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.
Link your UPI app to a separate bank account or wallet that has only a limited sum.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
Markets regulator Sebi board on Wednesday approved a series of measures aimed at improving investor convenience, easing compliance norms, and deepening participation in the capital and debt markets.
The Lucknow police have uncovered a cheating racket that mimicked the style of exam fraud seen in the first Munnabhai film, where real candidates were replaced by professional impersonators to sit for competitive exams.
RBI said a total of 8,707 frauds involving Rs 1 lakh and above were detected during 2019-20 involving an amount of Rs 185,644 crore.
Here are five things that fraudsters are likely to say or do that should set the alarm bells ringing in your head.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
Bengaluru police recovered Rs 14 lakh lost by BJP MP's wife in a cyber fraud through 'digital arrest'.
The CBI has arrested Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore after a nearly two-decade manhunt.
The accused, who duped the woman of Rs 6.60 lakh during the ordeal between September 5 and 8, continued to send messages even after her death on September 8.
The Supreme Court on Friday refused to entertain a plea by HDFC Bank CEO and MD Sashidhar Jagdishan challenging an FIR of cheating and fraud registered against him on a complaint by the Lilavati Kirtilal Mehta Medical Trust, which runs the prominent Lilavati Hospital in Mumbai. A bench of Justices P S Narasimha and R Mahadevan noted that the matter was already listed for hearing on July 14 before the Bombay high court.
Several benches of the Bombay high court have recused from hearing HDFC Bank CEO and MD Sashidhar Jagdishan's plea to quash an FIR of cheating and fraud registered against him on a complaint filed by the Lilavati Kirtilal Mehta Medical Trust. While some judges cited having worked with either the Trust or the lawyers appearing for it, one judge on Thursday voluntarily disclosed that he held few shares of the HDFC Bank.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
'Raising the entire amount in one go may not be prudent, given the market dynamics.'
HDFC Bank on Sunday said that it will "pursue all lawful remedies" to recover public funds and address the retaliatory actions taken by the Mehta family of the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has filed a complaint against the bank's managing director (MD) & chief executive officer (CEO) Sashidhar Jagdishan alleging financial fraud.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
Anandu Krishnan, a 26-year-old man, has been arrested for allegedly defrauding people of several crores by promising scooters, sewing machines, home appliances, and laptops at half price using fake CSR funds from major companies. The total fraud is estimated to be around Rs 600-700 crore. Krishnan was operating the scam since 2022 by registering societies and convincing people that he was the National Coordinator of the National NGO Federation and that he had been entrusted with managing the CSR funds of various companies. He collected money through 62 "seed societies" and used his political links to convince the victims. The police are investigating the role of certain political leaders in the fraud.
Apple does not plan to comply with the mandate to preload mobile handsets with the 'Sanchar Saathi' app and will convey its concerns before the Indian government, Reuters reported on Tuesday, citing three unnamed sources.
Absconding diamond jeweller Mehul Choksi has been detained in Belgium following an extradition request by Indian probe agencies for his alleged involvement in the Rs 13,000 crore PNB bank loan 'fraud' case, official sources said Monday. The action against the diamantaire was taken on Saturday.
The average Indian fraudster isn't an outsider exploiting security loopholes. He's usually a man between 26 and 45 years of age, working in operations or procurement, with more than six years at the organisation.
The Supreme Court has restrained lower courts from releasing the accused in a digital arrest fraud case where a 72-year-old lawyer was duped of Rs 3.29 crore. The court expressed concern over the growing cybercrime and the targeting of elderly citizens.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
While UIDAI has given a nod for face authentication, banks need to join the process.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
The new UPI IDs will follow formats such as abc.bkr@validhdfc or xyz.mf@validhdfc. For easier recognition, they will also carry a white 'thumbs up' icon inside a green triangle.
The complaint, filed by businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, claims the incident took place between 2015 and 2023. Kothari alleged that the couple took the money under the pretext of expanding their business but used it for personal expenses instead.
A grocery store owner in Bulandshahr alleges his PAN card was misused to set up six companies in Delhi after receiving an Income Tax notice for sales exceeding Rs 141 crore.
A retired banker in Delhi lost his entire life savings, amounting to Rs 23 crore, to cyber fraudsters who posed as ED and CBI officers. The victim was kept under 'digital arrest' for over a month and forced to transfer funds under duress.
India is working closely with Belgium to extradite fugitive diamantaire Mehul Choksi, who was arrested in Antwerp on Saturday based on a formal request from the Indian government. Choksi is wanted by Indian probe agencies in connection with a Rs 13,500-crore bank loan fraud case involving the Punjab National Bank (PNB). His nephew, Nirav Modi, is also facing extradition proceedings in the UK.
Jaswinder Singh Sekhon, 27, now a Finnish national, used 200 stolen credit card numbers to defraud Wells Fargo Bank of $ 500,000.
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.
Debtor alleges evidence from OCI Ltd shows funds were "round-tripped" to Byju Raveendran despite his earlier sworn statements -- claims Byju's founders strongly reject.
This is the fourth such death reported in the state since the exercise began on November 4, sparking a political blame game.
The victim, who had a keen interest in stock market investments, was lured by fraudsters with promises of hefty returns on investments in stocks.
'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.'
'In this age of competition, we will not survive long if we do not provide quality service to our consumers'
The survey was based on the survey of 44 banks.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
