Police in Rajasthan have arrested 38 individuals involved in a nationwide cyber fraud network, unearthing scams worth over Rs 10 crore under 'Operation Mule Hunt'. The accused operated from various locations, including Dubai, and lured victims through investment, trading, and escort service schemes.
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
The Enforcement Directorate (ED) is investigating the use of foreign debit cards by a global Christian mission to withdraw crores of rupees in Naxal violence-hit regions of India. Searches were conducted in multiple states, and foreign debit cards, cash, and digital devices were seized.
Andhra Pradesh MLA C Balaraju lost 12 lakh after clicking on a malicious APK file, leading to a police investigation into a potential organised cyber fraud gang.
Four individuals have been arrested for allegedly running a sophisticated cyber fraud operation, duping people with fake discounted air tickets across multiple cities. Police recovered a substantial amount of cash and luxury items from the accused.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
Congress leader Rahul Gandhi has accused Assam Chief Minister Himanta Biswa Sarma of corruption and land grabbing, promising action if the Congress party wins the upcoming elections in Assam. Gandhi also criticised the BJP's governance and economic policies.
Bihar Police arrested 141 people in a state-wide crackdown on mule bank account networks allegedly used for cyber fraud. The operation, 'Cyber Prahar 2.0', led to the registration of 86 FIRs and uncovered collusion by bank employees.
Gurugram police arrested three men, including an IIT student, for allegedly working with foreign-based cyber fraudsters, providing bank accounts and handling transactions for a commission.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Senior TMC leader Abhishek Banerjee criticised the Modi government's economic policies, citing rising prices and hardships caused by demonetisation and lockdown measures during an election rally in West Bengal.
Delhi Police have arrested four individuals for allegedly operating an illegal online cricket betting racket with connections to Dubai from Paschim Vihar.
Three individuals have been arrested in Shivamogga, Karnataka, in connection with a nationwide cyber fraud operation involving over Rs 82 crore and 352 registered complaints.
Delhi Police have arrested 11 individuals involved in a cyber fraud racket operating from Delhi and Mumbai, which allegedly defrauded a senior citizen of over Rs 22 lakh with promises of high investment returns. The network is linked to international operators in Cambodia.
Jaipur police arrested seven individuals and detained two minors for allegedly defrauding people through online gaming scams, luring victims with promises of cash prizes.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Kerala Police arrested 165 people and registered 455 cases in a statewide operation targeting cyber financial fraud, confiscating devices and disrupting criminal networks.
A 64-year-old man from Thane was allegedly defrauded of 1.56 crore by cybercriminals using a 'digital arrest' scam, involving forged documents and constant surveillance.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
Unidentified men posing as central government officials intercepted a cash van in Bengaluru and allegedly fled with about Rs 7 crore. Police are investigating the incident and have formed teams to hunt for the suspects.
After private banks - HDFC Bank and Axis bank - decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon.
Authorities in Kashmir have initiated a profiling process of mosques, madrassas, and individuals associated with their management following the exposure of a 'white collar' terror module. The enumeration drive focuses on the finances of these institutions and the backgrounds of their personnel.
The government informed Lok Sabha that security forces have neutralised 29 top Naxal leaders since 2019, with a significant reduction in affected districts.
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
Bengaluru police have arrested three people, including a police constable, in connection with the Rs 7.11 crore robbery in the city. A significant portion of the stolen money has been recovered, and efforts are underway to apprehend the remaining suspects.
More people are now comfortable using their debit cards.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Many customers have had to deal with printouts saying 'transaction declined.' Customers using their own banks' ATMs did not, however, face similar problems. Transactions on a bank's home ATM network are processed through a different switching system, while inter-bank transactions go to NFS, the country's largest domestic network for authentication and routing payment details of various e-commerce transactions and e-government activities.
At other bank ATMs, the customers of these banks will be charged beyond three transactions.
Even as State Bank of India, the country's largest lender, has decided to charge its customers for more than five transactions through automated teller machines (ATMs), private sectors banks continue to be on a wait-and-watch mode.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes in mind.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
Police on Monday detained a close associate of cleric and Ittehad-e-Millat Council chief Tauqeer Raza Khan in connection with the recent violence in Bareilly during a protest in support of the 'I Love Muhammad' campaign, officials said.
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