Cash management firm staff swindle Rs 2 crore meant to be deposited in ATMs

HASSAN: A major scam has rocked Hassan, with allegations that two staff members of a Cash Management Services (CMS) company embezzled crores of rupees meant to be deposited in ATMs. The incident came to light during an internal audit, which revealed discrepancies in the cash deposits.

The accused, Nandish and Madhu, are alleged to have falsely entered cash deposits into the system, pocketing the money instead of loading it onto ATMs. The CMS company has initiated an internal investigation, and officials are expected to file a complaint with the KR Puram police station in Bengaluru.

The scam involves ATMs of 15 banks, including Canara Bank, SBI and ICICI Bank, with an estimated loss of over Rs 2 crore. The audit revealed that the staff had manipulated the system, showing cash deposits that were never made.

The CMS company officials are expected to lodge a formal complaint with the police, who will investigate the extent of the embezzlement and identify those involved. The incident has sent shockwaves among the CMS staff, who are anxious about the outcome of the investigation.