UCO Bank complained to the CBI it found thousands of suspicious transactions
The CBI conducted searches at 67 locations in seven cities in Rajasthan and Maharashtra in connection with a case linked to suspicious IMPS transactions worth Rs 820 crore across multiple UCO Bank accounts.
UCO Bank had complained that between November 10 and 13 last year, IMPS inward transactions from 14,600 accounts of seven private banks were wrongly posted in the accounts of over 41,000 UCO Bank accounts.
The Central Bureau of Investigation (CBI) filed a case on November 21.
This resulted in Rs 820 crore being credited to UCO Bank accounts without actual debiting from the originating banks. Numerous account holders have exploited this situation, making wrongful gains by withdrawing funds through various banking channels, the CBI said in a statement today.
In December 2023, searches were conducted at 13 locations of individuals and UCO Bank officials in Kolkata and Mangaluru.
The latest searches were carried out in Rajasthan (Jodhpur, Jaipur, Jalore, Nagaur, Barmer, and Phalodi) and Pune.
During these operations, approximately 130 incriminating documents related to UCO Bank and IDFC, as well as 43 digital devices including 40 mobile phones, two hard disks, and an internet dongle were seized for forensic analysis, the CBI said.
Thirty suspects were also questioned.