Chandigarh: Two Arrested from Bengal for Fraudulent Withdrawal of ₹82L

Chandigarh police have taken into custody two men from West Bengal who are alleged to have carried out a ₹82 lakh fraudulent withdrawal from the bank account of Alpha Forex Pvt Ltd. The incident came to light after an employee of the company filed a complaint on April 7, stating that the mobile number registered for the firm’s bank account suddenly lost network connectivity. Investigations later revealed that the number had been swapped, allowing the accused to move the funds illicitly.

The accused were produced before a local court and subsequently booked under relevant sections of the Indian Penal Code dealing with cheating and criminal breach of trust. Their arrest underscores a growing trend of cyber-enabled financial scams that exploit weak verification processes in digital banking. While the exact method by which the mobile number was swapped has not been disclosed, police say the case highlights the need for stronger authentication measures for high-value transactions.

Alpha Forex Pvt Ltd, headquartered in Sector 17, is a private firm that provides forex trading services. The employee who reported the fraud noticed the irregularity when attempts to contact the registered mobile number failed. After a brief period of network outage, the employee discovered that the SIM card linked to the account had been replaced without authorization. The subsequent withdrawal of ₹82 lakh was traced to a series of transfers that were executed over a short span, prompting the company to alert law enforcement immediately.

Chandigarh police launched a swift investigation. Officers examined call detail records, transaction histories and the movement of the SIM card to identify the perpetrators. The probe led them to two individuals residing in West Bengal, who were taken into custody after a coordinated operation. Both men have been linked to previous incidents involving unauthorized access to banking credentials.

Authorities have not released further details about the broader network behind the scheme, nor have they indicated whether additional accomplices may be involved. The matter will be examined by the courts, and the police have urged other financial institutions to review their security protocols to prevent similar frauds. The incident serves as a reminder that even well-established firms can become vulnerable when digital verification steps are compromised.

Source: Hindustan Times