Panchkula Mayor Loses ₹42 Lakh in Fraud

Panchkula : A shocking case of cyber fraud has come to light in Panchkula where ₹42.50 lakh was transferred from the account of Mayor Kulbhushan Goyal after Punjab & Sind Bank allegedly acted on a fake letter received via WhatsApp. The incident has raised serious concerns over banking security and compliance procedures.

According to Mayor Goyal, the amount was withdrawn from his personal account without his consent after bank officials received an unauthorized communication resembling an official letter. “I never authorized any such transfer. It was a forged document sent from a fake WhatsApp number, and still, the bank processed the transaction,” Goyal told reporters.

The fraudulent letter bore a fake signature and appeared to be an official request for the fund transfer. Without verifying the authenticity of the document or contacting the account holder, the bank transferred the amount to an unidentified recipient. Preliminary inquiries suggest that no proper documentation or physical verification was conducted, which is a direct violation of banking norms.

The Panchkula police have launched an investigation into the matter and registered a case under sections of cybercrime and criminal breach of trust. Cyber experts have also been roped in to trace the source of the WhatsApp message and the beneficiaries of the transferred amount.

Meanwhile, Punjab & Sind Bank is facing intense scrutiny over its handling of the situation. Banking norms mandate that all large transactions, especially those requested via digital or third-party channels, be verified with the account holder. In this case, officials failed to make a verification call or follow due protocol.

Mayor Goyal has demanded a full probe by the Reserve Bank of India (RBI) and has written to senior banking authorities seeking immediate redressal and compensation. “This is not just a personal financial loss, but a wake-up call for the banking system,” he said.

The incident has triggered panic among account holders and brought the spotlight back on vulnerabilities in digital banking, especially when linked with messaging apps like WhatsApp.

As the investigation continues, both the police and bank officials are under pressure to provide answers and ensure accountability.