Bengaluru: In a daring heist on Tuesday, employees of a cash-loading company in Bengaluru siphoned off Rs 1.38 crore worth currency notes which were meant for ATM deposits.
An employee of Hitachi Payment Services Pvt. Ltd, a company employed by State Bank of India (SBI) and Axis Bank for depositing cash into their ATMs, lodged a complaint alleging that staff tasked with loading the machines siphoned off approximately Rs 1.38 crore, reported NDTV.
The cash was withdrawn from Axis Bank’s Koramangala branch for deposit into ATMs.
Two FIRs have been registered based on the complaint — one of theft amounting to Rs 80,49,800 and another concerning Rs 57,96,400.
Police suspect that the Hitachi Payment Services employees took the money over
a period of time.
The complaint was registered several weeks after the fraud was detected.
Police, who are in the process of issuing notices to employees to interrogate them, have sought documents and financial trails from Hitachi Payment Services to check more details.
November CMS cash van robbery
The incident comes two months after a robbery of over Rs 7 crore from a CMS cash van in Bengaluru itself.
On November 19, 2025, people posing as Central government Tax officers intercepted a cash management services van in broad daylight at Jayanagar. The robbers persuaded the CMS staff — two armed guards and a cash custodian — to move into their vehicle for verifying documents, instructed the driver to move to the Dairy Circle flyover.
The said flyover was known to them as an area with low CCTV coverage, where the robbers held the driver at gunpoint, transferred the cash boxes into their Innova, and fled with over Rs 7.11 crore.
Bengaluru police cracked the case within 60 hours, arresting nine people including former CMS employees and a police constable as key conspirators. Almost the entire money was recovered.