Chhattisgarh's Fake SBI Branch Exposed: A Major Bank Fraud

Thursday, 3 October 2024, 02:42

Chhattisgarh locals have fallen victim to a major bank fraud involving a fake State Bank of India (SBI) branch. Set up in Sakti district, this fraudulent operation deceived residents with its convincing facade and illegal activities. Residents were duped during recruitment drives and financial transactions until authorities intervened.
Abplive
Chhattisgarh's Fake SBI Branch Exposed: A Major Bank Fraud

Chhattisgarh Witnesses Major Bank Fraud

A fake branch of the State Bank of India (SBI) has been identified in Chhattisgarh’s Sakti district. This fraudulent bank operated under the guise of offering banking services to unsuspecting locals and collecting deposits.

Details of the Fraudulent Operation

  • Established in a rented shop with a convincing setup of furniture and equipment.
  • Authorities believe the branch functioned since September 18, luring locals into opening accounts.
  • Fraudsters conducted fake recruitment drives and financial transactions.

Local police, tipped off by a legitimate bank branch, discovered the ruse on September 27 during a surprise investigation. This incident highlights the need for vigilance in banking operations to prevent future scams.

Importance of Identifying Fake Banking Operations

With such incidents emerging, it is critical for individuals to verify the legitimacy of banking institutions. Engaging with known and established banks can safeguard against fraud.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe