Addressing both the Houses of Parliament assembled together in the Lok Sabha chamber, Murmu said the government has taken numerous measures to control these cyber threats, creating opportunities for employment in the field of cybersecurity for the youth.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
Former IPS officer Amar Singh Chahal allegedly shot himself after claiming he was duped of Rs 8.10 crore by cyber thugs. He was one of the accused in the 2015 police firing cases related to anti-sacrilege protests in Faridkot.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
Days after his ministry told smartphone makers to preload a state-run cybersecurity app on all new devices, Communications Minister Jyotiraditya Scindia on Tuesday said users are free to delete the Sanchar Saathi app, and it will remain dormant till they register on it.
'A mule operates someone else's account to transfer illegal money.'
According to the direction dated November 28, all mobile phones that will be manufactured in India or imported after 90 days from the date of issuing of the order will need to have the app.
Across all sectors, the future of work depends on adaptability.
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.
Bajaj Finserv - the holding company of Bajaj group's financial services business - has laid out plans for the next five years. During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 21,000-24,000 crore on a consolidated basis.
AI means 'All Inclusive' for India, asserted Prime Minister Narendra Modi on Thursday while stressing that India Stack is a beacon of hope for the world, especially for countries in the Global South.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
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.
'By quick, fast, and just awards, the insurance ombudsman can bring the trust of the policyholders in the insurance system and insurance as a product and create a positive impact on the entire industry.'
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.
'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.'
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
17-year-old Tejasvi Manoj becomes TIME's Kid of the Year 2025 for protecting seniors from cyber fraud.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
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.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
Finance Minister Nirmala Sitharaman on Tuesday launched the foreign currency settlement system in GIFT IFSC, which will facilitate seamless transactions on real-time basis, enhance liquidity management, and ensure compliance.
'Big Week For #USIndia Law Enforcement Collaboration'
"We did not know that a CBI inquiry was requested on our behalf regarding the Karur tragedy. It has been nine years since my husband Panneerselvam, who had signed the petition, abandoned us," says Sharmila, mother of the 9-year-old boy who had lost his life in the stampede during a political rally addressed by actor-politician Vijay.
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.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
A family in Noida was duped of over Rs 1 crore after they were kept under 'digital arrest' for five days by unknown people posing as government officials. The scammers threatened the family with arrest by making video calls and claiming to be investigating money laundering and other crimes. This is a new type of cyber fraud where the accused pose as law enforcement agency officials and use video calls to intimidate their victims.
The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
Knowledge workers and mid-career professionals in India are hopeful that artificial intelligence will positively impact their roles, even as concerns about job displacement persist, especially among younger professionals, a top official of a human capital management solutions provider has said. At a time when AI has become a critical part of an organisation's functioning, many professionals see the positive possibilities of AI.
Female students alleged that Saraswati used abusive language, sent obscene messages, and made unwanted physical advances.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
The fundamental responsibility for preventing such crimes and for bringing the criminals to justice rests with the State, and it cannot abdicate that function.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
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.
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
'In this age of competition, we will not survive long if we do not provide quality service to our consumers'
The Congress party has launched a web portal where people can register to demand accountability from the Election Commission over alleged vote rigging, following Rahul Gandhi's claims of 'vote chori'.
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