Sakshi Gupta Bank Fraud: ICICI Employee Steals ₹4.58 Crore from Customer FDs
Imagine placing your life savings in a bank, only to have them disappear without a trace. That’s exactly what happened to 41 unsuspecting customers of ICICI Bank in Kota. Over three years, a trusted relationship manager executed one of the most shocking frauds in recent memory — the Sakshi Gupta bank fraud.
Let’s dive into the full story of how it happened, how it remained hidden, and what the bank is doing now.
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How the ₹4.58 Crore Scam Unfolded
Between 2020 and 2023, Sakshi Gupta, a relationship manager at ICICI Bank’s Shriram Nagar branch in Kota, misused her access to fixed deposit (FD) accounts of customers.
According to investigators, she tampered with over 110 bank accounts belonging to 41 customers, siphoning off ₹4.58 crore.
Here’s how she managed it:
- Used “User FD” Access: She misused her FD privileges to make unauthorized withdrawals.
- Changed Mobile Numbers: Gupta altered registered numbers with those of her own family members to intercept OTPs.
- Bypassed OTP Alerts: By rerouting OTPs and alerts to herself, the real customers were left completely in the dark.
- Stock Market Investments: The stolen money was pumped into the stock market in hopes of generating quick profits — but those hopes tanked. She lost it all.
Fraud Tactics Uncovered
Police officials revealed even deeper layers of deception. According to Sub-Inspector Ibrahim Khan of Udhyog Nagar police station:
“She even created a system to get OTPs on her desktop, so the account holders didn’t suspect anything.”
“One elderly woman’s account was used as a pool account through which over ₹3 crore was passed.”
To keep the flow of money hidden, she also:
- Activated overdrafts on 40 accounts without permission
- Prematurely closed FDs worth ₹1.34 crore
- Issued a fake personal loan of ₹3.4 lakh
- Misused debit cards, PINs, and ATM access
When Did the Fraud Come to Light?
The Sakshi Gupta bank fraud remained undetected until February 18, 2023, when a customer visited the bank to check his FD status. His suspicion triggered a deeper audit ordered by Branch Manager Tarun Dadhich.
It was only after this that the shocking magnitude of the scam was revealed.
ICICI Bank Responds Swiftly
ICICI Bank issued an immediate response once the scam surfaced. In a public statement (quoted from LiveMint), the bank said:
“The interest of our customers is of paramount importance. We filed an FIR immediately and suspended the employee involved.”
Furthermore, they reassured affected customers:
“We have settled all genuine claims. Our zero-tolerance policy against fraud remains unchanged.”
Legal Action and Arrest
Sakshi Gupta was arrested on May 31 at her sister’s wedding by Udhyog Nagar police and has since been remanded to judicial custody.
Investigations are still ongoing, and further legal proceedings will determine the next steps.
Voices of Betrayed Customers
Some customers, like Mahavir Prasad, are shaken:
“Where should we keep our money? We can’t keep it at home, and now we can’t trust the bank either. What should we do?”
This emotional reaction reflects the breach of trust thousands of Indians place in banks every day.
The Sakshi Gupta bank fraud case is a wake-up call for both customers and institutions. While ICICI Bank acted swiftly to control the damage, it also highlights the need for tighter security and internal audits in the banking system.
If anything, this incident reminds us all to monitor our accounts regularly and never assume our money is 100% safe — even in a reputed bank.
Stay alert. Stay informed.
