Investigations conducted by UP Special Task Force (STF) has revealed the possibility that two private banks may have been involved in the massive Rs 3,700 crore online fraud recently unearthed in Noida. It is being alleged that even when suspicious transactions worth several crores were taking place, these banks did not report it to the authorities. What is even more worrying is that these banks allegedly passed on information about police activity to Ablaze Info Solutions Pvt. Ltd, which prompted the fraudsters to transfer their illegal funds to other bank accounts. When STF got to know about this, they immediately raided the premises of Ablaze Info Solutions Pvt. Ltd and arrested 3 people including the company’s director.
STF has issued a statement saying that it has frozen the company’s bank accounts, including one in Kotak Mahindra Bank Rajnagar (Ghaziabad), 2 bank accounts in Yes Bank, 2 in Axis Bank and 3 in Canara Bank. It has been revealed that the STF was secretly tracking these accounts, as part of its investigations. It is suspected that officials of two of these banks had passed information about STF’s investigation to the fraudsters. Some of these banks were even unwilling to provide transaction details of these accounts to the STF. Further investigations are on and the culprits will be booked if there’s evidence of banks’ involvement in the scam.