Shimla: A major bank fraud of around ₹3.70 crore has come to light at the Bank of Baroda’s Kasumpti branch in Shimla.
Police have registered an FIR at Chhota Shimla Police Station, naming the branch manager as the accused.
According to sources, the fraud came to notice after funds were allegedly siphoned off from the APMC account and transferred without authorization.
The suspicious transactions triggered an internal alert, leading to the involvement of law enforcement.
Officials said the case involves “serious financial irregularities” and a probe has been launched to trace the flow of money.
“The FIR has been registered and investigation is underway,” police sources confirmed.
Local sources in Kasumpti said the revelations have created a stir among depositors and APMC officials, who have demanded strict action and recovery of funds.
Bank of Baroda’s higher authorities are also expected to initiate their own inquiry into the matter.
More details are awaited regarding the exact modus operandi and whether other staff members or outsiders were involved in the fraudulent transfer.