ATM Cash Custodian Arrested

Kumaraswamy Layout police have arrested a 30-year-old custodian of a cash management firm on charges of stealing over Rs 1 crore from ATM where he was depositing cash over the last five years hoodwinking security checks and audits.

Accused Shiva Kumar, a resident of JP Nagar, had joined the firm in March 2013 and worked until October 2017 before it came to the knowledge of the firm that Rs. 42 lakh went missing.

The firm suspected Kumar's role and lodged a complaint with KS Layout police who arrested Kumar on Friday. During interrogation, Kumar not only revealed that he had stolen Rs. 1 crore in the past few years, but also confessed how he had stolen cash and manipulated records.

According to police, Kumar being the custodian would visit the ATM and deposit 80% of the cash and would pocket the remaining amount. He would then manipulate records by mentioning the total amount deposited was the full.

Kumar also confessed that being a custodian and in-charge of cash deposits, he knew the password and had the keys using which he would withdraw the cash whenever he wanted. Though the firm knew there were discrepancies in cash transactions during annual audits, they did not presume the quantum would be this big.

Moreover, they also had CCTV at every ATM, but did not suspect him at all, a senior police officer said.

Kumar would lend the stolen money to his friends and relatives and recover it in small amounts for expenses whenever he required, the police said. Based on his confessions, the police recovered Rs. 91 lakh from his relatives and friends while the remaining amount Kumar said that he had spent it.

We are probing further to ascertain the involvement of others, a senior police officer said.