The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Amitabh Jhunjhunwala, former group managing director of Anil Ambani-led Reliance Communications, has been remanded in 14-day judicial custody in an alleged bank loan fraud case. The CBI alleges misutilisation of loan funds, causing significant losses to a consortium of banks led by SBI.
Mumbai Police have arrested three men from Jharkhand for creating and selling fraudulent APK files used to scam people, particularly during a recent shortage of LPG cylinders.
Delhi Police have arrested two individuals for allegedly defrauding a 25-year-old man of Rs 1.46 lakh through a fake online investment scheme. The accused lured the victim with promises of high returns for completing online tasks.
Two African nationals have been arrested in Delhi for their alleged involvement in an international cyber fraud racket that defrauded victims across multiple states of more than Rs 5 million.
Two individuals have been booked for allegedly defrauding a young man of Rs 20 lakhs under the guise of arranging a student visa for overseas education, according to police reports.
Odisha CID arrests a man from New Delhi for allegedly duping a Bhubaneswar resident of over Rs 2 crore in a cyber fraud case.
Delhi Police have arrested an immigration consultant accused of defrauding a woman of approximately Rs 1.83 crore by falsely promising Canadian immigration through a business investment programme.
Delhi Police have dismantled an interstate cyber fraud network, arresting three individuals involved in digital arrest and investment scams that defrauded victims of over Rs 80 lakh.
The Uttarakhand Special Task Force (STF) has arrested two members of an inter-state organised gang from Jammu and Kashmir for their alleged involvement in cyber fraud.
Delhi Police have arrested two men in connection with separate cyber investment fraud cases involving over Rs 74 lakh. The accused were involved in luring victims into investing in fake stock trading and IPO platforms.
Gurugram police have arrested two individuals, including a director of an infra firm, for allegedly defrauding investors through fake real estate projects linked to Dhirendra Shastri's 'Aparna Ashram' in Silokhera village.
A special CBI court in Ahmedabad convicted eight individuals, including three retired Punjab National Bank (PNB) officials, in a 2016 loan fraud case that resulted in a loss of Rs 1.57 crore to the bank.
The Reserve Bank of India (RBI) has proposed new measures to combat financial fraud in digital payments, including lagged credit for authorised push payments and a 'kill switch' for users to disable all digital transactions.
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
Delhi Police have dismantled a cyber fraud operation that used a fake online investment platform to deceive victims, leading to the arrest of three individuals involved in the scheme.
Gurugram police have arrested two individuals, including a director of an infra firm, for allegedly defrauding investors through fake real estate projects connected to Dhirendra Shastri's 'Aparna Ashram'.
Delhi Police have dismantled a major international cyber fraud syndicate, arresting the alleged mastermind and 10 others. The syndicate is linked to over 2,000 complaints and scams worth over Rs 300 crore, with connections to international cyber fraud operations in Cambodia.
A school teacher in Ajmer was defrauded of Rs 3.66 lakh by cyber criminals who lured her with a fake online offer to buy a rare Rs 5 note for Rs 48 lakh.
Delhi Police have arrested a man suspected of leading an organised ATM fraud gang involved in over 50 cases of cheating. The arrest has resolved at least five cases, with the accused linked to numerous incidents across Delhi.
A Delhi court has sentenced three former officials of a company to four years in jail for defrauding the Industrial Development Bank of India (IDBI). The court emphasised that leniency would undermine the justice system and public confidence in the law.
Gujarat cyber police have arrested 13 individuals allegedly involved in a network responsible for 982 cyber crimes across India, resulting in losses of over Rs 631 crore.
A Delhi court has denied bail to an 18-year-old NEET aspirant accused of involvement in large-scale organised cyber fraud, citing substantial evidence against him and the seriousness of economic offences.
Reliance Group chairman Anil Ambani did not appear before the Enforcement Directorate for questioning in a money laundering case linked to an alleged bank fraud. The ED is investigating loan fraud allegations against multiple Anil Ambani group companies.
An e-service centre operator in Navi Mumbai is accused of defrauding multiple individuals of over Rs 20 lakh by promising business loans under the 'Stand-Up India' scheme and then disappearing after collecting processing fees.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
Uttar Pradesh Police have dismantled an inter-state cyber fraud racket, arresting 19 individuals involved in duping people under the guise of government welfare schemes.
Delhi Police have arrested two men from Gujarat for allegedly defrauding a Delhi resident of Rs 9.75 lakh under the guise of high-return share market investments.
A Delhi court has remanded former senior executives of Reliance Anil Ambani Group (RAAG) to five days of ED custody in connection with an alleged bank loan fraud-linked money laundering case.
Delhi Police have arrested three individuals for their alleged involvement in facilitating a 'digital arrest' fraud racket, which resulted in a Paschim Vihar resident being defrauded of Rs 14.2 lakh.
Aditya Puri is one of the cleanest examples we have, in Indian corporate history, of a leader who understood early that the measure of his work was not what happened while he was in the chair. It was what would keep happening when he was no longer there, says Suresh M K.
Himachal Pradesh is experiencing a significant increase in cyber fraud cases, with hundreds of cases registered and substantial financial losses reported. The state government is taking measures to combat this rise, including establishing cyber help desks and providing specialised training to officers.
Customers will qualify for compensation even if they mistakenly share the OTP.
Rajasthan Police have dismantled a cyber fraud racket operating from a remote island in Dungarpur district, arresting 12 individuals involved in offering fake escort services and scamming victims across the country.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
Card and Internet banking frauds formed 56.5% of all cases in FY25.
The High Court of Justice in London has rejected a fresh bail petition filed by diamantaire Nirav Modi, who is wanted in India in connection with the Rs 13,000 crore Punjab National Bank (PNB) fraud case.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
Police have registered a case against three persons for allegedly cheating a tribal farmer of Rs 50.27 lakh by fraudulently withdrawing part of his land compensation for the Vadhvan Port project in Maharashtra's Palghar district, officials said on Thursday.
The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 34.51 crore in connection with an alleged financial fraud involving the United Services Club in south Mumbai.
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