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PNB Branch Empties Customer Accounts: 12 Suspended
31 Oct
Summary
- Twelve PNB employees suspended amid alleged customer account fraud.
- Over ₹11.24 crore reported missing from savings and fixed deposit accounts.
- CBI investigating possible fraud involving branch manager's password.
Twelve employees of Punjab National Bank (PNB) have been suspended from its Greater Noida branch due to allegations of customer account fraud. The bank has also alerted the Central Bureau of Investigation (CBI) regarding the incident.
Preliminary assessments suggest that less than ₹10 crore was transferred out of customer accounts. However, account holders have reported losses exceeding ₹11.24 crore, with some estimates placing the total amount involved close to ₹35 crore, affecting savings accounts, fixed deposits, and investments.
Investigations point to a female employee allegedly working with external individuals who purportedly used the branch manager's password to execute unauthorized transactions. PNB has suspended all implicated staff, including the branch manager, as the investigation continues. The bank has confirmed settling three claims totaling ₹43 lakh and pledged to honor all legitimate claims.
An FIR has been registered against unidentified bank employees for criminal breach of trust. PNB has stated its zero-tolerance policy towards financial misconduct and is reviewing internal controls to prevent future occurrences.
