Private bank alleges ₹4.49 crore personal loan fraud

An internal investigation by the bank reportedly confirmed the allegations. | Photo Credit: Getty Images The Cyber Crime police have registered a case following a complaint by a private bank alleging a fraudulent scheme involving forged loan closure certificates that enabled the wrongful sanction of personal loans worth ₹4.49 crore.According to the complaint filed by Sudheer Kumar K., an authorised representative of the bank, the fraud came to light after the bank received a whistleblower complaint alleging that fake Loan Closure Certificates/No Due Certificates (NDCs) had been used to secure personal loans.An internal investigation by the bank reportedly confirmed the allegations. The inquiry revealed that while several loan applications were initially supported only by salary slips and b