IDFC First Bank Scam: 11 Arrested, 100+ Accounts Frozen; Govt Funds Siphoned
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News18•12-03-2026, 19:44
IDFC First Bank Scam: 11 Arrested, 100+ Accounts Frozen; Govt Funds Siphoned
•Vigilance Bureau arrested 11 individuals, including bank and government employees, in a major scam involving IDFC First Bank and AU Small Finance Bank.
•Accused siphoned government funds using fake firms like 'R S Traders' and 'Cap Co Fintech Services', transferring money to shell company accounts.
•Over 100 bank accounts have been frozen, and raids at 16 locations led to the seizure of 6 luxury vehicles and identification of 10 properties.
•The scam involved creating fake debit memos and bank statements to illegally transfer funds from 12 government department accounts.
•Investigation is ongoing, with more senior officials expected to face action as records are meticulously examined.
