The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
The Enforcement Directorate (ED) is investigating a money-laundering case involving over Rs 331 crore deposited in a bank account linked to an illegal betting app. A bike-taxi driver was found to be unknowingly used as a 'mule' to funnel the illicit funds.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
Telangana's anti-narcotics wing, the EAGLE Force, conducted a multi-state operation against a Nigerian drug cartel, resulting in over 50 arrests and the seizure of narcotics worth Rs 3.5 crore.
A man was arrested in Gujarat for allegedly receiving a significant portion of Rs 3.71 crore siphoned off from a Mumbai woman in a 'digital arrest' scam. The cybercriminals impersonated law enforcement and court officials, staging a fake online hearing to deceive the victim.
The Enforcement Directorate (ED) has frozen Rs 110 crore and seized 1,200 mule credit cards following searches against the Indian operations of Parimatch, a Cyprus-based online betting platform, for alleged money laundering and cheating investors.
The Supreme Court has directed the government to raise awareness, compensate, and protect vulnerable individuals who have lost money in cyber scams. The court's remarks came while granting bail to an accused in a cybercrime case, emphasizing the need for public education and cybersecurity awareness.
Mumbai police have arrested six individuals from Gujarat, dismantling an interstate cyber fraud gang involved in digital arrest scams, including one where a businessman was defrauded of Rs 58 crore.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
Five individuals, including an electronic repair shop owner and a DJ operator, have been arrested for allegedly defrauding a 78-year-old Delhi resident of over Rs 2.19 crore through a sophisticated cyber fraud involving impersonation of law enforcement officials and a 'digital arrest'.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
It said that when a retiree, who withdraws amounts in the range of Rs 10,000 or Rs 20,000, suddenly withdraws huge amounts, then the bank should issue an alert.
The Supreme Court has expressed serious concerns about the rise in digital fraud, particularly digital arrest scams, and has directed the central government to develop a standard operating procedure to combat these crimes.
The relation between a regulator and its regulated entities is collaborative and not adversarial with the common objective of maintaining the stability and credibility of the financial system. However, the action on regulated entities like penalties and business restrictions are the last resort, Reserve Bank of India (RBI)'s governor Sanjay Malhotra said on Friday.
The agency also ran a parallel investigation into cyber-slavery and the organised digital exploitation networks in Southeast Asia, with slave compounds in Myanmar and neighbouring areas, that are emerging as incubators for the execution of such frauds.
Delhi Police have dismantled three multi-state cyber fraud networks involved in online investment scams, fake trading applications, and KYC fraud, leading to the arrest of three key individuals.
The Enforcement Directorate (ED) has accused Karnataka Congress MLA K C Veerendra of collecting over Rs 2,000 crore through online betting sites. The agency alleges that Veerendra and his associates used various gateways and fintech service providers to mask their illicit activities.
Gujarat Police arrested an Indian national accused of running an international cyber slavery network operated by Chinese gangs from Myanmar and Cambodia. The accused allegedly supplied Indian workers to scam compounds where they were forced to commit cybercrimes.
Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
The fierce battles of Galwan, Rezang La, Gurung Hill, and Walong taught the PLA a hard lesson: Fighting the Indian Army would never be easy or inexpensive.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
Risk assessment platforms are increasingly using diverse data sources to help lenders identify groups attempting to access credit from regulated entities and to improve the process of evaluating new-to-credit (NTC) users.
Cyber fraudsters have duped Delhi residents of nearly Rs 1,000 crore so far this year, with investment scams, digital arrests and boss scams emerging as the most common cybercrimes.
A hiker has died and hundreds are stranded on the Tibetan slopes of Mt. Everest following a blizzard. Rescue efforts are underway.
Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest in Mumbai, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of Rs 200 crore by 'front-running' in trade activities, the Enforcement Directorate (ED) said on Sunday.
A chargesheet filed by Andhra Pradesh police alleges former Chief Minister YS Jagan Mohan Reddy chaired a meeting related to a new liquor policy under which outlets would be run by a government entity. The chargesheet details alleged kickbacks and money laundering.
Maratha quota movement leader Manoj Jarange is heading to Mumbai to launch a fresh hunger strike, demanding reservation for the Maratha community under the OBC category. He has agreed to meet a government delegation near Pune en route.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
The number of digital financial frauds rose more than four times in FY24 year-on-year to comprise 80 per cent of all financial frauds.
The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
A pet project of the Indian Army, four-legged robotic prototypes have been making waves at the Republic Day and Army Day parades in the past year.
Dr Aniket Mule, consultant, internal medicine, KIMS Hospitals, offers practical advice to protect yourself from mosquitoes and water-borne diseases like malaria, dengue and chikungunya.
At the end of the discussion, the older Monpa said that if today the Chinese were to come inside India, "I will fight and kill them", prudently adding, "if they are of my age, if they are younger soldiers, I will not be able to fight". The entire village had a good laugh.
