Twinkle Arora, a native of Faridabad, who worked with an IT firm himself, used to target software employees living in hostels and steal their wallets and phones.
He would then call the customer care service of banks concerned to obtain the passwords by giving the details found on phone and in the wallet, Inspector Shashank Reddy said.
"He was arrested yesterday in connection with two cases where he had withdrawn around Rs 1.22 lakh from ATMs," the police officer said.