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Five Arrested in ₹1.27 Crore HSBC Credit Card Fraud Using Forged Documents

Mumbai Police apprehend suspects from Assam’s Morigaon district as investigations expand into broader loan scams and syndicate links.

Five Assam villagers arrested for defrauding HSBC Bank of ₹1.27 crore
The FIR in the case was initially registered at Azad Maidan police station in 2023, based on a complaint from an HSBC employee
Mumbai Police Bust Assam Gang in ₹1.26 Crore Credit Card Fraud

Overview

  • Mumbai Police arrested five individuals from Morigaon, Assam, for defrauding HSBC Bank of ₹1.27 crore using forged identity documents.
  • The suspects obtained 55 credit cards between February and June 2024 by targeting individuals with high CIBIL scores and fabricating PAN and Aadhaar cards.
  • Preliminary investigations revealed the accused also secured fraudulent loans from financial institutions including Aditya Birla Finance, Axis Bank, and L&T Finance.
  • Authorities believe the group is part of a larger fraud syndicate spanning 15–20 villages, with over 200 similar arrests in recent months.
  • The accused, granted a week’s transit remand, are being brought to Mumbai for further interrogation as police trace additional co-conspirators and illicit funds.