The Hindu Business Line : Kapol Co-op Bank beefs up internal security

Mumbai, Dec. 9 The Mumbai-based Kapol Co-operative Bank has stepped up internal security system after the arrest of a woman employee for siphoning off Rs 2 crore from the bank.

Additional measures

“Henceforth, all money transfer irrespective of any amount will now need the approval and signature of the manager and assistant manager of the branch,” Mr K.D. Vora, Chairman of The Kapol Co-operative Bank Ltd, said here on Monday.

After the transfer of the application, the bank will communicate via SMS to the account holder to confirm the dealing, Mr Vora told Business Line. “Subsequent to this verification, the amount will be transferred,” he added.

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Kapol Co-op Bank beefs up internal security