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Mobile banking fraudster held; police unearth loopholes

Correspondent, KOHIMA, NOV 25 (NPN)
Published on 26 Nov. 2011 12:40 AM IST
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In a breakthrough related to mobile banking fraud case, Kohima police arrested one person who allegedly managed to squeeze out few lakhs of rupees through fraudulent means (via mobile banking service).

Police, who cracked the case last week, arrested Mhao Yanthan (27) a college drop out, resident of Bayavu following a complaint from a prominent Kohima businessman.
The victim said an amount of Rs 1.5 lakh was withdrawn from his SBI account by some person(s) without his knowledge.

Police investigating the case led by SDPO Kohima, Relo Aye was learnt to have unearthed serious anomalies in the prevailing system of mobile banking services.

The police team was expected to soon write to the SBI head office on their findings and suggest remedy for stringent security measures. According to police source, SBI had also conducted its own inquiry based on the complaint and provided vital clues to police leading to the arrest of Yanthan from his residence after proper verification of his identity.

During investigation, Yanthan admitted to the crime and also revealed that the complainant was not the only victim but there were more people whose bank accounts were hacked and money transferred.

Police said some of the victims were ignorant about the development until Yanthan’s revelation.
Police source said the accused had undergone a crash-course in computer science and was unemployed. He came to know about mobile banking last year and opened an account at the SBI. After going through the brochure about mobile banking and detecting loopholes, he started attempting to open bogus bank accounts in different names but failed, said the sources.

However, Yanthan visited the bank and collected the name and account number of the victim from those incorrectly filled but signed bank deposits forms thrown away by the victim. On perfecting the duplication of signature, Yanthan registered for mobile banking service against the account holder’s name and bank account at one of the SBI branch in Dimapur and started transferring the amount from the account.

The accused also confessed to have used one of his girl friends’ Shillong SBI bank account to transfer money from other accounts and withdraw the same using her ATM card.

Through the same modus operandi, he managed to transfer around Rs.50,000/- (the maximum amount transferable through mobile banking in a day) each on three different occasions.
After thorough interrogation, police forwarded the accused to judicial custody.

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