Five HDFC Bank employees arrested in financial fraud

Srinagar, Feb. 18 -- The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has arrested five employees of HDFC Bank in connection with a large-scale financial fraud, officials said on Wednesday.

The EOW also conducted searches at multiple locations in Shopian and Budgam districts in connection with the case registered last year under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

According to officials, the FIR invokes Sections 316(5), 318(4), 340(2), 61(2) and 336(3) of the BNS along with Section 66C of the IT Act, which pertains to identity theft and misuse of digital credentials.

Officials in EoW said the fraud surfaced following a written complaint alleging financial irregularities...