Alleged Fraudster Poses as HR Head, Dupes HSBC Bank of ₹2 Crore in Elaborate Scam A cunning alleged fraudster, masquerading as the HR head of a multi-national company, managed to swindle HSBC Bank out of more than ₹2 crore through a complex scheme involving the opening of 38 salary accounts, acquisition of 28 credit cards, and the approval of two substantial loans.
The accused’s modus operandi included presenting fictitious employees as account holders, and each month, substantial amounts were credited to these accounts as salaries. However, what made this scam particularly audacious was the absence of any repayments for the numerous credit cards and loans associated with these fabricated accounts.
Upon closer inspection, the bank’s investigation unveiled a web of deception where the money deposited into these accounts was swiftly withdrawn via debit cards. Furthermore, it was revealed that both the addresses and photographs of the account holders were entirely fabricated, adding another layer of sophistication to this intricate financial scam.
This case serves as a stark reminder of the lengths to which fraudsters are willing to go to execute their illicit activities. It also highlights the importance of stringent security measures and thorough verification processes for financial institutions to safeguard against such fraudulent schemes, as well as the need for continuous vigilance to protect the interests of both the institutions and their customers. Authorities are actively pursuing the accused in this case, aiming to bring them to justice and recover the ill-gotten funds.
