In today’s world, everyone owns a credit card. Several incidences reported on the daily basis sometimes prohibit us from getting one for ourselves.

A man living in Mumbai has spent a whopping amount of Rs 9.1 crore ($1.41 million) on several e-commerce websites. CBI arrested him for the fraud.

SBI filed a complaint with the CBI

He was making transactions by a foreign travel card issued by the State Bank of India (SBI). His card limit was only of Rs 13,000 ($200). SBI Mumbai branch highlighted the matter to CBI. NRI Seawoods branch in Mumbai issued the card to him on  November 7, 2016.

The Foreign Travel Cards prepaid application was provided by Yalamanchili Software Exports Ltd.  The database support resources were provided by MPhasis. The Yalamanchili CEO   reported the incident to the bank on February 28, 2017.


What came out in CBI report?

He altered the balance in prepaid card system fraudulently. It authorized three foreign travel cards belonging to a single individual. The authorizations were mainly on e-commerce websites of four merchants and involve around 374 transactions amounting to $1.41 million.

These transactions happened over a period of three months from November 8th, 2016 to February 12, 2017.  He was having two more similar cards. The accused was Sandeep Kumar Raghu Poojary.


 Statement of Sandeep Kumar Raghu Poojary

He has issued the card for $200. He stated that there was no load and reload on the cards. The first e-commerce transaction was on November 8, 2016, at Neteller.Com, entropy, swift voucher, and SKR Shrill.Com.

He made the transactions via Visa with Merchant country code as Great Britain. His transaction and billing currency was in USD. Oracle Database was responsible for altering the card balance.The authorization transaction was deleted from prepaid card system. He removed the general entry and cleared the balance sheet of the prepaid card system.

CBI under charges of criminal conspiracy, cheating, forgery, and violation of the Information Technology Act arrested Poojary.


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