Indian police have arrested nine individuals in connection with a sophisticated bank heist where armed men posing as central bank officials stole $800,000 from an ATM cash van in Bengaluru. The arrests come after a multi-state investigation that recovered most of the stolen funds, highlighting ongoing security challenges in cash transportation.
In a bold operation last week, a group of thieves disguised as Reserve Bank of India officials intercepted a cash transport vehicle in the southern city of Bengaluru. Claiming to need verification for the large sum of money, they instructed the cash custodian and two security guards to exit the van and enter an SUV, while one accomplice took control of the vehicle carrying 70 million rupees (approximately $800,000). The heist was meticulously planned, with the perpetrators using fake registration plates and selecting transfer locations with minimal CCTV coverage to avoid detection during the robbery.
Police launched an extensive manhunt involving over 200 officers across Karnataka and neighboring states including Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and Goa. The investigation quickly yielded results, with initial arrests made shortly after the robbery. On Monday, authorities announced two additional arrests, bringing the total to nine detained suspects, and confirmed the recovery of 68.5 million rupees of the stolen money, demonstrating effective coordination among law enforcement agencies.
Among those arrested are Gopal Prasad, an employee of cash transport company CMS; J Xavier, a former CMS worker; and Annappa Naik, a local police constable. The involvement of a police officer suggests possible insider knowledge that facilitated the crime, raising concerns about internal security breaches. Deputy Commissioner of Police Lokesh Jagalasar stated that the investigation continues and more arrests are possible as authorities unravel the full extent of the criminal network operating across state lines.
The case has prompted scrutiny of security protocols for cash transportation in India. Bengaluru Police Commissioner Seemant Kumar Singh emphasized that cash vans should avoid predictable routes and schedules to prevent such targeted attacks, noting that repetitive patterns make them vulnerable. Detectives are examining whether CMS violated established guidelines for transferring large sums of money, focusing on lapses in operational procedures that may have enabled the heist.
The sophisticated nature of the crime—including the impersonation of central bank officials—underscores the level of planning and coordination involved, with police believing the gang had detailed knowledge of cash transport operations. This incident reflects broader issues in securing financial transactions in India’s rapidly growing economy, where large-scale cash movements remain common despite increasing digital payment adoption, posing risks for similar future exploits.
As the investigation progresses, authorities are prioritizing the identification of all participants and understanding how they obtained insider information. The recovery of most stolen funds within days marks a significant success, but it also serves as a reminder for enhanced vigilance and updated security measures in the financial sector to deter such elaborate schemes.
