NEW DELHI: The Central Bureau of Investigation (CBI) suspects that some of the Letters of Undertaking (LoU) issued by the Punjab National Bank (PNB) to diamantaires Nirav Modi and Mehul Choksi in the nearly Rs 14,000 crore credit fraud case might have been generated via proxy servers after illegally obtaining the SWIFT system password from the public sector banker’s officials.
The CBI has seized two servers, one each from the premises of Modi and Choksi after searches and a forensic analysis is being conducted.
The PNB had issued over 300 LoUs, out of which at least 224 were realised at different branches of Indian banks abroad.
The prime accused arrested in the case and a former PNB deputy manager Gokulnath Shetty has told the CBI sleuths that he had unauthorised access to the password of SWIFT system to issue LoUs, a senior CBI official said. He said Shetty has also admitted that he had shared the password to the executives of firms owned by Modi and Choksi.
“Once the suspicion is confirmed after examination of the forensic analysis reports, the findings will figure in the chargesheet the CBI is planning to file within the stipulated 60-day period,” the official said.
The PNB officials accused in the case skipped entry of the fraudulent LoUs in the Core Banking System of the bank to evade detection.
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication and provides a network that enables financial institutions including banks to send and receive information about financial transactions in a secure format.