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Bank of Maharashtra files FIR against 50 people in UPI fraud

Bank of Maharashtra files FIR against 50 people in UPI fraud

Saturday, March 11, 2017, 5:43 PM

State-owned Bank of Maharashtra has filed an FIR against 50 people for illegally pulling money using the Unified Payments Interface and causing a loss of Rs 6.14 crore to the financial institution. The accused used the UPI app to "collect" money from the accounts of the bank's customers, which did not even have requisite balance. They exploited a bug in the bank's UPI app.
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