Icici bank fraud case: The bank is generally the safest place to protect your blood and sweat earnings. Especially, if you do not need money immediately, or long term investment, such as fixed deposits (FD). In FD, banks deposit your money for a certain time. Then in return you get a return at a certain interest rate. This is considered to be one of the safe investment and this is the reason why senior citizens spend their entire life in it.
But this security can also prove to be just cheating. Especially, when a legendary bank employee began to fulfill childish hobbies of his investment with your money. The relationship manager of ICICI Bank fraudulently fraudulently made a stock market.
What is the whole matter?
This is the case of Kota city of Rajasthan. A relationship manager of ICICI Bank is accused of cheating crores of rupees during three years from the FD and loan accounts of senior citizens.
The 26 -year -old female employee has been arrested on charges of embezzlement of Rs 4.58 crore from customers’ accounts. Most of them are senior citizens i.e. elderly account holders. This fraud was caught by the bank’s internal audit team. After this, an FIR was lodged with the police and on 31 May 2025 he was arrested.
How did the fraud?
The Mahila Bank employee did this during the fraud 2020–2023. He withdrew money from customers’ account according to certain patterns.
- Elderly customers target: The accused targeted senior citizens who had fixed deposits and who were less knowledgeable in digital banking.
- Misuse of financial products: He broke their FD in a premature manner without customers’ information and permission, taking overdraft (OD) and personal loans in their name.
- Transfer in money third account: The accused transferred the funds to a ‘third party pool account’ to exclude the funds and avoid identity.
In this way the client does not detect fraud for a long time. Until they see a decrease in statement or interest.
What did the accused do for the money?
He invested this money in derivatives (F&O) through online trading platforms like ICICI Direct and Zerodha. The accused hid his online activities so cleanly that his colleagues or manager did not suspect for a long time. This is the reason why it took so much time to open his pole.
The internal audit team of ICICI Bank got a glimpse of some irregularities, after which the whole matter was revealed, and was immediately suspended and handed over to the police.
Embezzlement of 4.58 crores from 110 accounts
According to reports, an amount of ₹ 4.58 crore was extracted from a total of 110 customer accounts in this fraud. Most of these accounts were of senior citizens. These customers did not know much about digital banking and their trust was completely on the bank.
What is the situation at the moment?
The bank has officially lodged an FIR and the accused female employee has been arrested. All the affected accounts are being investigated by the bank.
The case has once again raised serious questions about the internal security of the banking system and the limits of digital understanding of the elderly customers. This incident is also a warning to be aware of investors and customers, especially senior citizens, digital services and regularly monitor your accounts.
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