Gujarat police arrest a woman allegedly involved in trafficking job aspirants to Myanmar and Thailand for cyber slavery. The accused lured people with promises of high-paying jobs and forced them to work for international cyber crime syndicates.
The co-operative banking sector is well regulated, and a few cases of restrictions being imposed by the Reserve Bank of India (RBI) should not paint a negative picture of the entire sector, said Department of Economic Affairs (DEA) secretary Ajay Seth on Monday. "Co-operative banks in the country are generally quite robust, and the RBI takes regulatory action whenever issues arise.
Pointers for gullible consumers to protect themselves against fraudulent practices that may lead to loss of vital information and money.
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
For online fraud, approach cyber cell and file a complaint.
The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said.
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake".
Apple does not plan to comply with the mandate to preload mobile handsets with the 'Sanchar Saathi' app and will convey its concerns before the Indian government, Reuters reported on Tuesday, citing three unnamed sources.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
The Enforcement Directorate (ED) has earmarked assets worth about Rs 15,000 crore that will be restored to victims of real estate, Ponzi and other frauds across India during the current financial year. The agency has been "aggressively" initiating this provision for restitution since last year to ensure rightful claimants duped by financial crime get their dues. The ED has already restored Rs 31,951 crore worth of assets under this provision, including Rs 15,201.65 crore from 2019-21 in cases related to Vijay Mallya, Nirav Modi and the National Spot Exchange Limited (NSEL). The ED Director has issued directions to all regions to actively work on cases marked for restitution of assets worth Rs 15,000 crore during the financial year 2025-26.
A district-level investigation has named several individuals, including relatives of India cricketer Mohammed Shami.
A phone number and e-mail are often enough for a fraudster to trick a lender into pulling your report and disbursing a loan.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The Lucknow police have uncovered a cheating racket that mimicked the style of exam fraud seen in the first Munnabhai film, where real candidates were replaced by professional impersonators to sit for competitive exams.
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
The Supreme Court has restrained lower courts from releasing the accused in a digital arrest fraud case where a 72-year-old lawyer was duped of Rs 3.29 crore. The court expressed concern over the growing cybercrime and the targeting of elderly citizens.
Bengaluru police recovered Rs 14 lakh lost by BJP MP's wife in a cyber fraud through 'digital arrest'.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, has been arrested in the US based on extradition requests from the Enforcement Directorate and the CBI.
The accused, who duped the woman of Rs 6.60 lakh during the ordeal between September 5 and 8, continued to send messages even after her death on September 8.
Investors will be able to authenticate if the entity receiving the payment is a valid entity under the ambit of Sebi.
Among bank groups, PSBs, which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.
HDFC Bank has denied Lilavati Trust's allegation that the bank's MD and CEO Sashidhar Jagdishan was involved in a series of financial frauds. The allegation levelled by Lilavati Kirtilal Mehta Medical Trust (LKMM Trust), its trustees and officials against the bank's MD and CEO are baseless and malicious, an HDFC Bank's spokesperson said.
The number of digital financial frauds rose more than four times in FY24 year-on-year to comprise 80 per cent of all financial frauds.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
The Securities and Exchange Board of India (Sebi), in a circular dated April 11, 2025, warned investors about rising fraud and manipulation linked to the securities market on social media platforms.
This is the fourth such death reported in the state since the exercise began on November 4, sparking a political blame game.
While UIDAI has given a nod for face authentication, banks need to join the process.
The average Indian fraudster isn't an outsider exploiting security loopholes. He's usually a man between 26 and 45 years of age, working in operations or procurement, with more than six years at the organisation.
Debtor alleges evidence from OCI Ltd shows funds were "round-tripped" to Byju Raveendran despite his earlier sworn statements -- claims Byju's founders strongly reject.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Markets regulator Sebi on Wednesday barred former CEO of IndusInd Bank, Sumant Kathpalia, and four other senior officials from accessing the securities markets in connection with an alleged insider trading in the bank's shares. In addition to the market ban, Sebi has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by the regulator.
The new UPI IDs will follow formats such as abc.bkr@validhdfc or xyz.mf@validhdfc. For easier recognition, they will also carry a white 'thumbs up' icon inside a green triangle.
The CBI has arrested Mani M. Sekhar in a Rs 8 crore bank fraud case from Indore after a nearly two-decade manhunt.
The Supreme Court on Friday refused to entertain a plea by HDFC Bank CEO and MD Sashidhar Jagdishan challenging an FIR of cheating and fraud registered against him on a complaint by the Lilavati Kirtilal Mehta Medical Trust, which runs the prominent Lilavati Hospital in Mumbai. A bench of Justices P S Narasimha and R Mahadevan noted that the matter was already listed for hearing on July 14 before the Bombay high court.
The CBI has filed an FIR against Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly cheating Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officials said on Friday. The banks had sanctioned credit facilities to develop a housing building at the Tech Zone IV in Uttar Pradesh's Greater Noida on a plot measuring 1.06 lakh square metre, the FIR alleged. The company failed to maintain financial discipline following which the account was declared a non-performing asset on March 31, 2017, the complaint from Bank of Maharashtra, now part of the FIR, has alleged, adding that "it has resulted in the loss of over Rs 230.97 crore". Following the FIR, the CBI Thursday conducted searches at four locations in Delhi, Noida and Ghaziabad, they said.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
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