A Fake branch of SBI bank constructed, operates for 3 months! Trio held

In a startling revelation in Panruti, Tamil Nadu, police have detained three individuals involved in a sophisticated operation running a duplicate of SBI bank for a staggering three months.! 

The duplicate branch came under the radar when an SBI customer enquired about the newly-opened branch in North Bazaar with the manager of an existing branch in the town.

Police confirmed the arrests, highlighting Kamal Babu as the mastermind behind this fraudulent endeavor. Notably, Babu’s parents had ties to the banking sector, with his father passing away a decade ago and his mother retiring from a bank just two years prior.

The trio consisted of a proprietor managing a printing press in Panruti, where all essential banking documents were illicitly produced. Moreover, another member specialized in crafting counterfeit rubber stamps, crucial for their deceptive operation

Suspicion arose when an alert SBI customer reported an unauthorized branch in Panruti, prompting further investigation. Upon verification, the SBI Zonal office confirmed only two authorized branches in Panruti, raising concerns about the authenticity of the third.

SBI officials, upon inspection, uncovered an intricately replicated facade mimicking a genuine SBI branch, equipped with identical systems and infrastructure. Following this discovery, officials promptly alerted the authorities, leading to  the arrest of the three individuals involved in the scheme.

No Financial Losses Incurred by SBI Due to Operation’s Swift Shutdown

Thankfully, no transactions occurred, averting any potential financial losses for the bank. The swift intervention led to the dismantling of the fraud operation before it could inflict any damage.