Fresh complaint of Rs 18 lakh missing from PNB branch account reported

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Representational image | Photo: PTI

Kozhikode: The Town Police have received a fresh complaint saying Rs 18 lakh has been missing from an account at the Link Road branch of Punjab National Bank. The preliminary assumption in the investigation conducted by the PNB Chennai zone is that former senior manager MP Rigil committed the fraud alone.

Rigil became a senior manager within seven years of joining the bank. He was being considered for another promotion when the money fraud surfaced. Rigil withdrew money breaching the maker-checker process that is used while transferring money from the bank. Due to this, neither those who lost the money nor the bank noticed the fraud.

When someone makes a request for money withdrawal, one official of the bank has to check and another officer has to verify the same. The bank found in its investigation that Rigil hacked the security codes that was sent to both officials to swindle the money. Bank authorities have taken measures to resolve the security flaws in the software used for the maker-checker system.

The bank has also assured that Rs 15.24 crore that was lost from the accounts of Kozhikode Corporation will be returned within two days. Bank’s investigation report would soon be submitted to the Kochi unit of the CBI.

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