2nd telephone scam case against Indian banks to hit the country this week, according to a report by The Times Of India.
The news comes amid a global banking scandal involving several Indian banks.
The first case of its kind in India was registered against four banks on Tuesday, for allegedly making bogus phone calls to consumers.
The scam is one of the largest and most complex in recent times, with a number of crooks operating out of the same bank.
In the first case, a man and a woman from Mumbai were arrested and have been charged with making bogus calls to bank employees, according the police report.
It was also alleged that they would call the bank to buy items such as watches and jewelry.
According to the police, the fraudsters also contacted banks in other parts of the country to ask them to issue cash withdrawal of more than Rs 1 lakh.
A few days ago, three other banks also reported the same cases to the CBI, and the agency has also registered cases against seven other banks.
“This is a major blow to India’s banking system.
It will impact a huge number of people,” an official from the National Payments Corporation of India told the Times of Indian.
The report adds that a total of Rs 13,000 crore in funds was lost through the frauds, as well as the losses to banks of around Rs 4,500 crore.
A senior bank official told the newspaper that the bank is trying to trace all of the victims through their bank account details, as the amount of money lost through frauds in India is not very large.
“As far as we know, only the victims have been identified.
But there may be more victims in the future,” the official said.
Indian banks, including ICICI Bank, State Bank of India, State Industrial Bank of Ireland, HDFC Bank, and State Bank, have all been targeted by the scams.
According the Times Of Indian, the cases have been traced to the country’s largest and biggest banks, the Standard Chartered Group, State Insurance Corporation of Tamil Nadu, and Bank of Baroda.