UCO Bank 7.5 Crore Fraud Case: The Central Bureau of Investigation (CBI) on Thursday conducted raids at several locations across West Bengal in connection with an alleged ₹7.5 crore fraud involving UCO Bank. The action forms part of a wider investigation into suspected financial irregularities that led to losses for the public sector bank.
The probe was initiated after UCO Bank lodged a formal complaint, drawing attention to a series of suspicious transactions. Following a preliminary assessment, the CBI took over the case to examine possible cheating, forgery, and criminal conspiracy behind the alleged diversion of funds.
Investigators believe that certain individuals and entities worked in coordination to misuse banking channels and siphon off large sums of money. Although the identities of those involved have not yet been made public, officials say the case involves serious violations of banking norms and financial regulations.
Multiple CBI teams visited offices and residential premises linked to the suspects early Thursday. During the searches, officers seized financial documents, digital devices, and transaction records that are expected to help trace the money trail and establish how the fraud was carried out.
UCO Bank, a government-owned lender, reportedly detected irregularities during internal audits. These findings raised concerns about deliberate financial manipulation, prompting the bank to seek an independent and thorough investigation by the central agency.
The seized material will now be examined by financial and forensic experts. The CBI will analyse bank statements, communication data, and transaction histories to identify the beneficiaries and determine the full scope of the alleged scam. Officials said further questioning, arrests, and legal proceedings could follow based on the evidence collected.
The investigation is still at a preliminary stage, and more details are expected to emerge as the probe progresses. The case has once again highlighted the importance of strict oversight and accountability in India’s banking system, particularly when public funds are involved.
CBI carried out raids across West Bengal in a ₹7.5 crore UCO Bank fraud case. The probe began after the bank filed a complaint. Investigators seized key documents and digital evidence, and further legal action is likely as the investigation continues.