Do not trust any incoming phone calls or mails that ask you to install any file or programme, warns Niranjan Upadhye, general manager-fraud risk management, Worldline India.
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
'Queen's mural is going to stay here for years and years to come.'
Frauds can have immediate impact on the banks' financials and can also cause a systemic risk in extreme cases
Prompt measures and legal actions taken by the Indian government and PNB helped in securing the extradition of diamantaire Nirav Modi by the UK on Friday, a senior official said. UK Home Secretary Priti Patel on Friday signed off on the order to extradite Nirav Modi, wanted in India on fraud and money laundering charges related to the estimated USD 2-billion Punjab National Bank (PNB) scam case. According to the government official, a scam of this magnitude had potential to create instability in the financial sector but the deft handling saved the entire public sector banking space from the crisis and litigation.
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
It further said that the loan application form should be suitably modified to incorporate passport details of borrowers.
Kapoor has told the Enforcement Directorate that he was 'forced' to buy the M F Husain painting from Priyanka Gandhi and the sale proceeds were utilised by the Gandhi family for the medical treatment of Congress president Sonia Gandhi in New York, according to the charge sheet filed by the federal anti-money laundering agency in a special court in Mumbai.
Customers taking small and convenient steps and some degree of care and precaution while paying digitally will ensure safety and security from new threats that emerge every day, says Avinash Luthria
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
Fraudsters duplicate SIM cards to hack into bank accounts.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes. Indians actually invest a great deal more in forex-denominated trades, observes Devangshu Dutta, explaining why it is impossible to ban cryptocurrency.
Taking bank lottery scam to a new level, scamsters are using the name and picture of RBI chief Raghuram Rajan to lure gullible people into making a cash deposit of Rs 15,500 to get a winning amount of Rs 5.50 crore.
'E-commerce scams are not new, but what s more alarming is the covert cyber warfare the Chinese entities are launching in India on a repeated basis.'
Do not share your passwords or personal information with anyone.
Making an additional authentication pass code while using credit cards will go a long way in making your shopping experience stress-free.
A high-level three-member committee is formed to grow awareness about fraudulent job offers.
Before inserting your card, always check for any signs of tampering on the ATM machine, warns Aditya Shankar.
In the past, there have been instances of people getting fake e-mails in the name of RBI.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
Handle cards like you would handle cash.
Professionals with sharp technical skills and knowledge of emerging markets will continue to be in demand, says Nikhil Barshikar, founder and CEO of Imarticus Learning, a tech learning and training company.
Besides Joseph, one of the lawyers defending Michel is a member of the Congress' youth wing while the father of another is a party member, Patra claimed at a press conference.
Indians are more vulnerable to technology support-related scams compared to the global average, and lost over Rs 15,000 on average in such scam, a Microsoft research has found. According to the 2021 Global Tech Support Scam Research report, which looks at tech support scams and their impact, consumers in India experienced a relatively high scam encounter rate of 69 per cent during the past 12 months, close to the 70 per cent rate experienced in 2018. In contrast, there was an overall five-point drop in scam encounters globally with a rate of 59 per cent over the same period. The survey was conducted in Spring 2021 and asked consumers to share their experiences with tech support scams for the year prior (January 2020 to present).
It analyses 50-100 alerts a day.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
Risks are increasing with 55 times increase in such transactions over the past three years, says a Assocham-PwC report
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
'One cannot avoid speculating whether there was something else at play that led to the uncovering of this saga.'
Credit card thieves are getting smarter with the help of sophisticated machines and cameras. But have you become smarter and more cautious?
Did leading media outlets BBC, Australian TV, NDTV, Indian Express and Tehelka fall for a fraudster variously posing as political analyst and strategic expert on Assam?
Tata Motors, Mahindra & Mahindra and Bajaj Auto have noted a rise in these incidents.
#MainBhiChowkidar was trending world wide on Twitter.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Consumer loans or personal continue to record the highest fraud incidence.
'There is much scope for ingenuity and inventiveness, and the stakes are very high.'
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
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