Bengaluru Fintech Firm Reports Rs 31.43 Crore Cyber Fraud Involving 301 Unauthorised Transactions:

A massive cyber fraud has recently been exposed in Bengaluru by a fintech firm. According to the sources, the fraud involves the use of unauthorised transactions of Rs 31.43 crore. A case in the present matter was registered by the Whitefield Cyber Crime, Economic Offences, and Narcotics (CEN) police under Sections 66(C) and 66(D) of the Information Technology Act, 2000, along with Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita, 2023.

According to the sources, the company runs a digital financial services platform from Varthur, Whitefield, through which it provides several financial and banking services to customers.

As per the registered complaint, on November 04, 2026, the company received an alert SMS from its concerned bank informing about certain suspicious transactions of about Rs 8.47 crore that occurred in the bank account of a customer in the same bank. Subsequently, on November 5, 2026, an internal probe was launched, which revealed that debit transactions amounting to approximately Rs 31.43 crore were carried out from the company's escrow account maintained with a private bank without authorisation.

Thereafter, from the same amount, Rs 68.48 lakh was returned into the same account. According to the complainant, following the withdrawal, the debited amount was transferred into 127 beneficiary bank accounts.

On the same day, 301 unauthorised debit transactions were noted in the escrow account maintained with the bank.