The challenge before the management is ensuring simultaneous disclosure of key information to stock exchanges and investigating agencies.
Handle cards like you would handle cash.
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
Credit Vidya helps lenders assess credit and fraud risk for thin-file and new-to-credit customers.
Risks are increasing with 55 times increase in such transactions over the past three years, says a Assocham-PwC report
It is up to the bank management to decide which application gets to interact with the CBS
Fraud is a big concern among many board members.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
The findings revealed the biggest threat to firms comes from within.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
rediffGURU Kanchan Rai, founder, Let Us Talk, offers advice on how to navigate life's problems.
About 40 per cent of respondents felt fraud had gone up in India, while 67 per cent said the new Act would improve governance.
As the number of students seeking higher education abroad continues to rise, several countries are implementing new rules. Gaurav Batra, CEO and founder of Infinite Group highlights how these changes will impact Indians who are planning to study abroad.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Scammers and fraudsters keep coming up with creative ways to gain access to sensitive information and only by being alert and aware of such attempts can data privacy be truly maintained.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
38 auditors resigned in 2022-23, compared with 46 the previous year.
'India's emergence as a top crypto market comes despite a regulatory and tax environment that can be challenging for the industry to navigate.'
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Most of the legal cases in the UK are switching to videolink and telephonic options where possible, with all new jury trials suspended amid the social distancing rules in place to combat the COVID-19 pandemic.
Around 41 per cent of these companies saw such instances, compared to the global average of 29 per cent. India's number is higher than other countries such as the United States (26 per cent), the United Kingdom (32 per cent) and Japan (27 per cent). It is also worse than other emerging markets. China had 39 per cent of firms affected by data theft. It was 19 per cent and 16 per cent for Brazil and Russia, respectively.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
One must be extremely cautious while shopping with a credit card.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Even virtual world gaming is starting to suffer from real-world problems -- theft of identity and virtual assets, extortion and terrorism.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
Independent directors were supposed to safeguard the interest of all stakeholders.
Housing finance company (HFC) PNB Housing is planning to focus on reducing delinquencies in 2023-24.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
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