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Banker booked for giving Rs 4 cr ineligible cashback to known people

By Mahesh Limbani May 21, 2022

The SAKINAKA police in Andheri (east) on Friday registered an FIR against an employee of a multi-national bank, who allegedly misused his authority to authorize cashback collectively worth Rs 4.10 crores to 53 people known to him.

The bank employee was working as a processing officer on contract basis. His work involved analyzing data of customers who are eligible for cash back and forwarding the data to his seniors. His work was also to process the cashback after it was checked by his seniors.
Last year, the bank received multiple complaints from their customers who said that they had received cash back even though they are not eligible for it.

Around the same time, the accused employee resigned from the bank. The bank then conducted an internal inquiry and checked the cashback data for 2021. It found out that 53 people, who are either ineligible or never used the credit card, were given cash back 83 times, collectively worth Rs 4.10 crores. All the transactions were processed by the accused bank employee. An FIR was registered under section 419, 420 and 34 of the IPC for impersonation and cheating.

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