HDFC Bank Fraud: 5 Employees Arrested as EOW Kashmir Raids Shopian and Budgam
SRINAGAR, Feb 18, 2026 — The Economic Offences Wing (EOW) of the Kashmir Crime Branch has launched a massive crackdown following a high-value financial scam at HDFC Bank’s Shopian branch. In a series of coordinated raids across the Shopian and Budgam districts, investigators are currently scouring multiple locations to recover material evidence linked to Case FIR No. 30/2025. The investigation, which involves violations of the Bharatiya Nyaya Sanhita and the IT Act, was escalated to the Crime Branch following a written complaint detailing large-scale fraudulent activities within the bank unit.
Five bank employees have been formally arrested in connection with the heist. The suspects have been identified as Adil Ayoub Ganai of Nowgam, Irfan Majeed Zargar of Shopian, Mubashir Hussain Sheikh of Kulgam, Zaid Manzoor of Anantnag, and Javaid Ahmad Bhat of Pulwama. Following directives from the J&K Police Headquarters (PHQ), the case was transferred from the local Shopian Police Station to the specialized Crime Branch to ensure a comprehensive probe into the technical and financial complexities of the fraud.
The EOW has reaffirmed its commitment to maintaining financial integrity and pursuing all legal avenues to bring the perpetrators to justice.