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).
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.
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.
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.
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
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.
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.
Two individuals from Hyderabad have been arrested in connection with a 'digital arrest' scam in Belagavi, where an 81-year-old businessman was defrauded of over Rs 15 crore.
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.
Frauds in the Indian banking system more than doubled in value during 2005, touching Rs 1,134.3 crore (11.34 billion) as against Rs 451 crore (Rs 4.51 billion) in the previous year, Lok Sabha was informed on Friday.
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.
The Enforcement Directorate has restored assets worth over 15,000 crore to a Supreme Court-appointed committee for distribution to investors defrauded in the PACL (Pearls Group) Ponzi scheme.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
An FIR has been filed regarding alleged discrepancies in Panchkula Municipal Corporation's fixed deposit receipts (FDRs) of nearly Rs 150 crore held at a Kotak Mahindra Bank branch, leading to a state-level investigation.
Delhi Police arrested a 30-year-old cyber fraudster from Jharkhand for allegedly duping a Delhi resident of Rs 6 lakh under the guise of KYC verification. The accused, Bimal Rabidas, confessed to the crime and was found to be involved in similar cases across multiple states.
The Maharashtra assembly has passed the Freedom of Religion Bill 2026, introducing strict measures to prevent religious conversions through coercion, fraud, or marriage, sparking debate over constitutional rights and religious freedom.
Police in Kochi have arrested three directors of an agri-tourism firm accused of defrauding hundreds of investors of over Rs 100 crore through a fake investment scheme.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
An attempt to secure a bank loan using forged signatures and documents related to the Pilibhit Tiger Reserve has been uncovered, prompting a police investigation.
Punjab Governor Gulab Chand Kataria emphasised the importance of Aadhaar in promoting good governance, transparency, and ease of living, highlighting its role in ensuring welfare benefits reach the intended recipients and strengthening the rural economy through Direct Benefit Transfer.
The Congress party in Maharashtra has accused senior police officials, including an IPS officer, of involvement in a multi-crore bogus call centre racket and is demanding a high-level investigation.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
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.
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.
Police in Dehradun arrested two women from Uzbekistan and one from Kyrgyzstan for allegedly residing in the area with counterfeit Indian identification documents.
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.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
Two young men in Mumbai were defrauded of 23.43 lakh after being promised jobs in the Brihanmumbai Municipal Corporation (BMC). The accused, posing as a BMC employee, assured them of supervisor positions in the water department in exchange for money, providing fake joining letters and identity cards.
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.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
Self-styled godman Ashok Kharat, already facing rape charges, is now under investigation for suspicious financial activities involving numerous accounts and large transactions.
In the latest case, the fraudsters, posing as personnel of the Enforcement Directorate and the Central Bureau of Investigation, contacted the businessmen between August 19 to October 8 and claimed his name had cropped up in a case of money laundering.
Benchmark lending rates unchanged with repo rate at 5.25%
The West Bengal government has filed FIRs against five state government employees for alleged lapses in electoral roll revisions, following an Election Commission ultimatum. The action comes after the EC directed the state to initiate criminal cases against the accused for adding fictitious names to voter lists.
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
CBI officers who supervised investigations into the rape and murder of a doctor in Kolkata and the killing of rationalist Narendra Dabholkar are among those awarded police medals on Republic Day.
In FY24 alone, 1.34 million fraud cases were reported, amounting to losses of Rs 1,087 crore.
A 40-year-old woman has been arrested in Delhi for allegedly defrauding a resident of Rs 20,000 under the guise of arranging a loan through social media. The accused, Satvinder Kaur, was apprehended after a technical investigation revealed her involvement in the scam.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
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.
