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Just months after the sensational CMS cash van robbery, another major breach has surfaced as Hitachi Payment Services employees allegedly escaped with over ₹1.3 crore meant for ATM deposits in Bengaluru’s Koramangala area.
Even as investigations into the CMS cash van robbery case are still fresh in public memory, another major cash theft has shaken Bengaluru. This time, the fraud allegedly involves employees of Hitachi Payment Services Pvt Ltd, a company responsible for depositing cash into SBI and Axis Bank ATMs.
The incident came to light after more than ₹1 crore in ATM cash went missing, reportedly siphoned off by company staff assigned to deposit the money. Police sources confirmed that two separate teams were involved in the alleged fraud.
According to the complaint, Hitachi Payment Services officials had collected cash from the Axis Bank branch in Koramangala to load ATMs across the city. On January 19, company officer Mithun assigned the task to a group of employees, including Praveen, Dhanashekar, Ramakka, Harish Kumar, Praveen Kumar and Varun.
The employees were divided into two teams. One team was handed ₹80,49,800, while the other received ₹57,96,400, taking the total amount to over ₹1.3 crore. However, instead of depositing the cash into ATMs as instructed, both teams allegedly disappeared with the money.
Police said the employees failed to report back after collecting the cash, raising suspicion of a planned internal fraud. Following this, Mithun filed a formal complaint at the Koramangala Police Station.
The case has drawn comparisons to the CMS robbery registered in November 2025, where CMS vehicles were looted in a well-planned operation involving former employees. That case, involving nearly ₹11 crore across multiple locations, had caused nationwide concern due to the daylight execution of the robbery.
In the present case, police have registered an FIR and launched an intensive search for the accused employees. Investigators suspect the crime was pre-planned and are examining internal procedures of cash handling companies.
Authorities say further action will follow once the suspects are traced.
