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Crime
Small Finance Bank manager arrested in Rs 250 crore cyber fraud in Kanpur
✍️ TOI City
🗓 22 Aug 2026, 02:39 PM
👁 5
Police in Kanpur have detained a manager of a Small Finance Bank for allegedly facilitating cyber‑fraud transactions that moved millions of rupees through bogus company accounts.
Kanpur police on Tuesday arrested a manager of a Small Finance Bank on suspicion of aiding large‑scale cyber fraud. The official is accused of opening and managing bank accounts for fictitious firms that were later used by fraudsters to channel illicit money.
Investigators say the fabricated accounts processed millions of rupees derived from various cyber‑crimes, contributing to an overall loss estimated at around Rs 250 crore. The manager’s role was reportedly limited to facilitating account creation and authorising transactions on behalf of the bogus entities.
The police have broadened the probe to include other bank employees who may have been complicit, and they are also tracking the alleged mastermind believed to be operating from abroad. So far, ten individuals have been taken into custody as part of the ongoing investigation.
Authorities emphasized that the case underscores the vulnerability of financial institutions to sophisticated cyber‑criminal networks and assured the public that stringent action will continue against all involved parties.
Investigators say the fabricated accounts processed millions of rupees derived from various cyber‑crimes, contributing to an overall loss estimated at around Rs 250 crore. The manager’s role was reportedly limited to facilitating account creation and authorising transactions on behalf of the bogus entities.
The police have broadened the probe to include other bank employees who may have been complicit, and they are also tracking the alleged mastermind believed to be operating from abroad. So far, ten individuals have been taken into custody as part of the ongoing investigation.
Authorities emphasized that the case underscores the vulnerability of financial institutions to sophisticated cyber‑criminal networks and assured the public that stringent action will continue against all involved parties.