Rourkela: The Cyber Crime & Economic Offences Police Station under Rourkela Police has uncovered a large-scale credit card fraud involving financial record manipulation, forged documents, and unauthorised cash withdrawals, amounting to Rs52.9 lakh, plus accrued interest.
The investigation was initiated after a complaint was received from ICICI Bank. The probe revealed that the primary accused, Md. Tabrez Alam, had lured several individuals into applying for credit cards, promising easy approval despite their lack of stable income. Alam allegedly connived with a Tax and Account Services firm in Udit Nagar to fabricate income tax returns (ITRs) to secure high-limit credit cards.
An ICICI Bank employee responsible for sourcing credit cards ensured that the customers passed the eligibility criteria using these forged documents. Once issued, the credit cards were used to make cash transactions at merchant establishments in Rourkela, which were later converted into EMIs.
Further investigation of Tabrez Alam’s bank account showed a credit accumulation of Rs2.7 crore from September 2023 to August 2024, with multiple deposits traced back to the fraudulent transactions.
Similarly, the bank account of a chartered accountant, the owner of the Tax and Accounting Services firm involved in the fraud, showed a credit accumulation of Rs8 crore from September 2023 to August 2024, with multiple deposits traced back to the fraudulent transactions into various benami accounts. The EMIs were paid irregularly and sometimes handed over to Tabrez Alam, who deducted a commission before making payments.
The merchants involved facilitated these fraudulent transactions, allowing credit card funds to be misused. The fraudulent credit applications and transactions led to wrongful gain for the accused and a corresponding loss to ICICI Bank.
Following a thorough investigation, a cyber police team headed by Inspector Khitish Patra arrested four persons — Md. Tabrez Alam (37), proprietor of Libas Tailors; an employee of ICICI Bank’s credit card department; the proprietor of Tax and Account Services, Udit Nagar; and the proprietor of RN Traders, Udit Nagar.
The police also seized three POS terminals used for swiping the credit cards. Further investigations are underway to identify other possible accomplices involved in the fraudulent scheme, and other agencies will be notified to check for links to additional fraudulent activities, a press release issued by Rourkela Police said.
PNN
