A deputy manager at ICICI Bank has been arrested for allegedly facilitating cybercriminals by providing bank accounts to launder defrauded money. Akashdeep Singh, hailing from Mandi Gobindgarh in Punjab’s Fatehgarh Sahib, was taken into custody during an investigation related to a complaint involving a Rs25.5 lakh fraud linked to a fake investment scheme.
This arrest marks the 18th instance since February of bank employees being apprehended for allegedly aiding cybercriminals in routing illicit funds. Singh has been with ICICI Bank since 2022.
The investigation began on February 29, when a victim reported being cheated through an app promising high returns on stock market investments. Police traced the defrauded money to an IndusInd Bank account owned by Devendra Singh, a resident of Patiala. After conducting raids across Sangrur, Patiala, and Fatehgarh Sahib, police arrested Devendra in May. His information led to the arrest of Harpreet Singh, a sales manager at the same ICICI Bank branch, on July 9.
Both Akashdeep and Harpreet are accused of opening a bank account in Devendra’s name and supplying it to the cyber fraudsters. Akashdeep is expected to be presented in court and taken into police custody for further questioning.
Authorities are probing the extent of the collaboration between the bank employees and the cybercriminals, as well as any financial gains they may have received for their involvement. Since February 11, Gurgaon police have arrested 18 staff members from various banks, including SBI, Kotak Mahindra, Yes Bank, and others, for similar offenses.
