He said banks were not investing time and technology to trace the fraudsters.
According to the police, the preliminary investigation shows that a sum of Rs 47,396,000 was stolen from Agricultural Development Bank.
Kolahalamedu resident Rajkumar, 49, who was taken into custody on charges of financial fraud on June 12 and produced before the court only on June 15 died seven days later during remand custody.
Superintendent of Potti Sriramulu Area Hospital at Bapatla transferred, two others sacked
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However, the Crime Branch team has got hints about the Malappuram native, who is said to be the owner of the private finance institution.