RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
This was reflected in India Inc's lackadaisical attitude towards sensitising employees on fraud prevention.
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
Credit Vidya helps lenders assess credit and fraud risk for thin-file and new-to-credit customers.
Employees of the beleaguered Satyam Computer Services are now finding it difficult to get personal loans or pay back equated monthly instalments. Even their credit card limits have been reduced by almost 80 per cent since banks have become stringent following reports of the severe cash crunch at Satyam on the back of the admission of a financial fraud by the former company chairman Ramalinga Raju.
Companies don't have to be in the field to nudge people to return money they owe lenders.
For online fraud, approach cyber cell and file a complaint.
Abdul Samad Mohamed Raik was convicted for cloning more than 500 credit cards to steal 175,000 in a fraud allegedly driven by links to a Sri Lankan guerilla group.
In case the third party fraud is reported after a delay of four to seven working days, the customer will face liability of up to Rs 25,000.
Advisors and agents known to you personally can also sell wrong policies.
While some of the banks mentioned in the report said they have not come across any such fake apps, others have started an inquiry and also informed the CERT-In -- the national nodal agency for responding to computer security incident.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
Apart from mobile apps, 611 websites with the .in domain in the country were also found to be vulnerable, the Trend Micro survey reveals.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
While Visa and Mastercard slug it out for leadership, analysts say RuPay has the potential to cause disruption and eat into their market share.
In 2013, a total of 28,481 Indian websites were hacked
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Maharashtra recorded the highest number of cases in the country under the Indian Penal Code (IPC) in 2021 at 3,67,218, while Mumbai was placed second among major metropolitan cities in registration of criminal offences, according to a National Crime Records Bureau (NCRB) report.
Documents such as PAN card, Aadhaar card, I-T return papers, which are used for KYC, can get leaked from a number of sources. Other prominent sources are the direct sales agents and photocopy shops, say Sanjay Kumar Singh.
Consumer loans or personal continue to record the highest fraud incidence.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
'There has been a marked increase in four types of cases.' 'One is fraud related to online deliveries, online shopping and online groceries and liquor.' 'Second fake news, third hate speech and fourth sextortion.'
This is the time of year to be most on guard against a host of scams, new and old.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Want a stress free vacation? Amar Pandit tells you what you need to keep in mind.
Beware of spot offers and discounts aimed to lure you into binge buying.
Cyber criminals are using apps and young women to trap people through mobile phone calls and video chats.
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According to Websense's cybersecurity predictions for 2015, as mobile apps are using auto-login capability these devices will face more attacks from cyber criminals for more credential-stealing or authentication attacks that can be used at a later date.
With this, India joins 60 other countries that collect PNR details of international passengers.
FIFA said on Wednesday it had fired General Secretary Jerome Valcke, once one of the global soccer body's most powerful figures, amid alleged corruption involving World Cup ticket sales.
Indian companies lost around $53 million (about Rs 328 crore) due to phishing scams with the country facing over 3,750 attacks in July-September this year, making it the fourth most attacked nation globally.
An Indian-origin conman was on Wednesday found guilty of murdering a millionaire oil executive in her central London flat to fund his gambling habits. Rakesh Bhayani from Wembley in north-west London was convicted at the Old Bailey court in London for the murder of Carole Waugh, who had disappeared from her Marylebone flat in May 2012.
While making online purchases, the cardholder will have to use this second verification apart from the card verification value number, which is the main saftey parameter used presently. As per the RBI guidelines, customers will have to register their cards from tomorrow onwards with the respective merchants--Visa or Master Card and create a security password.
The number of cyber crimes in India could touch 3,00,000 in 2015
The Indian financial system's asset quality improved despite the pandemic, but it could be due to special dispensations by the regulator, and banks would likely see increased stress on their books once the schemes expire. According to the annual trend and progress report of the Reserve Bank of India (RBI) released on Tuesday, the data available for this financial year so far indicate that banks' bad debts have moderated while provision coverage ratios (PCRs), capital buffers as well as profitability indicators have improved relative to pre-pandemic levels.
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