Odisha EOW busts QR code manipulation scam of Rs 14 cr

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The Economic Offences Wing (EOW) of the Odisha Police detected a case in which more than Rs 14 crore has been siphoned off by manipulating QR codes of a Fintech company, an official said.

The EOW has arrested Karan Kumar Singh, a resident of Noida's Sector-19, Uttar Pradesh, on July 6 under different sections of the IPC and IT Act.

The arrest was made against a case filed by Sanjib Kumar Parida, Chief Technology Officer of IServeU Technology Pvt Ltd, a Bhubaneswar-based Fintech company.

Parida alleged that his company had entered technology integration agreements with Noida-based Payone Digital Services Pvt Ltd in April for providing digital payment services.

On June 19, it came to light that the accused had manipulated QR codes to embezzle credit of R14.33 crore, fraudulently diverting it to over 125 different bank accounts.

125
Number of bank accounts used for diverting funds

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