendra Kumar and bank official Lovely Jain.

An initial examination of system logs and user activity records indicated that multiple unauthorised transactions had been carried out through the user IDs assigned to these officials.

However, whether their credentials were used with or without their knowledge or consent remains to be established through the investigation.

The bank's complaint also alleged that mobile transaction alerts linked to some customers' accounts were disabled or altered. This prevented customers from receiving immediate notifications when money was transferred from their accounts, delaying the discovery of the suspected fraud.

FIXED DEPOSITS TAMPERED WITH

The preliminary enquiry also revealed suspected irregularities involving customers' fixed deposits (FDs).

According to the complaint, Ashutosh Pathak and other individuals were added as joint account holders to several fixed deposits. Subsequently, the account details into which the FD proceeds were to be credited were changed, and the deposits were prematurely closed.

The money received after the premature closure of these deposits was transferred to accounts linked to the suspects.

The bank submitted a list detailing 49 fixed deposits and the amounts transferred after their closure as part of its complaint. The list carries a cumulative figure of Rs 7,023.77 lakh.

However, the bank's complaint separately puts the alleged unauthorised withdrawals at approximately Rs 10.24 crore. The relationship between the two figures and the complete accounting of the transactions remain subjects of investigation.

BANK ESTIMATES FRAUD AT RS 10.24 CRORE

According to the PNB complaint, its preliminary investigation has so far identified unauthorised transactions amounting to approximately Rs 10.24 crore from multiple customers' accounts.

The bank alleged that Deepanshi, in collusion with Ashutosh Pathak, Pradeep Kumar, Membangti Devi, Priyanka Kumari, Shanti Devi, Shalini, Saroj Devi and other unidentified individuals, carried out the transactions.

The suspected irregularities are believed to have continued for nearly three years. However, the bank has said that the reconciliation of all transactions in the affected accounts is still underway.

The number of affected customers and beneficiaries could increase as the investigation progresses. The total amount involved in the fraud could also change following a comprehensive examination of the accounts and transaction records.

DEEPANSHI INVESTED MONEY WITH PATHAK

According to the bank's complaint, Deepanshi told the bank officials that Ashok Pathak was known to her before the fraud came to light. He had allegedly cheated her father of around Rs 15 lakh to Rs 20 lakh in a financial transaction.

Pathak subsequently promised to help recover the money and persuaded Deepanshi to invest additional funds. Trusting his assurance, she reportedly took a loan and invested another Rs 4 lakh to Rs 5 lakh.

The bank's complaint further alleged that Deepanshi later became involved in suspicious transactions involving customers' accounts and used the login credentials of other bank employees to transfer money.

The precise role of each person, whether other employees were aware of the misuse of their credentials, and the motive behind the transactions will be established through the examination of documentary and digital evidence.

PNB Chief Manager Ajay Kumar Pandey submitted a complaint to the CBI's Anti-Corruption Branch in Ghaziabad on October 23. Following its preliminary enquiry, the bank also obtained approval from the competent authority under Section 17A of the Prevention of Corruption Act.

The CBI subsequently registered an FIR, naming bank employee Deepanshi, Ashutosh Pathak and other private individuals, along with unidentified public servants, as accused.

The bank has also initiated an internal process to determine the accountability of the employees concerned. It has said that all relevant documents, electronic records and system logs will be made available to the CBI whenever required.

- Ends