Former employee attempts to rob bank, gets caught

The ex-employee of Jammu & Kashmir Bank was dismissed a year ago on charges of fraud

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A former employee of Jammu & Kashmir Bank, who was dismissed for being involved in a fraud a year ago, tried to rob the bank. Mohammad Abrar hid in the false ceiling of the Bank overnight, and then tried to transfer money into his account.

Officials of the Mendhar branch of the Bank were alerted of the transfer by the security system, and they immediately called the police who then caught Abrar red-handed.

Abrar, who belongs toAri village in Mendhar, had lost his job in 2021. He gained entry into the Bank during working hours, managed to conceal himself in the false ceiling and waited for nightfall to rob the bank. However, he was unable to get through the security system of the bank, which alerted officials and led to his arrest when he was trying to transfer the money to his account.

The possibility of the involvement of other staff members in this robbery attempt hasn’t been ruled out. Abrar is being interrogated to find out if there were others amongst the staff who were part of this robbery plan.

According to a study by the US-based Association of Certified Fraud Examiners (ACFE) and corporate security experts, about 25 to 40 per cent of all employees rob their employers. In fact, the study reveals that organisations lose about five per cent of their revenues annually to employee fraud. As per ACFE’s 2014 Global Fraud Study, the median loss resulting from just one instance of occupational fraud is about $145,000! The study also revealed that it is the organisations and businesses with less than 100 employees that have a higher chance of being robbed. They had 28 per cent higher fraud losses than bigger companies.

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