A Delhi court has ordered the confiscation of several properties belonging to UK-based arms consultant Sanjay Bhandari under the Fugitive Economic Offenders Act, following his declaration as a fugitive in a money laundering case.
Delhi Police have busted a cyber fraud syndicate involved in duping people through fake stock investments, leading to the arrest of a 24-year-old student.
The Reserve Bank of India (RBI) has introduced its 'Payments Vision 2028' document, outlining initiatives to enhance digital payment security, introduce electronic cheques, and expand regulatory oversight to include e-commerce entities.
The Allahabad High Court has rejected a petition to dismiss a case against a woman accused of defrauding an aspirant of over Rs 22 lakh with false promises of a PhD degree and a university job.
An 82-year-old woman in Thane, Maharashtra, was allegedly defrauded of 73.3 lakh in a 'digital arrest' scam after fraudsters posing as law enforcement officials threatened to implicate her in a fake terror case.
A 64-year-old man from Thane, Maharashtra, was allegedly defrauded of nearly 28,000 in a digital arrest scam involving fraudulent WhatsApp calls and threats.
State Bank of India reported 544 cases of such frauds that caused a loss of Rs 191,295 lakh
The Supreme Court of India will hear a suo motu case concerning victims of digital arrest, a growing form of cybercrime where fraudsters impersonate officials to extort money from victims.
Assam police have arrested five individuals for their alleged involvement in an interstate cyber crime syndicate, focusing on SIM card fraud and identity theft.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
Kochi city cyber police have recovered over 1 crore stolen from an 81-year-old man through a 'digital arrest' online fraud. The incident occurred in November when the man was defrauded of around 1.30 crore. Police intervention led to the recovery of 1.06 crore from a bank in Jammu and Kashmir.
The Anti-Corruption Branch (ACB) has arrested nine individuals linked to coaching institutes in connection with an alleged Rs 37.20-crore scam involving a Delhi government scheme.
Two cyber fraudsters have been arrested for allegedly defrauding a resident of East Delhi of over 20,000 by posing as electricity officials.
Maharashtra witnessed the maximum number of fraud cases relating to credit/debit cards and internet banking in 2012.
The United States Trade Representative (USTR) has expressed concerns that India's Digital Personal Data Protection (DPDP) Act, particularly the lack of a deemed consent mechanism for credit information companies, and the Information Technology (IT) Rules of 2021, along with frequent internet shutdowns, could negatively impact the ability of US companies to operate and trade in India.
Three individuals, including a woman, have been arrested in Maharashtra's Beed district for allegedly defrauding a man of 23.42 lakh by threatening him with 'digital arrest'.
Tina Ambani, wife of Anil Ambani, skipped the Enforcement Directorate (ED) summons for the second time in connection with a money laundering case. Anil Ambani has been asked to appear before the agency as well.
A 75-year-old doctor from Pune was defrauded of Rs 12.31 crore in an online share trading scam after being coerced into making multiple investments by fraudsters.
A 28-year-old man from Ghaziabad has been arrested for allegedly defrauding a Delhi woman of over Rs 1.51 lakh under the guise of a job application scam.
Police in Thane have arrested two individuals involved in a fake marriage scam where a 53-year-old estate agent was cheated out of valuables by a woman posing as his bride.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
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.
As the total number of bank frauds increased from 6,800 in FY19 to more than 13,500 in FY23, the share of private banks in the occurrence went from 34 per cent to 66 per cent.
Fraudsters in Thane, Maharashtra, allegedly duped 11 residents by promising low-cost housing under a government scheme and forging their credentials to open bank accounts for larger financial transactions.
Odisha vigilance officers arrested the parents of a previously arrested banker, along with another individual, for allegedly embezzling Rs 5.56 crore in government funds in the Jajpur district. The accused are Pradip Kumar Mohanty, his wife Gitarani Mohanty, and Bishnu Prasad Dash. The funds were fraudulently diverted over six years.
A Mumbai-based businessman was allegedly duped of Rs 3.25 crore by a nine-member inter-state gang promising high investment returns. The gang also allegedly assaulted and threatened the businessman. Police have registered a case and handed it over to the Mumbai Crime Branch for further investigation.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
The sister of NCP leader Rupali Chakankar was questioned by police regarding her alleged connection to the financial dealings of arrested self-styled godman Ashok Kharat.
Jharkhand CID arrests a man from Bihar for allegedly extorting over Rs 10 lakh from an elderly person through 'digital arrest'.
An Indian-origin couple in the UK has been sentenced for breaching a disqualification order, operating companies despite a ban imposed after tax fraud claims.
The CBI conducted searches at 77 locations across eight states, registering 22 new cases related to a nexus between builders and financial institutions, allegedly defrauding homebuyers.
The number of frauds in the banking sector during the first half of the current financial year has increased substantially to 14,483 cases, although the amount involved is only 14.9 per cent of the previous year's amount, according to a RBI report. The report on Trend and Progress of Banking in India 2022-23, underlined the need to protect the banking system and the payments system from the risks of fraud and data breaches emanating from cyber threats. As many as 14,483 frauds were reported involving an amount of Rs 2,642 crore in the first half of current financial year, as compared to 5,396 cases (Rs 17,685 crore) in the same period a year ago.
A man has been arrested in Rajasthan for his alleged involvement in an illegal Aadhaar enrolment racket, where fake Aadhaar cards were generated using manipulated biometric data.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
A 35-year-old man has been arrested for allegedly defrauding over 500 women across India of more than Rs 2 crore through fake social media and dating app profiles.
Delhi Police have arrested six individuals linked to interstate cybercrime syndicates involved in digital arrest, fake IPO, and trading scams, recovering millions of rupees.
The UK High Court has concluded the hearing for Nirav Modi's application to reopen his extradition appeal, focusing on claims of potential torture during interrogations in India. The court has reserved its judgement.
