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2.06 crore deposited in Axis bank goes missing in Maharashtra

Around 2.06 crore deposited in Axis bank goes missing in Maharashtra. The police suspect an online banking fraud was carried out via loop holes in RTGS facilities.

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Published : Jun 10, 2020, 9:07 PM IST

Dhule: Around two crore rupees deposited by Vikas Sanskari bank in one of the branches of Axis bank in Maharashtra's Dhule district went missing, raising concerns over a suspected cybercrime targeting both the banks.

According to reports, Vikas bank had deposited around Rs 2,06,50,000 in Axis Bank. It has been revealed that this amount was hacked by unknown persons.

A case has been registered at the city police station in this regard. This is the first case of such a large amount of money being looted by hacking the banking system.

Vikas Sahakari Bank has provided RTGS and online portal services to Axis bank in the city. Only two people had access to these account numbers and other related details.

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It is to be noted that after wiping out the money from the system, the entire amount was divided across 27 different locations in the state. Primary tracing done by both the banks show that RTGS facilities availed by these banks was targeted during the heist.

Real-time gross settlement (RTGS) is a funds transfer system that allows for the instantaneous transfer of money and/or securities. Through RGTS, payments are settled without netting debits with credits across the books of a central bank.

The police officer who is investigating this case said, "A cybercrime case has been filed in this regard. In the crime, the website of Axis Bank was hacked to commit the crime as RTGS facilities were provided by Dhule Vikas Sahakari Bank. The amount has been transferred to 27 different accounts. All these accounts are based out of Maharashtra. We will take the help of the cyber cell to trace these."

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