On Wednesday, the Central Bureau of Investigation (CBI) carried out search operations at 67 locations in seven cities in Rajasthan and Maharashtra in relation to IMPS transactions that appeared suspicious and totaled almost Rs 820 crore across several UCO Bank accounts.
About 130 damning documents pertaining to UCO Bank and IDFC were found during the search operations. In addition, 43 digital devices - 40 cell phones, two hard drives, and one internet dongle—were taken for forensic examination. Thirty suspects were also discovered and immediately examined.
Over 8,53,049 IMPS (Immediate Payment System) transactions that occurred between November 10 and November 13 of last year are connected to the case.
"IMPS inward transactions initiated from around 14,600 account holders of seven private banks were wrongfully posted in the accounts of over 41,000 UCO Bank account holders. This resulted in Rs. 820 crore being credited to UCO Bank accounts without actual debiting from the originating banks,” the CBI Spokesperson said.
According to agency authorities, those who took the money and withdrew it instead of giving it back to the bank were the main target of the searches conducted in Rajasthan and Maharashtra on Wednesday.
The second search round was this one. "Private individuals and UCO Bank officials conducted searches at 13 locations in Kolkata and Mangalore earlier in December 2023," the spokesperson stated.
