What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
In 2025 alone, at least 50 suicides linked to online gambling losses have been reported across India. According to FIRs, the victims were addicted to betting, largely driven by cricket, rummy and poker.
In an age where personal data is a valuable commodity, investing in cyber insurance is not just a prudent choice; it is becoming a necessity for individuals and families alike, says T A Ramalingam.
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
The Enforcement Directorate (ED) has seized its biggest-ever cryptocurrency worth Rs 1,646 crore in a money laundering investigation into a fraud investment scheme called BitConnect. The scheme, which ran between 2016 and 2018, promised investors high returns through a proprietary trading bot but was found to be a sham. The ED tracked transactions through the dark web and seized the cryptocurrency from numerous wallets. This is the agency's largest-ever seizure of virtual digital assets and the investigation is ongoing.
The Reserve Bank on Thursday affirmed its commitment to continue with its supervisory measures aimed at early identification of risks and vulnerabilities. The central bank would also focus on enhancing cyber resilience and capabilities of Supervised Entities (SEs) by implementing the recommendations of the inter-regulatory Working Group, which has uniform baseline cybersecurity guidelines for financial entities, it said in its annual report.
Cruelty by the husband (or his relatives) accounted for about 40 per cent of these cases. Delhi reported the highest number of cases of crimes against women (12,552) followed by Mumbai with over 5,000 cases.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
The CBI has significantly increased the rate of fugitive repatriation, bringing back 134 individuals in the last five years, doubling the number from the previous decade. This success is attributed to enhanced diplomatic efforts, technological advancements, and improved coordination with Interpol.
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.
The prosecution has alleged that the victim, also an actor, was induced into a relationship by Khan.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
Companies don't have to be in the field to nudge people to return money they owe lenders.
rediffGURU Dr Ganesh Natarajan tells you how to upskill and upgrade yourself in order to future-proof your career.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
'The protection of secrecy and anonymity gets lost with this linking.'
Over 95 per cent of organisations in India have experienced new types of fraud incidents in the past two years, a PwC Survey said on Tuesday. Following the outbreak of the COVID-19 pandemic, the uncertainties associated with it, subsequent shift to digital operations and remote working, businesses have been exposed to new risks related to digital security, employee safety and disinformation, said the PwC's 'Global Economic Crime and Fraud Survey 2022' report.
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
Indian startups raised a total of $1.65 billion (about Rs 14,418 crore) in funding at a median valuation of $83.2 million in February 2025, according to data from Traxcn. This brings the total funding in FY25 (April-February) to $25.4 billion, spread across 2,200 rounds, the data showed.
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
In addition to educating Delhiites and holding a joint awareness campaign against cyber frauds, Truecaller will also display official numbers of the Delhi police representatives on the app's government directory services.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
Elon Musk's decision to drop the idea of acquiring Twitter over purported under-reporting of fake accounts due to the use of bots has opened a can of worms on what is a growing and crucial problem - advertisers who put in money based on these falsified numbers (which is the mainstay revenue of these platforms) are making losses; they are paying for bots in the guise of viewers. mFilterIt - a global digital and advertising (ad) fraud detection and protection company in India - says search engines like Google have the lowest average ad fraud rate of 10-12 per cent, based on the inference arrived at while working with clients that use these platforms. This means 10-12 per cent of the ad viewership is generated by machines.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
A new law that defines how companies should process users' data came into force with the President giving assent to the Digital Personal Data Protection (DPDP) Act passed by Parliament in the just-concluded monsoon session. The law arms individuals with greater control over their data while allowing companies to transfer users' data abroad for processing, except to nations and territories restricted by the Centre through notification. It also gives the government power to seek information from firms and issue directions to block content.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Delhi Lt Governor V K Saxena has ordered an inquiry against private persons allegedly gathering personal details of women in the name of Mahila Samman Yojana, his office said on Saturday.
...and say bye to the humanities-science divide, says Ajit Balakrishnan.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Some of the celebrities whose names and details were used by the fraudsters are Abhishek Bachchan, Shilpa Shetty, Madhuri Dixit, Emraan Hashmi and Mahendra Singh Dhoni, Deputy Commissioner of Police (DCP) of Shahadra Rohit Meena said.
He said the transformation brought about by the fintech sector in India is not just limited to technology, but its social impact is far-reaching. He also stressed that fintech has dented the parallel economy and is bridging the gap between villages and cities on the financial services front. The prime minister also said that in the last 10 years, the fintech space has attracted investments of more than $31 billion and fintech startups have grown by 500 per cent.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Telecom service providers and the Maha Kumbh Mela administration are on their toes to ensure smooth connectivity at the grand event set to witness record teledensity.
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
