The Central Cyber Police have arrested a bank manager and his assistant (Representative image)
MUMBAI: The Central Cyber Police have arrested a bank manager and his assistant of a Chowpatty branch in connection with an alleged Rs 29.83 lakh fraud in which money was siphoned off from the bank account of a dead customer after her registered mobile number and email ID were allegedly changed using a forged customer request form. An internal inquiry found that the changes were allegedly made using a customer request form bearing forged signatures.The bank’s internal inquiry found that her mobile number and email ID were allegedly changed in July 2025 through a customer request form submitted at the Tardeo branch. During the inquiry, bank employee Abhishek Verma allegedly told the bank that Panjwani had instructed him in July 2025 to update the customer’s mobile number and email ID. The altered details were allegedly used to access Patil’s account and prematurely close two fixed deposits worth Rs 14.87 lakh. Three RTGS transactions of Rs 5 lakh each were allegedly transferred to an account of another bank.
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The fraud came to light after the bank received a complaint alleging unauthorised changes to the mobile number and email ID linked to the account of one late Vimla Patil, according to the complaint filed by bank itself after. Police are also looking for one more person in the case. The signatures on the form reportedly did not match the bank’s records. The proceeds were subsequently transferred through RTGS, NEFT, UPI, IMPS and mobile banking transactions to several accounts. The bank has alleged that Panjwani, Verma and Ram Pal conspired to prepare the customer request form in the name of the deceased customer and forge her signature. The transaction trail also showed several payments to jewellery establishments, including Palkhi Jewellers and Ratnamani Jewellers. Police have arrested Panjwani and are investigating his alleged role in the conspiracy, the money trail and the involvement of the other accused. Download the TOI App.
Police on Monday arrested Rahul Panjwani, former branch head of a private bank ’s Chowpatty branch and another employee Abhishek Verma.