Delhi Police arrested a 30-year-old cyber fraudster from Jharkhand for allegedly duping a Delhi resident of Rs 6 lakh under the guise of KYC verification. The accused, Bimal Rabidas, confessed to the crime and was found to be involved in similar cases across multiple states.
State Bank of India has embarked on a drive to cut the Know Your Customer (KYC) process to a single one across its branches, a top official said on Tuesday.
A 78-year-old woman in Mumbai was defrauded of over 25 lakh after a scammer gained access to her mobile phone under the guise of updating her electricity bill details.
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
Assam police have arrested five individuals for their alleged involvement in an interstate cyber crime syndicate, focusing on SIM card fraud and identity theft.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
Dungarpur Police have arrested three individuals involved in an organized gang allegedly siphoning money from life insurance policies using forged documents, with the fraud involving approximately Rs 58 lakh.
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
'On national security issues, there can be no compromise.'
Haryana's State Vigilance and Anti-Corruption Bureau has filed an FIR to investigate alleged discrepancies involving nearly 150 crore of Panchkula Municipal Corporation funds held in a Kotak Mahindra Bank branch.
An FIR has been filed regarding alleged discrepancies in Panchkula Municipal Corporation's fixed deposit receipts (FDRs) of nearly Rs 150 crore held at a Kotak Mahindra Bank branch, leading to a state-level investigation.
An FIR has been filed regarding alleged discrepancies related to Fixed Deposit Receipts (FDRs) involving nearly Rs 150 crore of Panchkula Municipal Corporation with a Kotak Mahindra Bank branch, leading to a formal investigation.
Customers will qualify for compensation even if they mistakenly share the OTP.
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
The Unique Identification Authority of India has deactivated Aadhaar numbers of over 2.5 crore deceased persons to prevent misuse of the identity document, Parliament was informed on Wednesday.
Security agencies have uncovered a vast network of 'mule accounts' in Jammu and Kashmir used to launder money for global scams, raising concerns about potential links to separatist activities.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Delhi Police have dismantled three multi-state cyber fraud networks involved in online investment scams, fake trading applications, and KYC fraud, leading to the arrest of three key individuals.
A penalty of Rs 91 lakh has been imposed on HDFC Bank for violating certain provisions of the Banking Regulation Act, the Reserve Bank said on Friday. The penalty has been imposed on the private sector lender for deficiencies in statutory and regulatory compliance, including those related to Know Your Customer (KYC).
Moving beyond digital payments, the National Payments Corporation of India (NPCI), the operator of Unified Payments Interface, is planning to add more muscle to the country's digital infrastructure by setting up a fourth subsidiary, NPCI Tech Solutions Ltd (NTSL).
While investments are typically reviewed annually, risk cover is often left unchanged for years.
After a gap of more than three years, the central government has agreed to resume the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) works in West Bengal with immediate effect, but subject to mandatory adherence to stringent conditions. These include a prohibition on any work valued at more than 20 lakh, compulsory 100 per cent electronic know-your-customer (eKYC) verification of all workers, and mandatory pre-estimation field visits for all works before they are undertaken.
The Enforcement Directorate (ED) is investigating a money-laundering case involving over Rs 331 crore deposited in a bank account linked to an illegal betting app. A bike-taxi driver was found to be unknowingly used as a 'mule' to funnel the illicit funds.
The missive has, however, polarised stakeholders, with mobile operators under COAI coming out in its support, while digital platforms under the aegis of Broadband India Forum expressing "serious concerns" around overreach and calling for a pause in implementation of timelines.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
The Delhi High Court has held that profits from cricket betting would constitute "proceeds of crime" under the anti-money laundering law.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
'Clients deemed higher-risk are required to update their KYC more frequently.'
The Opposition in Maharashtra boycotted the government's customary tea party on the eve of the Winter session, citing its failure to appoint leaders of the opposition (LoPs) in both houses of the state legislature.
Mutual fund investors no longer need to link their PAN with Aadhaar to obtain 'KYC-registered' status.
Senior citizens are particularly vulnerable due to their high savings, trust in authorities, and limited familiarity with online frauds.
Fraud reported by banks declined in 2024-2025 to 23,953 as compared to 36,060 in the previous year though the amount involved jumped to Rs 36,014 crore from Rs 12,230 crore.
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.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
India's housing finance sector is riding a wave of post-pandemic revival, driven by policy support, digital innovation, and growing demand from younger homebuyers in emerging cities.
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