Noida Cyber Crime unit scored a significant victory against digital fraudsters, detaining two masterminds behind a Rs 29.97 lakh heist from frozen Paytm Payment Bank accounts. The accused manipulated stolen bank data to bypass freezes and release illicit funds.
Acting on precise tips dated January 20-21, a joint team raided locations in Jaipur and Noida, securing the arrests. Deep dives into their activities exposed a scheme where sensitive data theft enabled the unauthorized defreezing of lien-marked accounts linked to prior cyber complaints.
This investigation stems from an August 30, 2024, FIR lodged by a victim, accusing rogue Paytm staff of illegally unlocking accounts sans judicial or police orders. The fraud network had already seen two prior arrests, but these latest captures strike at its core.
Identified as Rajesh Kumar Meena of Sawai Madhopur and Sachin, originally from Sitapur but based in Noida’s Gaur City, the duo’s interrogation is yielding crucial leads. ‘We’re peeling back layers of this syndicate,’ police revealed.
In a public advisory, Noida Police called for immediate reporting of dubious transactions. This case underscores the perils of insider threats in fintech, prompting calls for stricter data security protocols. Ongoing raids aim to dismantle the entire operation, protecting millions of users.
