In a significant cybercrime crackdown, Banswara Police busted a Rs12.8 crore cyber fraud racket and arrested two former and current private bank employees who played crucial roles in facilitating the scam. The racket, which spanned 11 states, exploited dormant bank accounts and forged documents to route stolen money.
The arrested individuals have been identified as:
Meghnesh Jain (28) – Deputy Manager at a private bank in Banswara
Divyanshu Singh (30) – Former bank employee
The arrests were made after Sandesh Shah and his brother Tanish Shah, residents of Dhaduka village, filed a complaint regarding suspicious banking activity. Investigations revealed that the same set of bank accounts had been used in 44 separate cyber fraud cases.
According to police, Jain and Singh reactivated inactive bank accounts using forged documents, enabling the withdrawal of illicit funds via self-cheques and ATM cards. These accounts were then used as conduits to launder money acquired through various online scams, including:
Fake digital arrests
Bogus investment offers
Forged financial instruments
The victims came from across India — Karnataka, Kerala, Goa, Tamil Nadu, Delhi, West Bengal, Maharashtra, Bihar, Telangana, Haryana, and Gujarat.
The key mastermind behind the operation, Aman Kalal (28) from Partapur in Garhi, Banswara, remains absconding. Police efforts are ongoing to locate and apprehend him.
This case highlights a growing trend of insider-assisted cybercrime in India’s financial sector, with dormant account misuse becoming a major threat vector.
