Gujarat CID Arrests Three More in Rs 7.34 Crore Bank Hack Case
Three more individuals have been arrested by the Cyber Centre of Excellence of the Gujarat CID Crime in connection with the hacking of The Bhavnagar District Co-operative Bank Limited, taking the total number of arrests in the case to ten.
According to investigators, the cybercrime syndicate exploited a vulnerability in the bank's Core Banking System (CBS) software to steal Rs 7.34 crore. The breach involved gaining access to four dormant accounts, altering linked mobile numbers, and manipulating the system to show fake balances between Rs 1 crore and Rs 2 crore.
The group created unauthorised virtual credits worth Rs 7,34,91,682 and transferred the funds into 135 different bank accounts to obscure the trail. Police allege that these accounts were obtained from individuals who allowed their use in exchange for commissions.
The three latest arrestees are Anil Dharmeshbhai Agravat from Surat, who allegedly rented out his bank account; Bhumil Nayankumar Patel; and Vikas Pokharmal Choudhary, accused of setting up internet banking access and managing credentials for the transfers.
CID officials suspect that the same software flaw may have affected 14 to 15 other banks across the country, and this aspect is under investigation. The agency has advised the public not to rent out bank accounts, ATM cards, or cheque books, as they are often used to launder money from cyber fraud.
