Major Cyber Fraud Racket Busted in Lucknow, Union Bank Manager Among 4 Arrested

Lucknow (UP): In a major crackdown, the Uttar Pradesh STF has busted a cyber fraud racket in the state capital and arrested four individuals, including a Union Bank manager. The racket was being operated from an office in Omaxe City, New Hazratganj. From there, the accused allegedly used forged documents to log in with bank employees’ IDs and carried out large-scale loan-related fraud.

Investigations revealed that the arrested bank manager was orchestrating fraud under the guise of Mudra loans and auto loans, siphoning off crores of rupees using fake accounts and documents.

During the raid, the STF recovered four luxury cars including a BMW, multiple mobile phones, laptops, and incriminating documents linked to the fraud.

Officials stated that the network of this gang could be spread across other states as well. Interrogation of the arrested individuals is underway, and efforts are on to trace their associates and wider links.

This action is being seen as a major success for the STF in its fight against the growing menace of cybercrime in the banking sector.