Bhubaneswar, Jan 31: The Cyber Crime & Economic Offense Police Station in Rourkela has successfully dismantled a large-scale credit card fraud scheme, revealing a complex network of financial manipulation, forged documents, and unauthorized cash withdrawals. 

Four individuals have been arrested in connection with this case: Md. Tabrez Alam, the owner of Libas Tailors; an employee from ICICI Bank's Credit Card Department; and the proprietors of Tax and Accounting Services and RN Traders, both based in Udit Nagar. Police have also seized three Point of Sale (POS) machines used for processing credit card transactions from the suspects.

According to an official press release, the investigation was initiated following a complaint from ICICI Bank regarding fraudulent transactions amounting to Rs 52,90,000, plus accrued interest. It was uncovered that Md. Tabrez Alam had lured multiple individuals into applying for credit cards by promising easy approvals despite their unstable financial situations. Collaborating with a tax and accounting firm, he allegedly created fabricated income tax returns to obtain high-limit credit cards.

An ICICI Bank employee played a critical role in this scheme, ensuring that the fraudulent applications met the eligibility criteria using forged documents. Once issued, these credit cards were primarily utilized for cash transactions at various merchant establishments in Rourkela. Under the influence of the accused, customers swiped their cards to receive cash, later converting the transactions into equated monthly installments (EMIs), further perpetuating the fraudulent activity.

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