Hyderabad: Gang held for fradulent bank transactions
Hyderabad: The Charminar police arrested five persons involved in several cases of fraudulent transactions at ATM centers in Hussaini Alam here on Tuesday.
The arrested persons were identified as Mohd Irshad Ahmed, Mohd Asim Khan, Rizwan Khan, Mustaq Khan and Asif Khan, all natives of Palwal in Haryana. The absconding persons were Mubeen Ahmed, Abid Khan and Jabid Khan, all from Haryana as well.
According to the police, the suspects opened accounts in various banks and took ATM cards. They visited various ATM centers to withdraw cash using their debit cards.
“They would swipe the debit card and enter the pin in the ATM and as the machine starts to dispense cash, they would not collect the cash and hold it there till the transaction is timed out. When the machine tries to pull the currency notes back, they continue to hold the notes. Thus, the transaction shows technical error or incomplete transaction,” said Hyderabad Police Commissioner, Anjani Kumar.
While one person does the transaction, others observe the ATM center surroundings and also conceal the surveillance cameras.
“They further lodge a complaint through toll free numbers of the bank, saying they did not receive the amount from the ATM machine. As a result, they receive refund in four working days from the bank,” Anjani Kumar said.
Investigation revealed the gang targetted ATM centers that were not manned.
On verification of the bank accounts of the suspects, it was found that they have withdrawn approximately Rs.5 lakh cash this year. Other banks accounts were yet to be verified.
They have been indulging in these offences since last two years and the total amount fraudulently withdrawn by them was being investigated with the assistance of bank officials, police said.
Recently, the gang was involved in six such fraudulent transactions at an ATM center in Hussaini Alam. Following a complaint, a case was booked and with the help of technical evidence, the suspects were identified and nabbed.
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