1 Held in Transaction Reversal Fraud Case

Pune: Officials of the Cyber police station of the city police nabbed the man allegedly involved in cheating The Vishweshwar Sahakari Bank to the tune of Rs 1.4 lakh by exploiting lacunae in the transaction system in the ATMs of the bank. 

According to Deputy Commissioner of Police Sambhaji Kadam, the bank officials complained of fraudulent transactions at ATM centres in Chinchwad, Pimpale Saudagar and Baner between September 16 and 18. The police found involvement of accused Kaushalprasad Dwivedi (23) who hails from Uttar Pradesh. 

Police Inspector Rajkumar Waghchavre said based on technical details, the accused was tracked to Andheri, Mumbai and nabbed. The accused was allegedly able to withdraw money from ATMs and reverse them, causing loss to the bank. 

Police Inspector Jayram Paigude said the accused used ATM cards of State Bank of India and 14 ATM cards were seized from him. The investigation team included Police Sub Inspector Kiran Aute, policemen Navnath Jadhav, Shirish Gavde, Ashwin Kumkar and Nitin Chandane.