'...A new challenge has emerged in the form of Mythos.'
Delhi Police have arrested three individuals for allegedly defrauding a resident of Rs 15.26 lakh by promising to increase his credit card limit. The fraudsters used mule bank accounts to channel the illicit funds, and police recovered several devices used in the crime.
An attempted burglary occurred at a Punjab National Bank branch in Uchi Bassi village near Dasuya, with the intruder failing to access the main safe but stealing a digital tablet.
LAMF allows investors to access liquidity while staying invested.
The Reserve Bank of India (RBI) has removed the prior approval requirement for non-bank entities to form tie-up arrangements for facilitating outward remittance services through banks in India, aiming to streamline the process and enhance efficiency.
The Enforcement Directorate (ED) has arrested self-styled godman Ashok Kharat, accusing him of systematic extortion and money laundering through a network of bank accounts. Kharat allegedly rotated over Rs 47 crore of ill-gotten money through 60 bank accounts, deceiving devotees by claiming divine powers.
World Bank President Ajay Banga has advocated for the deployment of 'Small AI' locally deployed artificial intelligence running on inexpensive hardware to address daily problems faced by farmers and rural communities in emerging markets.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
The Ram Janmabhoomi Teerth Kshetra Trust secretary, Champat Rai, has declined to provide financial details, including income, expenditure, and donations, citing an ongoing Special Investigation Team (SIT) probe. This decision follows a complaint to the Prime Minister's Office by BJP leader Rajneesh Singh, seeking transparency on the utilisation of funds for the Ram temple project.
'Dark patterns exploit human psychology, cognitive biases, urgency, confusion, or lack of attention to increase revenue for digital platforms at the expense of consumer choice and transparency.'
Recognising the growing use of AI/ML models by regulated entities across business and decision-making processes, the RBI said weaknesses in governance, oversight, risk management, and controls could expose institutions to financial, operational, compliance, and reputational risks.
Market participants are keenly awaiting regular, preferably weekly, updates from the Reserve Bank of India (RBI) on Foreign Currency Non-Resident (Bank), or FCNR (B), deposits, following the central bank's directive for banks to submit daily data on these inflows.
With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
Four individuals, including two bank managers, have been arrested in Telangana for allegedly siphoning off Rs 2.65 crore from a state-owned bank branch in Nalgonda district.
A tribal man in Odisha was forced to carry his sister's exhumed skeleton to a bank to prove her death and withdraw her money, sparking outrage and prompting government intervention.
An IndiGo flight was evacuated at Chandigarh airport after a passenger's power bank caught fire. All passengers and crew were safely evacuated, and no major injuries were reported.
A tribal man in Odisha was forced to carry his sister's exhumed skeleton to a bank to withdraw her money, sparking widespread condemnation. The bank claims it only requested valid documents, but the incident has raised questions about the treatment of vulnerable customers.
Gurugram Police have arrested two former bank employees for allegedly fraudulently obtaining loans by accessing data of pre-approved accounts.
The move is to strengthen oversight, improve compliance, and boost patient confidence.
Police in Meerut have arrested two individuals for allegedly running a fake Common Service Centre (CSC) to open fraudulent bank accounts using forged documents of unsuspecting, needy people. The accused used these accounts for online financial frauds, leading to the recovery of numerous fake IDs, bank cards, and other incriminating evidence.
The first thing cardholders should do after spotting a suspicious charge is block the card.
Ayodhya Police conducted simultaneous raids at the residences of eight individuals arrested in connection with the alleged embezzlement of donations at the Ram Temple. The raids followed their remand to judicial custody, with police expected to seek custodial remand. The accused were involved in counting donations, and investigators have recovered Rs 79.85 lakh so far in a case registered under various sections including the Prevention of Corruption Act.
'AIS helps taxpayers check whether all income streams and reportable transactions -- such as interest from old bank accounts, small dividend receipts or transactions across multiple brokers -- have been properly disclosed.' 'Mismatches between these transactions and declared income may trigger automated notices or scrutiny.'
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model and its potential threat to financial systems' data security.
A tribal man in Odisha's Keonjhar district brought the skeleton of his dead sister to a bank to withdraw money deposited in her name after bank officials insisted on the account holder's presence.
Maharashtra BJP MLC Pravin Darekar announced the launch of 'Devabhau' and 'Chhava' cooperative taxi services in Mumbai, aiming to counter private aggregators and benefit drivers directly, but the scheme has drawn sharp criticism from social activist Anjali Damania and the Opposition Congress over the proposed use of Mumbai Bank funds and its political branding.
Pakistan's Defence Minister Khawaja Asif has issued a war threat against India, citing water security as a national concern. This comes as Pakistan grapples with a severe internal water crisis, attributed by experts to mismanagement, and India maintains its suspension of the Indus Waters Treaty following a terror attack. Asif accused India of "weaponising water" but admitted to lacking current data on the situation.
Finance Minister Nirmala Sitharaman convened a high-level meeting with bank heads to assess cybersecurity risks linked to advanced AI models, following concerns over Anthropic's Claude Mythos system and its potential impact on financial data security.
The case for long-term investment in gold, however, remains intact.
A CISF constable in Mumbai became a victim of cyber fraud when his mobile phone was allegedly hacked, leading to Rs 95,668 being siphoned from his bank account. Police have registered an FIR and are investigating the incident, which involved the phone resetting and apps deleting automatically before the unauthorised transaction.
Amitabh Jhunjhunwala, former Managing Director of the Anil Dhirubhai Ambani Group, has been remanded in CBI custody in an alleged bank fraud case involving Reliance Commercial Finance Limited (RCFL) worth Rs 9,280 crore. The CBI alleges misappropriation of loan funds and violations of RBI guidelines, while Jhunjhunwala's lawyers claim he is a scapegoat.
Investors should do thorough due diligence when selecting a platform.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
Assam Police have arrested a cyber fraudster suspected of involvement in multi-state digital crimes. The arrest was made by the Crime Investigation Department's Cyber Police Station, and the suspect is believed to have operated a highly active mule account.
The CBI has filed three chargesheets against former Karnataka minister B Nagendra and his associate Nekkanti Nagaraj for allegedly diverting Rs 89 crore in state government funds intended for Scheduled Tribes.
Bihar Police have arrested four individuals in Muzaffarpur for allegedly operating a network that sold fake question papers for various examinations, including NEET-UG, to aspirants and their parents via social media. The arrests followed information from a previously apprehended associate, Manish Jha, and further investigation is ongoing.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
Five masked gunmen robbed a Bank of Maharashtra branch in Singrauli, Madhya Pradesh, stealing gold and cash worth Rs 5.7 crore. One suspect has been arrested in Bihar.
Students and families must stress test repayment capacity based on Indian salary standards.
