In a shocking case of ATM fraud, two unidentified men are accused of stealing Rs 2.52 lakh from a State Bank of India (SBI) ATM in Thiruvananthapuram. The scam, which spanned from June 2022 to July 2023, involved a clever manipulation of the ATM’s cash delivery system.
How the Fraud Was Carried Out
The suspects reportedly used multiple stolen or lost ATM cards to withdraw cash from an SBI ATM on Padmavilasam Road. Their method was both simple and deceptive: after withdrawing money, they left one note in the machine’s cash delivery compartment. This trick caused the ATM to register the transaction as incomplete and display a Timeout Error, preventing deductions from account holders’ balances.
This ingenious technique ensured that the withdrawals went unnoticed for nearly a year. Since no customer accounts were affected directly, the fraud initially escaped detection, leading to suspicions about bank staff.
Detection of the Scam
The fraud came to light when discrepancies were noticed between the total cash deposited in the ATM and the amounts withdrawn. An internal bank committee began investigating but failed to find any initial leads. Suspicion fell on bank staff due to the lack of external evidence.
The breakthrough came when investigators reviewed CCTV footage. They identified two suspects who frequently visited the ATM and used multiple stolen cards. This evidence helped SBI officials file a formal complaint with the Fort police, along with CCTV photos of the suspects.
Legal Action and Charges
The case has been registered under IPC Sections 406 (criminal breach of trust) and 420 (cheating). Fort police are continuing their investigation to apprehend the culprits and recover the stolen money.
Conclusion
This incident highlights the growing sophistication of financial fraud and the importance of robust security measures in banking systems. Regular audits, advanced monitoring systems, and public awareness about safeguarding ATM cards can help prevent such scams in the future.
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