In a startling turn of events, over 41,000 UCO Bank customers found themselves credited with a whopping ₹820 crore between November 10 and November 13, prompting an immediate investigation by the Central Bureau of Investigation (CBI). This peculiar surge of funds into the accounts of UCO Bank customers was noted without any corresponding withdrawals from the originating accounts, raising red flags for the banking authorities.
The money arrived in the accounts of UCO Bank customers through an astonishing 8.53 lakh Immediate Payment Service (IMPS) transactions, originating from around 14,000 account holders of private banks within a mere three-day period. Shockingly, no corresponding debits were recorded from the accounts from which these hefty sums were transferred.
Amidst this baffling development, several account holders seized the opportunity and withdrew the unexplained credits from their accounts. Concerned about the irregularities, UCO Bank approached the CBI with a complaint against two support engineers working with the bank and other unidentified individuals, alleging “suspicious” IMPS transactions amounting to approximately ₹820 crore.
Responding swiftly, the CBI launched a widespread operation, conducting searches across 13 locations in various cities, including Kolkata and Mangalore, in connection with the case. Electronic evidence, comprising mobile phones, laptops, computer systems, email archives, and debit or credit cards, were seized during these searches, shedding light on the complex network behind these unusual transactions.
The intricate nature of this network involved a staggering 8,53,049 transactions, as per CBI reports. Despite originating banks registering these transactions as failed, they mysteriously appeared in the records of UCO Bank account holders.
The CBI spokesperson highlighted that several account holders allegedly exploited this unexpected windfall, illicitly withdrawing funds through diverse banking channels, ultimately benefitting from what appears to be a wrongful transaction.
As investigations unfold, authorities delve deeper into this perplexing scenario, aiming to uncover the intricacies of the transactions, the involvement of various parties, and the unprecedented influx of funds into UCO Bank accounts.
Sources By Agencies
