SBI ATM Scam: How Timeout Error Helped Thieves Steal Rs.2.52 Lakh

SBI ATM Scam: How Timeout Error Helped Thieves Steal ₹2.52 Lakh
Two people are accused of stealing Rs 2.52 lakh from an SBI ATM in Fort, Thiruvananthapuram, by manipulating the cash dispensing mechanism. The Fort police have registered a case under IPC Sections 406 (criminal breach of trust) and 420 (cheating) and are investigating the matter.
The theft took place between June 2022 and July 2023, during which the suspects used several stolen or lost ATM cards to withdraw cash from the SBI ATM located on Padmavilasam Road. They used a clever method: after taking out cash, they would leave behind a single note in the cash delivery slot. This caused the ATM to mark the transaction as incomplete and show a Timeout Error, which meant that the amount was not deducted from the customers’ accounts.
As a result, there were no reports of ATM fraud since money was not taken from any bank customer’s account. However, there was a discrepancy between the cash deposited in the ATM and the amounts withdrawn from customer’s accounts.
The scam was uncovered when inconsistencies were noticed between the total cash deposited in the ATM and the amounts that had been withdrawn. Initially, a bank committee looked into these irregularities but was unable to determine the cause. Without any evidence or leads, the committee even began to suspect bank employees.
However, the investigation took a turn when the team reviewed the CCTV footage, which helped them identify the suspects and their use of multiple stolen cards. They noticed that the suspects frequently visited the ATM and had used various stolen or lost ATM cards. Following this, SBI officials lodged a report with the Fort police and provided them with CCTV images of the suspects.