India, Sept. 18 -- A 20-member special investigation team (SIT) has been formed to probe the Rs.41 crore cyber fraud targeting an e-wallet firm in the city, police officials said on Wednesday. The SIT, the first of its kind in a cybercrime case here, will be headed by ACP (cybercrime) Priyanshu Dewan and include at least 20 investigating officers, officials added.

The fraud was detected just weeks before the firm's annual general meeting. A security breach in its software enabled customers to transfer any amount into bank accounts or make payments even without sufficient balance. Transactions were also processed even after entering incorrect PINs, officials said.

Police said the total syphoned amount has risen to Rs.41 crore from the in...