Kochi: In light of the increasing instances of cyber fraud involving the transfer of money through bank accounts purchased for a price, CCTV surveillance at ATMs across the state will be strengthened. Malayalis have also been found involved in several recent large-scale financial frauds. The fraudulent money was transferred to the bank accounts of Malayalis and withdrawn through various ATMs in Kerala.

It was later discovered that the money was then transferred to several other bank accounts both within India and abroad.

One such fraud involved a native of Perumbavoor, who, along with accomplices, defrauded a Chennai resident and gained access to his bank account. The fraudulent money was then transferred to various bank accounts.

In a recent incident where the owner of a pharmaceutical company in Kochi lost ₹25 crore, it was found that the money had been transferred to the bank account of a Kollam native. The amount was withdrawn from an ATM in Palarivattom.

In another case, involving a doctor from Mattannur in Kannur, who lost over ₹4.48 crore, the culprits withdrew the money from ATMs in places including Aluva.

During investigations tracing the flow of funds, it was found that the actual bank account holders had no connection to the fraud. It is in this context that efforts are being made to identify those who withdrew the money.

Joint meetings between bank employees and the police are being held to strengthen measures to combat cybercrime.