Two young college students, Arif Khan from Haryana and Asmat Khan from Rajasthan, aged 19 years and 20 years respectively were arrested in Mumbai on Thursday, after an assistant police sub-inspector from Ngapada police station, Sandesh Manjrekar, lodged the cheating complaint, for a fraud of Rs. 10 crores from a number of banks all over the country. The two students learned the technique of switching off ATM machines right before they dispensed cash. After that, they would collect the dispensed cash, and immediately complain to the customer care of the concerned bank that money had been debited from their accounts in spite of incomplete transactions and would claim refunds. Santosh Bagve, senior Inspector of Ngapada police station said, “they had over 50 debit cards that they used to withdraw cash from ATM machines. They had learned how to switch off the machines just before the cash was dispensed. The banks would check their records and only see that the transactions had failed due to machines going offline, and would refund the same amount of money that the accused had already withdrawn.” For this purpose, the duo had opened several bank accounts in 2018 and deposited a negligible amount of money in each of them. The two accused are currently held in police custody.
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