State Bank of India files plaint over travel card fraud
It was later found that authorisation of three foreign travel cards was done fraudulently in the name of a single individual.
Mumbai: The Central Bureau of Investigation (CBI) filed a case against a Navi Mumbai resident, Sandeepkumar Raghu Pujari, who allegedly splurged '9.1 crore (USD 1.41 million) on a few British e-commerce websites using a foreign travel card issued by the State Bank of India (SBI). The foreign travel card had a spending limit of '13,000 (USD 200).
The SBI has filed a complaint with the CBI alleging that its NRI Seawoods branch in Navi Mumbai had issued foreign travel cards. The balance in the system maintaining prepaid card details was altered fraudulently for authorising three more cards to the same user.
The complaint stated that its NRI Seawoods branch in Navi Mumbai had issued foreign travel cards following a prepaid application from Yalamanchili Software Exports Ltd. The database support resources were given by MPhasis.
However, on February 28, 2017, the chief operating officer of Yalamanchili Software Exports Ltd reported the incident to the bank which noticed that the balance in the prepaid card system had been altered fraudulently. It was later found that authorisation of three foreign travel cards was done fraudulently in the name of a single individual.