It came to light that some newly-opened bank accounts at BoB’s Ashok Vihar branch, made illegal transfers of a whopping Rs 6,172 crores to Hong Kong in foreign exchange.
The bank was alerted when the the forex business of its branch rose to Rs 21,529 crore during 2014-15 – an increase of over 500 times as compared to the business in 2013-14, which stood at just Rs 45 crore. The illegal transfers took place during August 1 and August 12, 2015. In total, 8,667 forex transactions were reported from the single branch.