A major case of financial fraud has come to light in Kanpur, Uttar Pradesh, where a group of individuals allegedly stole ₹1.39 crore by manipulating the cash recycling mechanism of a Bank of Baroda ATM. The incident took place at the bank’s Kidwai Nagar branch between March 21 and April 24.

The case was reported to the police by Ghanshyam Omer, manager at Hitachi, the company responsible for managing ATM cash deposits. Following the complaint, police examined CCTV footage from the ATM and successfully identified and arrested the suspects.

Insider Involvement Uncovered

During the investigation, police first apprehended Deepak Jaiswal, a custodian employed by the company that services the ATM. Upon questioning, he disclosed that he was not acting alone. He named his associates — Vipin Dixit of Devki Nagar, Ashish Tripathi of COD Colony, and two brothers Ankit and Ashish — who were also involved in the act.

The police have since arrested all the accused and recovered ₹11 lakh in cash and a gold chain, which was allegedly purchased using part of the stolen money.

Recovery Efforts and Investigation Updates

According to Deputy Police Commissioner Deependra Nath Chaudhary, the accused were taken into police custody on remand to assist with the investigation. So far, the police have successfully recovered a total of ₹38 lakh, along with gold jewellery linked to the crime.

The case began with the initial recovery of ₹16 lakh, followed by an additional ₹11.80 lakh after further interrogation during remand. Authorities believe more funds and assets may be traceable in the coming days as the investigation continues.

The case highlights the risks associated with insider access to sensitive systems and emphasizes the importance of robust internal controls within organizations handling cash logistics.