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After one crore Manipal email fund transfer fraud, CID cautions banks

The CID police have also advised banks to make telephone enquiries with bank account holders before approving transactions.

Written by Santosh Kumar R B | Bangalore |
December 17, 2014 3:03:10 pm

The cyber crime unit of the Criminal Investigation Department (CID) of the Karnataka police has requested all banks to pass standing orders to account holders against transferring money on the basis of e-mail requests to prevent fraud by hackers. The CID police have also advised banks to make telephone enquiries with bank account holders before approving transactions.

The instructions from the CID comes in the wake of a Rs 1.13 crore embezzlement case in the coastal Karnataka region of Manipal where funds were diverted from the Syndicate Bank account of a businessman based in Canada on the basis of instructions from a hacked email account.  According to a police complaint filed by an Assistant General Manager of the Syndicate Bank, an amount of Rs 1.13 crore was siphoned out of the account of Louis D’souza, a resident of Canada and a native of Manipal.

Police in Udupi said that unidentified persons hacked the email of D’souza and sent requests for transfer of money to unknown accounts. As per the requisition, the bank transferred Rs1.13 crore in two transactions. In the first installment money was credited to an account number at the Dubai National Bank, Dubai and in the second the funds were transferred to an account at the Islamic Bank, Abu Dhabi. The bank grew suspicious when it received another request for transferring money to an account at the Bank of China in Hong Kong.

Bank officials who contacted D’souza learned that the emails were not sent by him. The bank officials filed the same in the complaint with Manipal police and the case has been transferred to the CID for investigations.

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