Once these accounts have a reasonably good transaction history, the company is sold off to the likes of Indrajit Chatterjee who park the money procured by duping various organisations.
The amount, thus collected, moves through multiple bank accounts before getting transferred through RTGS into the account of another such gang, which later pays the likes of Indrajit in cash, thereby making it difficult to trace the source of money.
According to Pallab Kanti Ghosh, Joint Commissioner of Police (Crime), a number of such cases of bank frauds have come to light recently. Most of these frauds have at least five-to-six common fraudsters. “We have been holding meetings with bankers to sensitise them on such issues,” he said.