Bhubaneswar, (Orissa Today) Jan 31: The Cyber Crime & Economic Offence Police Station under Rourkela Police has uncovered a massive credit card fraud involving forged documents, financial manipulation, and unauthorized cash withdrawals. The case, linked to fraudulent transactions worth ₹52.9 lakh plus accrued interest, was initiated based on a complaint from ICICI Bank.
Police have arrested four individuals, including Md. Tabrez Alam, proprietor of Libas Tailors; an ICICI Bank credit card department employee; the proprietor of Tax and Accounting Services, Udit Nagar; and the proprietor of RN Traders, Udit Nagar. Three POS machines used for fraudulent transactions were also seized.
Investigations revealed that Md. Tabrez Alam lured individuals into applying for credit cards, promising easy approvals despite their lack of stable income. With the help of a tax and accounting firm, he fabricated income tax returns (ITRs) to obtain high-limit credit cards. An ICICI Bank employee allegedly assisted in ensuring the applications met eligibility criteria using forged documents.
Once issued, the credit cards were swiped at merchant establishments for cash withdrawals, later converted into EMIs. A deeper probe into Alam’s bank transactions revealed a credit accumulation of ₹2.7 crore between September 2023 and August 2024, linked to the fraud.
Rourkela Police busts ₹52.9 lakh credit card fraud, four arrested
