FRAUDS IN HDFC BANK

1 > Forex scam in costing Rs. 6000 crores

The investigative agencies have found that the transactions through the 11 HDFC Bank accounts
started way back in January, 2014, while those from Bank Of Baroda began sometime in August
that year. The amounts were transferred from HDFC Bank to Bank Of Baroda for making
advanced remittances for imports that never took place. Employee Kamal Kalra was arrested in
this case. The 11 bank accounts of HDFC bank in question were of Sanjay Aggarwal and
Chandan Bhatia, who acted as middlemen for such transactions having shell companies in Hong
Kong and Dubai. While five of the 11 accounts were of Bhatia, six belonged to Aggarwal,
sources said. The two have already been arrested along with Kalra. ED investigations under the
Prevention of Money Laundering Act claimed that the HDFC Bank employee was allegedly
helping Bhatia and Aggarwal in remitting the amount through Bank of Baroda against a
commission of 30-50 paise per dollar remitted abroad. The agency is also probing a case for
forex contraventions under the Foreign Exchange Management Act.

2 > Tapas Mohanty fraud case costing Rs. 98.5 lacs.

Mohnaty and his 6 accomplices created a fake cheques of HDFC bank and forged the signature
of company’s authorized signatory, encashing the whopping amount from HDFC’s main branch
in Bhubaneshwar. These cheques were paid to Jan Jagaran organization. After encashing,
Priyadarshi who was working in this organization transferred Rs 95 lacs to his saving account in
IDBI bank. This matter came in light after dupped company contacted HDFC bank complaining
about fraud withdrawal without its knowledge.

3 > Fraud of Rs. 98.7 lacs

Gyanendra, Dinesh, Dharmendra's wife Laxmi, Vikas Singh and Dharmendar’s brother-in-law
were involved and arrested in this fraud case. Dharmendra contacted Gyanendra and Dinesh to
transfer Aggrawal;s money. Dinesh and Dharmendra hatched a plan to change the phone
number linked with Agrawal’s bank account and updated a forged eKYC. Agrawal had filed a
complaint at Hariparvat police station saying that Rs 98.70 lakh was illegally transferred from
his dormant bank with the Sanjay Place branch in Agra of the HDFC Bank into the account of
one Dharmendra Singh, who was also an account holder at the branch.