Hyderabad: Gang involved in duping banks arrested

The police recovered Rs. 1.18 lakh cash, four gold bangles, 24 ATM cards and five mobile phones from them.

Hyderabad: Three persons who were allegedly involved in bank fraud cases were arrested by the Hyderabad Commissioner’s Task Force (North) team on Wednesday. The police recovered Rs. 1.18 lakh cash, four gold bangles, 24 ATM cards and five mobile phones from them.

The gang went to ATM centres in the city and using ATM cards of persons known to them withdrew the cash. Afterwards the gang lodged complaints with the bank authorities saying they did not receive cash from the cash dispensing machine.

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“The gang would visit the ATM centre and while collecting the cash hold the currency notes tightly without taking from the machine. The machine would then take it as technical error and when the gang member complains to the bank, authorities would credit back the amount to the account holder,” said DCP Task Force, P Radha Kishan Rao.

By adopting the modus operandi, the gang earned between Rs. 15 lakh to Rs. 20 lakh and purchased property, jewellery and other articles.