Duo who duped bank of crores in 2010 held by cyber cops
The cyber crime police solved a case involving two people who duped a leading government branch of Rs 1.65 crore in 2010 and arrested the men, Sunil and Fayyaz Karim Shaikh, on Friday. According to a senior police official, the accused used stolen credit card information to rack up sales of over Rs 2 crore at their jewellery store in Bandra and claimed the amount from Bank of India, where they held a current account linked to the store.
Gold and Diamonds opened for business in Link Square Mall, Linking Road, Bandra in October 2010. The owners approached BoI and requisitioned a credit card swipe machine in order to carry out transactions, linked to a current account they held at the bank. Gold and Diamonds had shut shop in 2011.
When the financial services corporation Visa learned that a single store in Bandra had notched up sales of Rs 2.68 crore in a month in 2010, it began inquiries. The firm discovered that the purchases were made using credit card data stolen from customers in the US. Visa instructed BoI to refund it Rs 1.65 crore (the amount spent using stolen credit card data) and the bank complied.
“We tried tracing Tiwari but couldn’t get through. The documents provided to the bank were all fake. We then started studying the transactions made by the accused from his bank account when it was active. Finally we traced one person and when contacted he revealed that he never knew any person by the name of Sanjay Ram Tiwari,” said senior police inspector Nand Kishore More from the cyber police station. “The person then revealed that the transaction was done by a person named Sunil. When we nabbed Sunil we found that he used aliases like Subhan bhai, Aamir Aqueel Ansari. He was the man behind the fraud”.
Sunil’s arrest on Friday led the police to Fayyaz Karim Shaikh, 34, an auto rickshaw driver from Malwani in Malad. Sunil had promised Fayyaz a small sum of money in return for his photographs, which were used to draw up fake documents. Fayyaz claimed ignorance when asked what became of the pictures and the documents.
Sunil and Fayyaz have been booked for cheating, fraud and several sections of the IT act.
Gold and Diamonds opened for business in Link Square Mall, Linking Road, Bandra in October 2010. The owners approached BoI and requisitioned a credit card swipe machine in order to carry out transactions, linked to a current account they held at the bank. Gold and Diamonds had shut shop in 2011.
When the financial services corporation Visa learned that a single store in Bandra had notched up sales of Rs 2.68 crore in a month in 2010, it began inquiries. The firm discovered that the purchases were made using credit card data stolen from customers in the US. Visa instructed BoI to refund it Rs 1.65 crore (the amount spent using stolen credit card data) and the bank complied.
In 2013, BoI filed a case with the cyber crime police, which began its search for the owner of the store, Sanjay Ram Tiwari. It quickly determined that no such person existed and that the account to his name was linked to fake documents – Permanent Account Number, driver’s license, ration card and voter identification.
“We tried tracing Tiwari but couldn’t get through. The documents provided to the bank were all fake. We then started studying the transactions made by the accused from his bank account when it was active. Finally we traced one person and when contacted he revealed that he never knew any person by the name of Sanjay Ram Tiwari,” said senior police inspector Nand Kishore More from the cyber police station. “The person then revealed that the transaction was done by a person named Sunil. When we nabbed Sunil we found that he used aliases like Subhan bhai, Aamir Aqueel Ansari. He was the man behind the fraud”.
Sunil’s arrest on Friday led the police to Fayyaz Karim Shaikh, 34, an auto rickshaw driver from Malwani in Malad. Sunil had promised Fayyaz a small sum of money in return for his photographs, which were used to draw up fake documents. Fayyaz claimed ignorance when asked what became of the pictures and the documents.
Sunil and Fayyaz have been booked for cheating, fraud and several sections of the IT act.
