Bank Scandal: Yes Bank Employees Caught in Cyber Crime Ring

Four employees of Yes Bank and their associate were arrested for allegedly aiding international cyber criminals by opening bank accounts without KYC and transferring the proceeds of crime. These accounts extorted over Rs 1.15 crore from a senior citizen by posing as police officers.

In a dramatic twist to an international cyber crime investigation, Gujarat police have apprehended four employees of Yes Bank. These individuals are accused of facilitating international cyber criminals by opening bank accounts without KYC compliance, a move that allowed the illicit transfer of crime proceeds.

The case unraveled when a senior citizen lodged a complaint, claiming he was extorted out of Rs 1.15 crore after cyber fraudsters, disguised as Delhi police officers, placed him under a 'digital arrest'. Fearful of arrest, the victim transferred the funds, which were then moved through several strategically opened bank accounts.

The cyber crime branch's probe revealed the employed accounts across Yes Bank branches in Gujarat and Rajasthan. The employees, promised commissions for their role, allegedly helped further the crime. Authorities have so far recovered Rs 19 lakh in cash and frozen sums totaling Rs 63.60 lakh.

(With inputs from agencies.)