Mumbai Crime: MBA student loses Rs 80K to fraudsters as he sleeps

Updated: Jul 31, 2017, 21:02 IST | midday online correspondent | Mumbai

A 25-year-old MBA student and resident of Byculla lost Rs 80,000 to card fraudsters. The money was drawn from various ATMs in Bandra and Khar

Card fraud
Representational Image

A 25-year-old MBA student and resident of Bycullay lost 80,000 rupees, to card fraudsters. The money was drawn from various ATMs in Bandra and Khar. What‘s really shocking is that the withdrawal limit of the card was only 40,000.

As per reports by the Times of India, the incident occurred on July 17. Varun Nambiar (25) woke up to see a number of transactions carried out on his card, and the total money withdrawn was 80,000, even though his withdrawal limit was 40,000 per day. Unfortunately, neither has the bank nor has the JJ Nagar Police station filed an FIR despite Namibar’s repeated requests.

The money is said to have been withdrawn at night, when the complainant was  asleep. In a statement he said, “I lost the entire money I earned while working with a CA firm and studying in the last one year. Surprisingly, the money was withdrawn from ATMs when the withdrawal limit was Rs 40,000, which shows the bank’s flaw.”

Also read: Mumbai: Mumbai Crime: 53 UK nationals cheated of Rs 18 lakh in credit card fraud

The seven transactions included the first two withdrawals of Rs 20,000 each at 12.03am and 12.05am. This was followed by four withdrawals for Rs 10,000, between 12.05am and 1am. Nambiar said, “When I called the bank’s customer care number at night, they replied that the money would get reversed in the morning. When I checked online in the morning, nothing was left in my account. Now the bank has put its hands up.”

The Police have registered an FIR only to acknowledge Nambiar’s written complaint on July 17th.  In a statement to the Times of India, senior inspector Dilip Shinde said that he would look into the matter and asked Nambiar to visit the police station to lodge an FIR on Sunday. 

Trending Videos

Watch video: Mysterious deaths of starlets!


Download the new mid-day android app to get updates on all the latest and trending stories on the go

Sign up for all the latest news, top galleries and trending videos from


Maharashtra Elections 2019: Pankaja Munde and Dhananjay Munde battle it out for Parli

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK