The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
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.
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.
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.
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.
The legislator was taken into custody under provisions of the Prevention of Money Laundering Act after he was detained by agency officials from a public meeting he was holding in Malerkotla, they said.
Two cyber fraudsters have been arrested for allegedly defrauding a resident of East Delhi of over 20,000 by posing as electricity officials.
The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
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'.
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.
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.
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.
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.
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.
Manjeet Bawa, 46, of New York and other co-defendants contracted to buy homes in Nassau and Suffolk Counties from innocent sellers at market prices.
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.
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.
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.
The Enforcement Directorate on Thursday conducted simultaneous raids as part of a money laundering investigation linked to an alleged bank loan fraud of Rs 3,000 crore against Anil Ambani group companies and Yes Bank, official sources said.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
In FY24 alone, 1.34 million fraud cases were reported, amounting to losses of Rs 1,087 crore.
Jharkhand CID arrests a man from Bihar for allegedly extorting over Rs 10 lakh from an elderly person through 'digital arrest'.
If convicted, each defendant faces a maximum penalty of 30 years.
The money that was allegedly siphoned by fraudsters from Trinamool Congress MP Kalyan Banerjee's dormant account with a nationalised bank earlier this week has been credited back to him by the bank authorities, the politician said.
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 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.
A couple has been arrested in Greater Noida for allegedly defrauding multiple people by selling the same flat multiple times after mortgaging it to a bank.
The Bengaluru police have launched a probe into a cyber fraud case where hackers allegedly infiltrated the official email communication between city-based Group Pharmaceuticals and Dr Reddy's Laboratories, Hyderabad, successfully diverting a payment of Rs 2.16 crore to a fraudulent account.
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 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.
Cyber intelligence firm CloudSEK reports that online fraudsters are using a new toolkit called 'Digital Lutera' to bypass security features of UPI apps and carry out fraudulent financial transactions.
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
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.
The Economic Offences Wing of Crime Branch in Kashmir conducted searches at multiple locations in Srinagar and Budgam districts concerning the alleged siphoning of government funds during the COVID-19 pandemic.
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.
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.
It adds that banks could be hiding some of the fraud cases, masking these as bad debt
According to the Central Bureau of Investigation, Gutte is one of the directors of Gangakhed Sugar and Energy Limited.
