On Wednesday Chennai’s bank fraud wing of the city police's Central Crime Branch arrested two persons on the charge of cheating several banks to the tune of Rs 8.5 lakh. The accused S Krishna Kumar (22) and R Barathi Syam (21), both are residents of M K B Nagar, have been arrested on the complaint of Narotham Kumar, manager, risk control unit, Citibank. From the accused police recovered five computers, a motorcycle and seven credit cards from the duo.
Krishna Kumar, used to work as a collection agent for two banks and later ran a computer centre, and Bharati Syam, a collection agent, both of them became partners in crime after discovering innovative methods of cheating banks using credit cards.
According to the complainant, the duo targeted Citibank credit card holders who had never used their cards. A CCB official in an interview to the TOI told "Kumar first contacted these persons and told them that since they had not used the cards they could return them and get fresh ones from the bank. The next day, Syam contacted them over phone and reiterated what Kumar had said. He said a person from Citibank would come to their homes with a letter and that they could submit the cards to him. Then, the duo armed with the 'letters,' collected the credit cards. They then went on a shopping spree". Using these credit cards they made purchases worth Rs 3.25 lakh.
Not satisfied with that, they copied some credit card applicants and received the cards in their names.
"Syam, who used to get many applications for credit cards, used them to receive cards. He pasted his photograph on the application forms and used the same identity certificates. He replaced the address on the form with his and asked the banks to send the cards to his address. The duo managed to dupe seven customers and received cards addressed to them from ABN Amro Bank, HSBC, Barclays and ICICI Bank," the official said. Krishna Kumar started computer center at M K B Nagar with this money.
The duo accused used the cards for various purchases and cheated the banks to the tune of about Rs 5.25 lakh.
CCB officials suggests that those who do not want to use their credit cards should cut them up and submit to the banks concerned to avoid such cheating.