Scamming the Ambitious: How Fraudsters Exploited Indian Job Seekers with a Fake Bank

Scamming the Ambitious: Jyoti Yadav was thrilled to secure a job as an office assistant at a new bank branch near her village after four years of job hunting amid financial strain. She believed she was working for the State Bank of India (SBI), the country’s largest government-backed lender. However, just a week into her role, police and SBI officials arrived to inform her that the bank was fake.

Yadav was shocked, having gone through an interview process and receiving an appointment letter and identity card, with a promised salary of 30,000 rupees ($357; £273) a month. Along with five others, she had started working there.

Authorities have arrested one person and are searching for eight more involved in this scam. Employment-related frauds are common in India, especially in small towns where job opportunities are scarce. In 2022, several men were deceived into counting trains under the false pretense of getting jobs with the Indian Railways.

The job crisis is particularly severe in rural areas, leading many to take risks, including paying illegal bribes for job promises. Police noted that the six employees of the fake bank came from financially vulnerable backgrounds and some had paid significant bribes for their positions.

Unraveling the Scam: How Job Seekers Were Deceived by a Fake Bank

According to the initial investigation, many individuals were tricked into paying money under the guise of securing a bank job and were sent to the fake branch for “training.” After approximately two weeks, they were told they would soon be appointed to an SBI branch.

Victims report that the fraudsters created an illusion of legitimacy around the bank. Jyoti Yadav explained that she filled out an online form, uploaded her educational certificates, and submitted biometric data as part of the onboarding process, which is common in many Indian firms.

“I never felt for a moment that I was caught in a fraud. But now everything is ruined,” she lamented, revealing that she paid 250,000 rupees—a significant amount that she struggled to gather—as a bribe for the job.

Another victim, Rohini Sahu from a nearby village, was offered a position as a marketing officer by the same fake employers.

Everything—the letter, signboard, building, and infrastructure—made her believe it was a real bank. “No one could have imagined this wasn’t a legitimate bank,” she said.