A massive fraud has been uncovered at IDFC FIRST Bank's Chandigarh branch. The victim? Haryana government-linked accounts. The amount? Rs. 590 crore.
How Was It Caught?
The Haryana government asked the bank to close an account and transfer funds — but the balance on record didn't match what was actually there. Digging deeper revealed the same problem across multiple government accounts.
What's Being Done?
- 🔴 4 employees suspended
- 🔍 Forensic audit launched
- 👮 Police complaint filed
- 🏦 Board & regulators informed
The bank confirmed this is limited to specific government accounts and does not affect regular customers.
The Lesson
Even regulated banks aren't fraud-proof. Check your statements regularly and stay alert to any discrepancies — no matter how small.
Stay informed. Stay vigilant.
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