Indian fraud scam

Date: June 29, 2006
Source: ThisIsMoney


Police in India have arrested an HSBC employee in connection with a scam believed to have taken more than £200,000 from the accounts of UK bank customers.

The data worker has been accused of hacking the computer system and accessing 'personal, security and debit card information', which was passed on to associates involved in the fraud.

Officers in Bangalore said the employee, Nadeem Kashmiri, had been involved in the theft of £233,000 from the accounts of 20 customers.

The fraud comes amid increased concerns that criminals offering cash in return for personal data are targeting employees at outsourced overseas financial offices.

HSBC said it was assisting the Indian police with their investigation. The bank said all customers affected had been contacted and it would refund the funds removed. A spokesman said: 'We intend to pursue a conviction as aggressively as possible.'
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