In a shocking case from Bengaluru, eight employees of Axis Bank’s Nagarbhavi branch, including the manager and three sales executives, were arrested for defrauding customers of ₹97 crore. The accused exploited customer trust by using their personal information, offering fake schemes, and making unauthorized transactions.
Inside the Scam: How Customers Were Trapped
The scam came to light after a complaint by Shanti, a resident of Bengaluru. She told the police that she had received an email from the bank, claiming her credit card was being upgraded with an exclusive offer. The offer seemed attractive, promising vouchers in exchange for a high service fee.
To gain her trust, one of the bank employees sent her a visiting card and ID, assuring her that the communication was official. Believing the credentials to be genuine, Shanti shared her card details. A few days later, she received a message about a transaction of ₹1 lakh—five hours after it had taken place. Realizing the fraud, she immediately contacted the bank and filed a complaint.
Investigation Reveals Organized Internal Fraud
Upon investigation, it was confirmed that the fraud was orchestrated internally by the bank employees. The police found that the accused targeted multiple customers with similar schemes, promising high returns on investments in the stock market. They also misused customer data to make unauthorized withdrawals and card transactions.
The scam highlights the misuse of trust between bank staff and customers, as the employees had direct access to sensitive customer information. Bengaluru Police arrested eight employees, including the manager, and launched further investigations to uncover the full extent of the fraud.
Protect Yourself from Such Scams
In today’s digital age, customers rarely visit bank branches, relying heavily on online banking services. However, this case serves as a reminder to be cautious when sharing personal information, even if it appears to come from official sources.
Experts advise verifying offers directly through the bank’s official website or helpline before sharing any sensitive details. Timely reporting of suspicious activity, like in Shanti’s case, is essential to prevent further damage.
This incident not only raises concerns about data security within banks but also calls for stricter monitoring of employees to prevent internal fraud.
