A major banking fraud investigation has begun in Uttar Pradesh’s Firozabad district after 96 packets of pledged gold allegedly went missing from a Bank of India branch locker.
The missing gold had reportedly been deposited by customers as security against loans at the bank’s Bharaul branch. While the FIR does not mention the exact weight or market value, authorities suspect the missing gold may be worth crores of rupees.
Custodian’s Absence Raises Suspicion
According to police, the issue surfaced after staff officer and primary custodian Dilip Kumar stopped reporting to duty from May 27 without informing the bank.
His sudden absence halted routine locker operations and gold valuation work at the branch.
When local bank officials could not contact him, the matter was escalated to the Agra regional office.
Strongroom Opened Under Video Recording
On June 15, senior security officials from the bank reached the Bharaul branch for inspection.
Since the locker keys were unavailable due to the custodian’s absence, a duplicate key was arranged.
The locker was opened in the presence of the bank’s panel advocate, Shiv Kumar Sharma, and the entire process was recorded on video to preserve evidence.
During physical verification, officials found that 96 gold loan packets were missing from the strongroom locker.
FIR Filed Against Three Bank Employees
Bank of India’s Agra regional office chief manager Aditya Pratap Singh filed an FIR at Araon police station.
The case names former branch manager Sandeep Yadav, staff officer Dilip Kumar and credit officer-cum-staff officer Naresh Kumar.
Police have registered the case under Section 316(5) of the Bharatiya Nyaya Sanhita, relating to criminal breach of trust.
Police Launch Raids to Trace Accused
Araon police station in-charge Rishi Kumar said a detailed investigation has been launched.
Police teams, including surveillance units, are conducting raids across suspected locations in nearby districts.
Authorities are trying to locate the accused and recover the missing customer gold before it can be sold or moved further.
Why Bank Asset Controls Matter
Gold loan lockers require strict dual-control systems, regular reconciliation, CCTV-backed access logs and independent audits. Any weakness in custody controls can expose both customers and banks to major losses.
Professional auditing services in india can help financial institutions review internal controls, verify asset custody records and detect irregularities before they escalate into fraud.
Shunyatax Global Insight
At Shunyatax Global, we believe trust in banking depends on strong safeguards and transparent accountability. The Firozabad case highlights why regular audits and strict custody verification are essential for protecting customer assets.
For more updates on banking fraud, compliance, taxation and financial governance, visit Shunyatax.in.