Mumbai Cyber Cell Busts ₹1.26 Crore HSBC Credit Card Fraud; Five Held From Assam's Morigaon

Mumbai: Mumbai Police have arrested five individuals from Assam’s Morigaon district for their involvement in a massive cyber fraud case involving the use of forged documents to acquire credit cards from HSBC Bank and siphon off funds. The fraud, amounting to ₹1.26 crore, is currently being probed by the Cyber Crime Cell of Azad Maidan Police Station.

According to officials, the accused created fake PAN cards and other documents to obtain 55 credit cards between February 23 and June 20, 2024. These cards were then used for online purchases and transferring money into fraudulent bank accounts.

The complaint was filed by Nayan Chandrakant Bhagdev, Vice President (Financial Crime Investigation) at HSBC Bank. The bank alleged that the fraudsters gathered personal details of individuals with high CIBIL scores and used them to fabricate Aadhaar cards and other documents. These were then used to acquire credit cards in their names.

Under the supervision of Senior Police Inspector Shamrao Patil, the investigation team analyzed mobile numbers, bank statements, and transaction histories to trace the key suspects. Based on technical evidence, a search operation was conducted on April 17, 2025, in sensitive areas of Morigaon, leading to the arrest of five accused.

The arrested individuals have been identified as Mohebbur Abdul Rehman (28), Azharul Sadikul Islam (27), Ilyas Rafiqur Islam (25), Abu Bakar Siddique Ramzan Ali (37), and Mohimuddin Ahmed Abdul Malik (26).

Preliminary investigations have also revealed that the accused took fraudulent loans worth several crores from Aditya Birla Finance, Axis Bank, and L&T Finance using forged documents. Further investigation is underway to identify more individuals involved and trace the money trail.