Man held for ATM fraud; got idea during demonetisation rushhttps://indianexpress.com/article/cities/delhi/man-held-for-atm-fraud-got-idea-during-demonetisation-rush-5545558/

Man held for ATM fraud; got idea during demonetisation rush

According to police, the accused and an accomplice fraudulently withdrew money eight-ten times from ATMs in Faridabad and remote parts of Nuh and Palwal over the last two years.

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The main accused, police said, is currently a final-year BCom student at a Faridabad college. (Representational image)

For a Nuh resident, the power going off while he was withdrawing money from an ATM after demonetisation gave him an idea that would land him in jail over two years later.

According to police, the accused and an accomplice fraudulently withdrew money eight-ten times from ATMs in Faridabad and remote parts of Nuh and Palwal over the last two years.

“During questioning, he revealed that he got the idea for the crimes in 2016, when the power went off at an ATM while he was withdrawing cash. Although the machine released the cash and he collected it, the transaction did not get updated in bank records. He then roped in an accomplice and they began executing such crimes in Faridabad, Nuh and Palwal,” said Sube Singh, PRO of Faridabad police.

“The two men would open bank accounts and deposit a small sum in them. They would then take their card to the ATM and begin a transaction. As soon as the transaction would finish, they would turn off the power button. As a result, money would be released but the transaction would fail to update,” said Singh.

“The accused would also call up the bank and claim the money had been deducted from their account but the transaction was unsuccessful. The bank would then credit the amount to their account,” he said.

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The main accused, police said, is currently a final-year BCom student at a Faridabad college. He was arrested earlier this week. Police said efforts are on to nab his accomplice.