Demonetization skimmed the Cheque fraud cases

     Written by : SMTV24x7 | Tue, Jan 24, 2017, 02:08 PM

Demonetization skimmed the Cheque fraud cases

Hyderabad, January 24: As we Know that, we had seen many cheque rejection cases like forged signatures after demonetization. It greatly hit the fraud thing made by cheques. Conmen transferred 9.21 lakh from a bank account of an NGO, MV Foundation, which works for child rights.

Though a representative of the NGO approached Hyderabad police a week ago informing that unidentified persons, using a fake cheque and forged signatures, had transferred 9.21 lakh from their trust's bank account, no action was taken and not even a FIR was lodged. Luckily, demonetisation proved to be a savior for the NGO.

The NGO was founded by former chairperson of the Commission for Protection of Child Rights Shantha Sinha, who was honored with Padma Sri and Ramon Magsaysay awards. The NGO's secretary, MR Vikram, approached Marredpally police a week ago saying 92-year-old managing trustee M.Krishnamurthy and his signatures were forged on a duplicate cheque leaf, bearing original number.

The foundation has a bank account with Bank of Baroda, Marredpally, and the fraudsters deposited the duplicate cheque at Canara Bank, Ameerpet. However, money got credited in Canara Bank, Palghar branch, Thane, in December last week.

Canara Bank, Palghar branch officials grew suspicious after the sudden influx of `9.21 lakh and contacted Bank of Baroda, Maredapally authorities, who in turned verified with MV Foundation trustees.

The foundation trustees denied issuing the cheque.The criminals were then hit by demonetization. The accused transferred `9.21lakh, but could withdraw just `8,000. Marredpally inspector C Umamaheshwar Rao admitted a case was yet to be registered. "Talks are on whether it should be dealt with us cyber crime wing," he said.