SRINAGAR: The Economic Offences Wing (EOW) of the Kashmir Crime Branch launched a series of targeted searches across the Shopian and Budgam districts on Wednesday. The operation is part of a deepening investigation into a high-value financial fraud discovered at the HDFC Bank branch in Shopian.
Key Developments
- The Charges: The investigation follows the registration of FIR No. 30/2025, which cites violations under the Bharatiya Nyaya Sanhita (BNS) and the IT Act.
- Arrests Made: Five bank employees have been taken into custody for their alleged involvement in the scheme.
- The Catalyst: The crackdown was triggered by a formal complaint detailing systematic, large-scale financial irregularities within the Shopian unit.
Investigation Details
The Crime Branch Kashmir (CBK) confirmed to GNS that the raids were necessary to recover evidence and trace the digital footprint of the unauthorized transactions. Authorities are currently scrutinizing bank records and digital devices seized during the searches to determine the full scope of the embezzlement.
“The matter came to light following a written complaint regarding large-scale financial fraud at the Branch Unit Shopian of HDFC Bank.” — Crime Branch Kashmir Statement
What This Means
This move signals a rigorous stance by the EOW against white-collar crime in the banking sector, particularly involving internal staff who exploit institutional trust.
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