54 Bank Accounts Opened In Pune Over Two Years In Fraud Loan App Case

Cyber Fraud
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Pune, 10th October 2022: According to charges brought by the Pune police under the Maharashtra Control of Organized Crime Act (MCOCA), two of the nine defendants in the loan application case opened 54 bank accounts over two years using the identification of primarily rural Solapur employees, according to police.


According to reports, Deputy Commissioner of Police (Cyber), Bhagyashri Navatake, said, “To open current accounts in banks using their identification and other documents, the pair approached workers performing menial tasks in rural and urban Solapur, offering them between Rs 1,000 and Rs 2,000 per account. We know of 54 similar bank accounts that scammers have used to purchase bitcoins.”


Meenal Patil, a senior police inspector for cybercrime, said, “To open current accounts in banks, you must have an office or other type of company setup. Savings accounts have limitations; these accounts facilitate large-dollar transactions. To obtain a Shop Act licence and open current accounts, the accused would rent out tiny stores for a short period and photograph the employees there.”


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According to Patil, the scammers had their bank account information on them, including the customer ID, login ID, PIN, internet banking PIN, and other details. “The loans’ call centre was situated in Bengaluru. The Bengaluru team, who would contact clients for loan applications, received information on these bank accounts. The employees of the contact centre would frighten anyone who downloaded the app or took out modest loans, making them deposit money into these accounts,” she stated. The scammers used the money to purchase cryptocurrencies before transferring them to e-wallets in China, the UAE, and other nations.


Dheeraj Punekar, Swapnil Nagtilak, Pramod Ranasingh of Solapur, Shrikrishna Gaikwad of Hadapsar, Samuel Kumar, Sayyed Pasha, Mubarak Baig of Bengaluru, Mujib Ibrahim and Mohammed Mohidu of Kozhikode, and Sayyed Pasha were all charged under the MCOCA. “Punekar and Nagtilak registered these accounts and provided the Bengaluru team with their information, which compelled victims to make money transfers. Ibrahim and Mohidu purchased cryptocurrencies using accounts,” Patil added.


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