The Hindu : Andhra Pradesh / Hyderabad News : Three held on cheating charge

Online edition of India's National Newspaper
Sunday, Jun 06, 2004

Andhra Pradesh

Andhra Pradesh - Hyderabad

Three held on cheating charge

By Our Staff Reporter

HYDERABAD, JUNE 5. The Hyderabad Detective Department officials on Saturday solved the case of fraudulent withdrawal of Rs. 40.44 lakhs from ICICI Bank with the arrest of its hi-tech branch phone-banking officer, G. Rajeswari (27), a realtor, E. Anand, and his alleged companion, Siripurapu Deepthi Choudhary.

Investigation revealed that Rajeshwari had access to the ICICI Bank software containing data of its Non-Resident Indian (NRI) accounts, the DD ACP, and T. Madhusudhan, said. Using the Internet banking passwords of four NRI accounts, the trio withdrew huge amounts.

A native of Kerala, Anand, happened to meet Rajeshwari while she was working with a private cellular company. After she joined the ICICI Bank, he hatched a plan to make fast buck by withdrawing money from accounts of others. The trio opened an account in Standard Chartered Bank, Somajiguda branch, on a fictitious name of Sunitha. Later, they got the money transferred from the NRI accounts into that account by using the passwords.

The scam came to light when the ICICI Bank officials noticed that huge amounts were withdrawn from the fictitious account on a single day. On a tip-off, they rounded up Anand and Deepthi, whose confession led to the arrest of Rajeswari.

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