Standard Chartered Expands Rs 80 Cr Fraud Probe in Bengaluru HNI Funds Diversion

• Standard Chartered has expanded a fraud investigation at its Bengaluru priority banking unit.
• The probe targets the diversion of at least Rs 80 crore from HNI accounts at the MG Road branch.
• Case originated from a customer complaint about Rs 2.7 crore missing; Karnataka government transferred probe to CID.
• Bank identified a single employee, filed police complaint, terminated employee, and engaged PwC for detailed investigation.
• Standard Chartered assures full refund for misappropriated funds to affected clients.

Why It Matters: Standard Chartered is investigating an Rs 80 crore HNI fund diversion in Bengaluru, assuring client refunds.