Seven booked for Rs 3.66 crore bank fraud

Seven persons, including four employees of a bank, have been booked in a Rs 3.66 crore fraud case, police said today.
The accused allegedly tampered with the computer system of the bank and committed the fraud, they said.
An offence under relevant sections of the IPC and the IT Act were registered against the seven at the Naupada police station here last evening, the police said.
According to a complaint lodged by the bank, the accused tampered with the loan processing software of the bank. They fabricated the loan applications, "sanctioned" and released loans worth Rs 3.66 crore to 55 people, they said.

The crime took place between March and July 2016, they added.
During a probe by bank officials, it was revealed the accused stole the user ID and passwords of the loan processing staff of the lender and got the loans "sanctioned" and disbursed, the police added.
The disbursed money was siphoned off by some of the accused, they added.