Noida: BJYM Leader Harsh Bansal, Mastermind Behind Nainital Bank Hacking, Arrested in Major Fraud Case

In a significant development, Noida police have arrested Harsh Bansal, the alleged mastermind behind the Nainital Bank server hacking case, marking a major breakthrough in the ongoing investigation. Harsh Bansal, who served as the president of the Bharatiya Janata Yuva Morcha (BJYM) in Dadri, is currently in police custody, while efforts are underway to apprehend his brother, Shubham Bansal, a Chartered Accountant believed to be intricately involved in the cybercrime.

Authorities have sealed the Bansal brothers' office in Ghaziabad as they investigate transactions exceeding Rs 30 crore linked to the fraudulent activities. The cyberattack, which involved hacking the RTGS (Real-Time Gross Settlement) channel, resulted in a loss of over Rs 16 crore for Nainital Bank in June. The bank reported the incident in July, prompting the Noida Cyber Crime Cell of Uttar Pradesh Police to launch a full-scale investigation.

According to ACP Cyber Crime Vivek Ranjan Rai, the Bansal brothers, along with their associates, operated a scheme that involved converting black money into white through a network of fake companies. Their firm, B Shubham & Associates, located in Ghaziabad's Loha Mandi, is under scrutiny for its involvement in transactions that surpass Rs 30 crore.

The investigation revealed that Shubham Bansal was responsible for transferring the stolen money from one account to another. Authorities expect to uncover more details regarding the extent of the money transfers and the number of individuals involved once Shubham is apprehended.

In response to the arrest of Harsh Bansal, District President of Yuva Morcha Gajendra Mavi confirmed that Bansal had been expelled from the party during the 2023 civic elections for anti-party activities, though a formal expulsion letter had not been issued. Yuva Morcha regional president Sukhwinder Som stated that he was unaware of the specifics of the case but would seek a report from the local organization.

The investigation has also uncovered that Rs 99 lakh was withdrawn from Nainital Bank through a fake firm, with additional transactions amounting to Rs 16 crore processed through other fraudulent accounts. Authorities are actively pursuing leads on other fake companies and individuals involved in the scam, with three dedicated teams currently searching for the remaining suspects.

In light of the new findings, the police have added charges under Sections 468 (forgery for the purpose of cheating), 120 B (criminal conspiracy), and 201 (disappearance of evidence) of the Indian Penal Code. Earlier, a case was registered under Sections 420 (cheating and dishonesty) of the IPC and 66C (fraudulently or dishonestly making use of the electronic signature) of the IT Act at the cybercrime police station on July 10.

The arrest of Harsh Bansal marks a critical step in unraveling the extensive financial fraud that has shaken the region, as authorities work tirelessly to bring all those involved to justice.