SBI employee held for fraud of Rs 1.4 lakh

A woman staff member of State Bank of India has been accused of stealing money from the Western Union Money Transfer facility of the bank by forging some documents of customers.
The matter came to light  after a year during an internal audit of the bank, by then she had robbed the bank of Rs 1.4 lakh. M Anand, divisional manager of State Bank of India's Richmond Town branch, has filed a cheating compliant against N N Hemavathi, the accused.

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Unique code
The bank has the Western Union Money transfer facility for customers for instant money transactions from around the globe. The bank  provides a unique 10-digit MTCN code number to the customer who avails this facility, which is known only to the sender and the receiver. The receiver would have to present the number to withdraw the amount from any of the bank's branch across the globe.

"The accused, Hemavathi, used to generate fake numbers by forging the documents to withdraw  money. She withdrew around Rs 1.4 lakh in phases in the past one year," said Anand. He also added that Hemavathi preferred to withdraw less then Rs 50,000 every time since withdrawal  above Rs 50,000 was not possible as per the rules. Being the in-charge, Hemavathi knew the procedure and began withdrawing money less than Rs 50,000. The scam came to light during the annual bank audit where several code numbers entered in the bank account to withdraw amount were found to be fake.

Breach of trust
"The matter was brought to the senior officials who questioned Hemavathi. She confessed  to the crime. We have initiated disciplinary action against her for breach of trust and cheating. We want the police to take necessary action," said M Anand, Divisional Manager, SBI. The Sampangiram Nagar police have registered a case against her on November 17 and are investigating the matter now.

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