₹80 Cr Bank Fraud Rocks Bengaluru: CID Takes Over Standard Chartered Probe

• An ₹80 crore fraud involving a Standard Chartered Bank employee and high-profile customers has emerged at its Bengaluru MG Road Branch.
• The Karnataka government has transferred the investigation from Bengaluru City Police to the state's CID due to the large sum involved.
• A relationship manager allegedly diverted HNI customer funds via RTGS to third-party accounts, issuing fake FD bonds.
• Standard Chartered Bank confirmed irregularities, terminated the employee, filed a police complaint, and appointed PwC for an independent probe.
• The bank assures affected customers that misappropriated amounts will be returned after the investigation.

Why It Matters: CID probes ₹80 Cr Standard Chartered Bengaluru fraud; bank assures compensation for affected customers.