ED on Banking Fraud & SIM Swap Scam: Searches Conducted in PNB Account Fraud Case.

The Directorate of Enforcement (ED), Patna, conducted search operations at four locations in Muzaffarpur in connection with a sophisticated banking fraud involving fraudulent withdrawals from savings accounts maintained with Punjab National Bank. The investigation revealed that criminals siphoned off approximately ₹1.29 crore from two victims through SIM card swapping and online banking manipulation, followed by layering and cash withdrawals to launder the proceeds of crime.

• The ED initiated investigation on the basis of two FIRs registered by the Bihar Police at Nagar Police Station, Muzaffarpur, under various provisions of the Indian Penal Code, 1860, which are scheduled offences under the PMLA, 2002.

• The FIRs related to fraudulent withdrawals from savings bank accounts maintained with Punjab National Bank, Jawaharlal Road Branch, Muzaffarpur.

• The investigation revealed that approximately ₹1.29 crore was fraudulently siphoned off from the accounts of two victims, involving ₹1.07 crore (approx.) from one account and ₹22.40 lakh (approx.) from another.

• The fraud was executed through a sophisticated modus operandi involving SIM card swapping and online banking manipulation.

• The mobile numbers registered with the victims’ bank accounts for SMS alerts and online authentication were fraudulently swapped using fake identity documents.

• While the perpetrators controlled the duplicate SIM cards, they activated internet banking services by sending messages to PNB’s toll-free number.

• Large sums were thereafter transferred from the victims’ accounts, routed through multiple layers, and eventually withdrawn in cash from ATMs located in Kolkata.

• A substantial portion of the withdrawn cash was subsequently deposited into various bank accounts of the perpetrators using Cash Deposit Machines (CDMs), thereby laundering the proceeds of crime.

• During search operations conducted on 11.12.2025 at four locations, several incriminating materials and documents were seized.

• Funds amounting to approximately ₹83 lakh lying in bank accounts of the perpetrators were identified and frozen during the searches.

• Prevention of Money Laundering Act, 2002 – Investigation, attachment and freezing of proceeds of crime.

• Indian Penal Code, 1860 – Cheating, forgery, identity theft and related offences forming scheduled offences under PMLA.

• Banking and electronic fraud jurisprudence relating to SIM swap and cyber-enabled financial crimes.