Trust in banks was shattered as Sakshi Gupta, a relationship manager at ICICI Bank, was arrested for allegedly duping customers of more than Rs4.58 crore by misusing their fixed deposit accounts.
Between 2020 and 2023, Gupta illegally withdrew funds from 110 fixed deposit accounts belonging to 41 customers using the bank’s ‘User FD’ link. She promised high returns by investing the money in the stock market, but after incurring heavy losses, she failed to return the money to the customers’ accounts.
The scam remained undetected for two years, as Gupta went to great lengths to hide her tracks. She changed customers’ registered mobile numbers to numbers linked to her family members, preventing victims from receiving transaction alerts. Additionally, she devised a system to intercept one-time passwords (OTPs) to authorize fraudulent withdrawals without alerting account holders.
Gupta was arrested late last night at her sister’s wedding and has since been sent to judicial custody.
The fraud came to light when a suspicious customer visited the bank to inquire about his fixed deposit, prompting the bank to file a police complaint on February 18, 2025.
Investigating officer Ibrahim Khan stated, “She linked the phone numbers of her family members to these accounts and withdrew over Rs4 crore. She used a system to intercept OTPs, ensuring victims remained unaware of the fraudulent transactions.”
The ICICI Bank has not yet issued an official statement but insiders suggest that the bank plans to compensate the affected customers.
Meanwhile, customers remain anxious about their savings. Mahavir Prasad, one of the victims, said, “I heard that Sakshi Gupta duped people of Rs4 crore. I came here to check if my money was safe.”
