In a shocking case of ATM theft in Meerut, Shubhanshu Sharma (40) and Kapil Kumar (38), both employees of a cash logistics firm, were arrested for allegedly siphoning off Rs 68 lakh from multiple ATMs. The accused, residents of Meerut, were caught after discrepancies in the cash management process came to light.
According to SP (City) Ayush Vikram Singh, the fraud was uncovered after SBI switched from Secure Value, the company initially responsible for ATM refills, to Hitachi Payment Services for cash management. During a routine audit, Hitachi officials discovered discrepancies in cash amounts in three ATMs across the city. These included missing sums of Rs 23 lakh, Rs 14 lakh, and Rs 31 lakh from ATMs located in Lohia Nagar and near Gandhi Bagh.
The investigation revealed that the accused, who were employees of Secure Value, used their internal access to carry out the thefts. ATMs typically have a two-layer security system: a normal lock and a dynamic lock with a frequently changing 24-digit code. Employees are given access to the code when depositing cash. However, Sharma and Kumar had created duplicate keys for the normal lock, enabling them to unlock the ATMs without causing any physical damage, and they used their access to obtain the dynamic security code.
During interrogation, the accused confessed that the theft was driven by their personal financial needs. Police recovered Rs 14 lakh in cash, along with two duplicate keys and Rs 35 deposited in one of their bank accounts. Following their arrest, both men were sent to jail.
