Trinamool Congress (TMC) leader and Lok Sabha MP Kalyan Banerjee has reportedly suffered a financial loss of nearly ₹55 lakh after cybercriminals gained unauthorized access to his bank account by using forged Know Your Customer (KYC) documents. The incident, which came to light when Banerjee was informed by his bank branch manager, underscores the growing sophistication of digital banking fraud and the vulnerabilities associated with dormant or little-used accounts.

The account in question, held at the State Bank of India (SBI) Legislative Assembly branch, was originally opened when Banerjee was serving as the Member of the Legislative Assembly (MLA) for Asansol South. Over the years, it had primarily been used to deposit allowances received by Banerjee in his capacity as MLA. In recent times, the account had seen minimal activity, rendering it effectively dormant—a factor that may have contributed to the fraudsters’ ability to manipulate the KYC and gain access.

According to reports, the perpetrators exploited forged documents to update Banerjee’s KYC details. They created counterfeit PAN and Aadhaar cards in his name, and in addition, they changed the registered mobile number linked to the account. These steps enabled the fraudsters to gain complete control over the account, after which the unauthorized transfers amounting to nearly ₹55 lakh were executed. The incident reportedly involved the use of Banerjee’s photograph and mobile number to complete verification steps, allowing the fraudsters to bypass security protocols.

The loss was first noticed when the branch manager contacted Banerjee to inform him of irregular activity. While the exact timeline of the unauthorized transactions remains under investigation, it is clear that the fraudsters had successfully bypassed several layers of banking security to target the dormant account. Banerjee was quoted in Anandabazar expressing his frustration over the incident, highlighting the risks associated with both digital banking and political office. In a remark laced with humour, he said, “If you keep money in the bank, criminals will take it, and if you keep money at home, Narendra Modi will take it,” reflecting both his exasperation and political commentary.

Following the incident, the cybercrime department of Kolkata Police has launched an investigation into the matter. The authorities are looking into the modus operandi of the fraudsters, including how they managed to forge critical identification documents and manipulate banking channels to execute the transfers. Investigators are also examining potential lapses in verification protocols at the bank branch and whether there were systemic vulnerabilities that the fraudsters exploited.

Banking experts note that the increasing reliance on digital verification systems, while convenient, has also introduced new avenues for cybercriminals. Dormant accounts, in particular, are considered higher-risk targets because monitoring is often less stringent compared to actively used accounts. In Banerjee’s case, the account had minimal activity in recent years, which may have contributed to delayed detection of the fraudulent transactions.

The incident has drawn attention to the broader issue of cyber fraud targeting public figures. Political leaders often have accounts associated with allowances, reimbursements, and other financial transactions, making them potential targets for cybercriminals who exploit both procedural gaps and personal information obtained from public sources. Security analysts have advised that regular monitoring of accounts, multi-factor authentication, and stringent verification of KYC changes are essential safeguards against such frauds.

This case also highlights the intersection of technology, governance, and personal security, especially in an era where financial transactions increasingly rely on digital platforms. While banks are required to follow robust KYC and authentication procedures, cybercriminals continue to evolve their techniques, using identity theft, forged documents, and other sophisticated methods to circumvent protections.

As the Kolkata Police cybercrime division continues its probe, officials have indicated that they are coordinating with banking authorities to trace the funds and identify the perpetrators. Depending on the investigation’s outcome, this could potentially lead to arrests and the recovery of the stolen amount. In the meantime, the incident serves as a cautionary tale for both individuals and institutions about the importance of vigilance and security in managing financial assets digitally.

The fraud against Banerjee, a senior political leader, also resonates with ongoing concerns regarding the protection of personal data and financial information in India. Experts argue that strengthening digital security frameworks, improving public awareness about cyber threats, and ensuring rapid response mechanisms within banks are critical to preventing similar incidents in the future.

In summary, the fraud targeting Kalyan Banerjee’s SBI account illustrates the vulnerabilities associated with dormant accounts, the risks of digital KYC manipulation, and the growing sophistication of cybercrime. The ongoing investigation by Kolkata Police aims to hold the perpetrators accountable while also serving as a reminder of the broader challenges in safeguarding digital financial assets in the contemporary age.

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