The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
'It is a tradeoff between convenience and fraud prevention.'
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.
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
The Enforcement Directorate (ED) has approached a special PMLA court in Mumbai seeking a production warrant against Ashok Kharat, a self-styled godman and astrologer, in connection with a money laundering case linked to rape and fraud allegations.
Mumbai Police have arrested a man for allegedly defrauding a senior executive of over Rs 60 lakh under the guise of cryptocurrency investment.
The Enforcement Directorate (ED) has requested a special PMLA court in Mumbai to issue a production warrant against Ashok Kharat, a self-styled godman-cum-astrologer, who is accused of rape and fraud and is currently in police custody in Nashik district, in connection with a money laundering case.
Police in Navi Mumbai have dismantled a fraudulent call centre accused of swindling individuals out of over Rs 1 crore by falsely promising high returns on share market investments. Two individuals have been arrested, and investigations are ongoing.
The London High Court has rejected Nirav Modi's petition to reopen his extradition case, citing the Indian government's assurances regarding his treatment in India as a key factor in their decision.
A family in Thane, Maharashtra, was allegedly defrauded of over Rs 1.66 crore by a man who exploited their fear of black magic, promising divine remedies through rituals and pilgrimages.
Jharkhand Police have arrested the prime accused in a fraudulent withdrawal case from the West Singhbhum treasury, along with three others. The accused manipulated departmental computer data for nearly nine years to divert government funds into their own accounts and those of associates.
A US judge has granted Gautam Adani's request for a hearing to dismiss a US Securities and Exchange Commission (SEC) fraud case, with Adani's legal team arguing the case lacks jurisdiction and credible evidence.
A retired school teacher in Kanpur was allegedly defrauded of Rs 1.57 crore (approximately 150,000) in a sophisticated cyber scam involving impersonations of Mark Zuckerberg and associates of Elon Musk.
Delhi Police have arrested two individuals from Rajasthan for allegedly defrauding a Delhi resident of over 21 lakh through a high-return online investment scam. The accused lured the victim with promises of lucrative returns and prepaid tasks.
Kota police, under the 'Mule Hunter' campaign, have arrested two individuals for allegedly committing online fraud, targeting victims as far away as Murshidabad, West Bengal. The arrests followed an analysis of suspected mule accounts and mobile numbers, revealing fraudulent transactions and prompting charges under the Bharatiya Nyaya Sanhita and the IT Act.
A Delhi court has convicted Congress MLA Rajendra Bharti in a cheating case involving forgery of bank documents and conspiracy to defraud a bank.
Delhi Police have arrested a key accused from Kerala in connection with an interstate investment fraud case involving over Rs 4.5 million. The accused, Jamsheed K, is alleged to have been a 'money handler' in the fraud network.
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.
Chief Justice of India expresses concern over the increasing number of digital arrest scams, highlighting a recent case where an elderly woman was defrauded of her retirement benefits.
A 61-year-old man from Mangaluru was allegedly cheated of Rs 2.07 crore by cyber fraudsters posing as officials of central investigative agencies in a 'digital arrest' scam, police said.
A Delhi court has convicted Congress MLA Rajendra Bharti and a former bank employee in a case involving cheating and forgery of bank records to illegally obtain interest payments.
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
Rajasthan Police have issued an advisory warning citizens about potential cyber fraud attempts disguised as part of the ongoing digital census. Scammers may use various methods, including fake calls, messages, and in-person visits, to steal personal and financial information.
Punjab Police have arrested three members of a cyber fraud gang who used voice-changing software and fake social media profiles to extort money from women by threatening to circulate AI-generated objectionable videos.
Reliance Power clarifies that Amitabh Jhunjhunwala, arrested in a money laundering case, has not been associated with the group since 2019. The case involves alleged bank loan fraud through Reliance Group companies.
A 61-year-old woman from Thane was allegedly cheated of 15.76 lakh by fraudsters who claimed she had a parcel containing valuables arriving from abroad.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
The CBI has arrested three individuals, including an IndusInd Bank assistant manager, in connection with a Rs 1.6 crore "digital arrest" scam. The arrests followed searches in Telangana and Andhra Pradesh.
Delhi Police arrested over 600 people and rounded up over 8,300 suspects during Operation CyHawk 4.0, a large-scale crackdown on cybercrime.
Two men have been arrested in Delhi for allegedly defrauding a resident of Rs 2 lakh through a fake online trading scheme.
A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
Delhi Police arrested over 600 individuals and detained over 8,300 suspects during Operation CyHawk 4.0, a major crackdown on cybercrime. The operation targeted financial networks and call centres involved in online scams, recovering significant digital evidence and tracing defrauded money.
Faridabad police have arrested four individuals from Patna for allegedly defrauding a woman of over Rs 2.5 lakh by promising to take her to England. The accused, who operated three accounts used in the cybercrime, are in police custody and being questioned.
The Supreme Court has expressed serious concerns about the rise in digital fraud, particularly digital arrest scams, and has directed the central government to develop a standard operating procedure to combat these crimes.
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
Delhi Police arrested over 600 individuals and detained more than 8,000 suspects during Operation CyHawk 4.0, a major crackdown on cybercrime.
A senior citizen in Navi Mumbai was allegedly swindled of 64 lakh over four years by cyber fraudsters posing as insurance regulators and grievance officials.
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