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With SBI card of Rs 13K limit Mumbaikar spends Rs 9.1 crore on UK websites, CBI files FIR

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(G.N.S) Dt. 13
New Delhi
Plastic money is the latest form of making any sort of monetary transaction these days. While almost everyone wants to own a credit card there are several incidences reported on the daily basis that sometimes prohibit us from getting ourselves one. Recently, it was found that a man hailing from Mumbai has allegedly spent a whopping amount of Rs 9.1 crore ($1.41 million) on several e-commerce websites. The following transactions were made by a foreign travel card issued by the State Bank of India (SBI) with a limit of just Rs 13,000 ($200). Soon after the alleged monetary fraud was highlighted, a case was filed by the CBI.
The matter was highlighted; the SBI filed a complaint with the CBI. In the complaint filed, the SBI stated that the card was issued by its NRI Seawoods branch in Navi Mumbai. The prepaid application of Foreign Travel Cards was provided by Yalamanchili Software Exports Ltd and the database support resources were provided by MPhasis. As per the complaint filed, the Chief Operating Officer (CEO) of Yalamanchili Software Exports Ltd had reported the following incident to the bank on February 28, 2017.
A Mumbai-resident allegedly spent $1.41 million (Rs 9.1 crore) on British e-commerce websites using a foreign travel card issued by the State Bank of India with a meagre spending limit of $200 (Rs 13,000) prompting the CBI to register an FIR on Monday, officials said.
The SBI had filed a complaint with the CBI in this regard alleging that its NRI Seawoods branch in Navi Mumbai had issued a Foreign Travel Cards for which the prepaid application is provided by Yalamanchili Software Exports Ltd and database support resources are provided by MPhasis, they said.
“On 28 February, 2017, the Chief Operating Officer of Yalamanchili Software Exports Ltd reported the incident to the bank,” the complaint said.
It came to the notice that balance in prepaid card system has been altered fraudulently for authorisation of three foreign travel cards belonging to a single individual, it said.
“The authorisations have mainly happened over e-commerce web sites of four merchants and involve around 374 transactions amounting to $1.41 million. These transactions have happened over a period of three months– from 8 November, 2016 to 12 February, 2017,” it said.
The bank alleged that card was issued by NRI Seawoods branch on 7 November, 2016 on which two more cards were issued to the card holder.
“The cards were issued to one Sandeep Kumar Raghu Poojary for $200. Thereafter there was no load or reload on the cards. Transactions took place in the cards from 8 November, 2016 on four merchant sites as e-commerce transactions- Neteller.com, entropay, swiftvoucher and SKR Shrill.com,” it said.
The bank alleged that all merchant transactions came via Visa with Merchant country code as Great Britain with the transaction and billing currency as USD.
It is suspected that while transactions happened on the prepaid card system, the balance appear to have been altered manually via the Oracle Database access and post authorisation the settlement transaction and authorisation have been deleted from the prepaid card system including the general ledger entry and so the balance sheet generated on the prepaid card system did not get any difference, the bank has alleged.
The CBI has booked Poojary and unidentified persons under charges of criminal conspiracy, cheating, forgery and violation of the Information Technology Act.

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