Kanpur Financial Fraud: EOW Apprehends Four in ₹1.42 Crore Fixed Deposit Scheme

The Economic Offences Wing (EOW) has apprehended four individuals in connection with a sophisticated financial fraud scheme involving ₹1.42 crore siphoned from customer accounts in Kanpur. The case, originating in 2020, centers on fraudulent manipulation of 25 fixed deposits and 15 savings accounts. Preliminary investigation indicates collusion with bank personnel, enabling the premature liquidation of fixed deposits and subsequent diversion of funds into personal accounts controlled by the accused. This operation highlights systemic vulnerabilities in deposit security protocols and internal oversight mechanisms within financial institutions. The EOW's coordinated action underscores ongoing efforts to combat white-collar crime and restore institutional trust. Further forensic analysis of transaction trails and digital evidence is expected to reveal the full scope of this multi-layered scheme, potentially implicating additional accomplices. Authorities emphasize that this case represents a critical test of regulatory enforcement capabilities against increasingly complex financial crimes targeting retail banking customers.