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Moga digital bank fraud: Man goes for FD renewal, finds Rs 32.50 lakh missing

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A man was allegedly defrauded of Rs 32.50 lakh after unauthorised transactions were routed from his account into multiple external bank accounts.​The incident came to light when the victim, Kulwant Singh visited his local Punjab and Sind bank branch to renew a maturing Fixed Deposit (FD). Upon reviewing his account statement and details with bank officials, he discovered that substantial sums had been systematically siphoned off and transferred to various unfamiliar accounts without his knowledge or authorisation.​Shocked by the discovery, the victim immediately brought the matter to the attention of the branch authorities and subsequently lodged a complaint with the police.​Preliminary inquiries suggest a potential cyber fraud or unauthorised fund diversion. The local police have initiated an investigation, examining bank transaction logs, account details, and digital trails to trace the recipient accounts and identify the perpetrators behind the illegal transfers.

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