The arrested has been identified as Kamal Kant, a graduate, who was working as a site custodian of ATMs of Corporation Bank.
Three incidents of theft have taken place in ATMs of Nangloi and Tarun Enclave. An amount of Rs four lakh and an used car he purchased from stolen money has been recovered.
"The arrest came following investigations into complaints from Corporation Bank," Sanjay Kumar Jain, Deputy Commissioner of Police (Crime), said.
Shortage of Rs 1.83 lakh was noticed in ATMs installed at Nangloi in March and another Rs 3.15 lakh from Tarun Enclave. After the repeated incidents, a complaint was made by Security Advisor of the bank.
During investigations, Jain said, it was found that the seal of ATM was not tampered with, which indicated that it may be the work of some known person.
All employees concerned were examined at length, but no clue was found. CCTV recordings of ATM booths have also been obtained and scrutinized.
"Kant was identified as the suspect. He is an employee of CMS Securities. Earlier the job of cash custodian was assigned to him. His duty was to carry cash in sealed condition from vault of CMS to different ATMs.
"Later on job of site custodian of ATMs was assigned to him. His duty was maintenance and loading of cash in ATMs. For this purpose a particular lock code and key