Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 were reported by the ICICI Bank involving Rs 5,033.81 crore.
A skimmer is a device designed to look like and replace the card insertion slot at an ATM. The skimmers, which cannot be usually spotted by an untrained eye, have circuitry that read and store the data on the magnetic strip of an ATM card even as the ATM processes the same data.
The searches were carried out at multiple locations in a number of cities, including the Delhi-NCR, Chandigarh and Kolkata at office and residential premises of the company, its directors and promoters and their associates.
An officer from the cyber police station said, “While we don’t have specific data... we have received several complaints where a similar modus operandi has been used over the past few months. Last month, a student from Andheri lost Rs 10,000 in a similar way after looking for the customer service number of a bank online.”
“The manager found that the copy of the passport attached to the application seemed different than the one that was submitted while the account was opened. By then, however, the request had been processed and the contact details changed,” the officer said.
Cyberabad Police Commissioner V C Sajjanar said that they acted on a complaint that some unknown persons posing as SBI Credit Card division staff called up customers, collected card details and carried out monetary transactions through online portals.
The highest ever amount of Rs 28,459 crore is said to have been involved in these cases of fraud reported from April, 2017, to March 1, 2018, the central bank said. In 2016-17, banks had reported 5,076 cases of fraud involving Rs 23,933 crore.