How robbers tricked SBI ATM by displaying ‘Time Out’ error to steal money

According to reports, two unidentified men have been accused of stealing Rs 2.52 lakh from an SBI ATM at Fort in Thiruvananthapuram by tampering with the cash delivery system. The Fort police have registered a case under IPC sections 406 (criminal breach of trust) and 420 (cheating) and are investigating the matter.

How robbers defrauded SBI ATM

The fraud, which took place between June 2022 and July 2023, involved the suspects using multiple stolen or lost ATM cards to withdraw money from an SBI ATM on Padmavilasam Road. They used a clever technique: after withdrawing cash, they left a single bill in the cash compartment. This fraud led the ATM to register the transaction as incomplete and display a timeout error, preventing the amount from being deducted from account holders’ balances.
This meant that no ATM fraud was reported as no money was withdrawn from any bank customer’s account. However, there was a discrepancy between the money deposited in the ATM and the amounts withdrawn from customers’ accounts.

How “ATM fraud” was detected.

The fraud was discovered after discrepancies were detected between the total amount of funds deposited at the ATM and the amounts withdrawn. The banking commission initially investigated the irregularities but could not determine the cause. Unable to find any evidence or lead, the committee even suspected bank employees.
However, the breakthrough came when the investigation team reviewed CCTV footage and identified the suspects and the fact that they were using multiple stolen cards. They observed the suspects frequenting the machine and determined they were using various stolen or lost ATM cards. The SBI officials then filed a report with the Fort Police and gave VVTV the captured photos of the suspects.