In a significant case of internal malpractice, an assistant manager at Bank of Baroda has been formally charged for orchestrating an ATM fraud amounting to Rs 71.41 lakh. The incident came to light in Bantwal, Karnataka, following a routine internal audit.
Inspection Uncovers Dual Financial Crimes
The fraudulent activities were detected during a scheduled safe locker inspection conducted on December 19, 2025. Investigators discovered not only the massive cash discrepancy from ATM operations but also a separate theft. The inspection revealed that 4.400 grams of gold, valued at approximately Rs 55,000, had been stolen from the bank's custody.
Details of the ATM Fraud Scheme
The assistant manager, whose identity is central to the ongoing police case, is accused of systematically siphoning funds from automated teller machines under his supervision. The total misappropriated sum of Rs 71,41,000 points to a prolonged period of fraudulent activity rather than a one-time theft. Local authorities in Bantwal have registered a formal complaint and are investigating the methods used to divert such a large amount without immediate detection.
Consequences and Ongoing Investigation
This case has raised serious questions about internal controls and monitoring mechanisms within the bank's branch operations. The discovery of two distinct crimes—the high-value ATM fraud and the gold theft—during a single inspection suggests potential systemic vulnerabilities. Bank of Baroda officials are cooperating with the police probe. The incident underscores the critical need for reinforced internal audits and stricter oversight of employees with access to cash and valuables, especially in smaller towns and cities.
The legal process is now underway, and the accused assistant manager faces serious charges under relevant sections of the Indian Penal Code for breach of trust, cheating, and criminal misappropriation. The bank has assured customers that their deposits remain secure and that it is taking stringent steps to prevent such occurrences in the future.
