Bank CEO in Mumbai loses Rs 2 lakh in credit card fraud

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Police said the executive immediately notified his bank of the fraudulent transaction, blocked his card and had his office lodge a complaint with the police

Srinath Rao

The CEO of a leading multinational bank lost Rs 2 lakh in a credit card fraud earlier this week.

A foreign national, the executive has been heading the India operations of the bank — which is headquartered in BKC — for nearly three years. Police said the fraud took place on Tuesday when the 49-year-old executive was in his hotel room.

According to police, even as the CEO had his credit card with him, he received a text message for a transaction of Rs 2 lakh towards purchase of medicines from a pharmacy.

Police said the executive immediately notified his bank of the fraudulent transaction, blocked his card and had his office lodge a complaint with the police.