Hyderabad cops nab gang for cheating banks, ATM fraud
The gang used debit cards of known persons to withdraw money from ATMs
Hyderabad: A gang involved in cheating banks by raising false complaints of failed transactions at ATMs have been arrested. With the money earned in this manner, the main accused Said-ur-Rahman got his mother's treatment for cancer and even invested in crypto.
Rahman also purchased two open Plots in Thane District, Maharashtra and purchased gold bangles for his family in September.
Police said the gang used debit cards of known persons to withdraw money from ATMs. After collecting the amount, they raise a complaint with the bank concerned informing them that they did not receive the cash, following which the bank refunded the amount.
Police said the accused would cover the cash dispenser slot for a few seconds while cash was dispensed, collected cash and then raised a complaint saying they did not receive cash due to technical error and received refund from banks.
In this manner, they duped banks after withdrawing money in different parts of the city and also in different parts of Mumbai. In Hyderabad, they targeted only SBI ATMs which are unguarded, located in isolated locations, while in Mumbai, they also targeted Axis bank ATMs, said Vikram Singh Mann, Additional Commissioner (Law & Order), Hyderabad city. Cash, gold jewellery and other incriminating material were recovered from their possession, he added.