Seven Arrested for $800K Bank Heist in Bengaluru

In Bengaluru, seven individuals have been taken into custody following a brazen theft involving ₹70 million (approximately $800,000) from an ATM cash transport vehicle. The robbery took place three days prior, but police managed to crack the case, recovering ₹57.6 million of the stolen funds.

Authorities disclosed that the perpetrators masqueraded as Reserve Bank of India officials, halting the cash van in the Lalbagh district during daylight hours. They claimed to require verification paperwork for such a substantial cash amount, subsequently coercing the cash custodian and two security personnel into an SUV while one thief commandeered the cash van.

Officers later revealed that the gang utilized counterfeit vehicle registration plates and carefully selected locations with minimal or no CCTV coverage to transfer the cash. They even switched vehicles during the heist to evade capture.

Those apprehended include Gopal Prasad, a staff member of the cash transport firm CMS, J Xavier, a former employee of CMS, and Annappa Naik, a local law enforcement officer. Investigations are ongoing to locate two or three additional suspects linked to the crime.

Bengaluru Police Commissioner Seemant Kumar Singh announced that over 200 police personnel from Karnataka and neighboring states—Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and Goa—were deployed to apprehend the criminals.

Furthermore, the police are probing CMS for any potential misconduct in cash handling. Commissioner Singh cautioned that cash vans must avoid adhering to the same route and schedule to reduce their vulnerability to criminals.

This incident underscores the urgent need for enhanced security protocols for cash transport to thwart future bold robberies. The investigation remains active as authorities aim to apprehend all suspects promptly.