Four ATM cash custodians siphon off Rs 1.23 crore in Hyderabad

Four employees working at an ATM cash deposit company allegedly siphoned off Rs 1.23 crore. The issue came to light when auditing and the authorities of Secure Value India Private Limited alerted the police.

The private firm in Secunderabad along with BTI payment private limited is responsible for depositing cash in the ATMs of various banks. The BTI payment private limited deposits cash in 36 ATM centres in the city and it appointed Raja Sekhar Reddy, Rama Bharat, Sai Teja and Ashwin as custodians.

Since there was no daily/weekly report on ATM centres entrusted to the four employees, the firm conducted auditing and found discrepancies in the deposited money and the money obtained from various banks. Around Rs 1,22,98,800 amount was not deposited in machines.

The Cybercrime police registered a case against the four people and launched an investigation. Efforts are underway to nab the culprits.