Seven people have been arrested in India following a brazen 70 million rupees ($800,000; £600,000) heist in which armed men posing as central bank officials stole cash from an ATM transport van in Bengaluru. Authorities said on Saturday that 57.6 million rupees of the stolen money had been recovered.
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Bengaluru police commissioner Seemant Kumar Singh told the BBC that a seventh suspect had been taken into custody, adding that it would take time to determine the amount of money still in his possession. Police said they are still searching for two or three additional suspects involved in the crime.
Those arrested include Gopal Prasad, an employee of the cash transport company CMS, former CMS worker J. Xavier, and Annappa Naik, a local police constable.
The robbery occurred in broad daylight in the Lalbagh area of Bengaluru. Police said the gang posed as officers from the Reserve Bank of India and stopped the cash transport vehicle, claiming they needed to inspect paperwork for the large sum of money. The van’s cash custodian and two security guards were instructed to get into an SUV, while one member of the gang took control of the van.
Investigators said the robbers employed careful planning, changing vehicles, using fake registration plates, and selecting locations with minimal CCTV coverage to move the cash. A massive manhunt was launched on Wednesday, involving more than 200 police officers deployed across Karnataka and the neighbouring states of Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and Goa.
Police are also examining the role of CMS in the incident and investigating potential violations of protocols for transporting large amounts of cash. Singh highlighted the need for security companies to avoid predictable patterns in routes and schedules. “The vans should not follow the same route and timing repeatedly so as to become predictable,” he said.
The case has raised concerns over security practices for cash transport in India, with authorities emphasising the need for stricter adherence to guidelines and improved monitoring to prevent similar incidents in the future.
Bengaluru police continue to investigate the heist, working to locate the remaining suspects and recover any outstanding funds. Officials have urged cash transport companies to review their procedures to ensure the safety of staff and assets.
The arrest of seven suspects and recovery of the majority of the stolen funds has been welcomed by law enforcement, but the investigation remains active as authorities work to bring all perpetrators to justice.
