25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
A specialised force with 1,000 personnel to be formed in the state for the same.
The US Justice Department in its three-month long investigation found there were 150,000 cyber victims.
The Reserve Bank of India's retail direct scheme is off to a good start but the central bank itself sees it as an additional avenue and not an alternative to the existing one. Still, a reasonable expectation is to have at least 100,000 investors within a month of it being operational, and that could be well under way, if the latest trend is to sustain. The registration in the retail direct platform has crossed 35,000.
Whether it is the virtual world or the physical one using your credit card with a few precautions go a long way in keeping it safe. Be cautious and do not become a statistic in the growing credit card fraud!
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
The National Stock Exchange (NSE) has made a fresh attempt at settling a regulatory investigation into the misuse of Trading Access Point (TAP) software at the bourse. The Securities and Exchange Board of India (Sebi) rejected a similar application in 2022. "NSE and its employees have filed a consolidated settlement application dated May 4, 2023, with Sebi.
Wedding.con is a watchable show, if only to caution people about the latest scams, notes Deepa Gahlot.
'In restaurants, the waiter takes your card and then comes back with the machine. Don't allow that.' 'Let him come to you with the machine and then enter the card and the PIN yourself.'
Virtually addressing a joint conference of the CVC and the CBI at Kevadia in Gujarat, Modi said no matter how powerful a person may be, stern action should be taken against those who work against the interest of the nation or its people.
The survey was based on the survey of 44 banks.
The most difficult case for the consumer is when your card is cloned and used online.
The asset quality of non-banking financial companies (NBFCs) deteriorated in April-September 2021 (H1FY22) owing to the second wave of the pandemic. Their gross non-performing assets (NPAs) rose to 6.8 per cent in September 2021 from 6 per cent in March 2021. The Reserve Bank of India's (RBI's) annual Trend and Progress report (FY21) said the sector might have to grapple with higher delinquencies as and when policy measures unwound. The pandemic posed significant challenges to NBFCs during the first wave (2020) also.
The global study covered 17 countries.
.jpg)
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.
Protect yourself and minimise such frauds by following these simple rules
These directions on enhancing security of card transactions will come into effect from March 16, 2020, as per the RBI notification.
While it's not difficult to fall prey to card fraud, individuals can protect themselves against losses.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Ramaswamy launched the volley of charges against the former South Carolina governor and US ambassador to the UN in Arizona during the Republican Party's fourth presidential debate, which was attended by just four candidates, the other two being former New Jersey Governor Chris Christie and Florida Governor Ron DeSantis.
Personal data of thousands of people in India has been leaked from a government server which includes their name, mobile number, address and Covid test result, and these information can be accessed through online search.
Rs 2.09 crore (Rs 20.9 million) have been lost by various banks in Tamil Nadu in seven cases reported between April and December 2008. The banks in Rajasthan, Andhra Pradesh and West Bengal have lost Rs 89.93 lakhs (Rs 8.99 million), Rs 64.29 lakhs (Rs 6.42 million) and Rs 35.72 lakhs (Rs 3.57 million) respectively while Kerala and Delhi lost Rs 17.60 (Rs 1.76 million) and Rs 10.90 lakhs (Rs 1.09 million) respectively owing to cyber frauds.
'In plain simple English, these practices amount to a looting of our country's future by some in the business community, in cahoots with some lenders,' says RBI Governor Dr Urjit R Patel.
The Telecommunications Bill, 2023, which was passed by a voice vote after a short debate, also allows the Centre to take possession of a telecom network in case of any public emergency or in the interest of public safety.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
For online fraud, approach cyber cell and file a complaint.
Post your financial planning queries for rediffGURU and financial planning expert, Colonel Sanjeev Govila.
In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs.
Don't reveal any information to strangers.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said.
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.
Reserve Bank of India on Friday said it has imposed a penalty of Rs 93 lakh on Axis Bank for various violations, including those related to KYC guidelines. The central bank has also slapped a fine of Rs 90 lakh on IDBI Bank. A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release.
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.
The PwC survey found more than 50 per cent respondents reporting lack of adequate skill sets
The size of the Indian financial services market could touch around $340 billion in the next few years.
Govt steps up security to check criminals seeking bank details of taxpayers
The department has warned taxpayers that illegal 'mobile applications' circulating in the webworld for smartphones, especially Android and BlackBerry phones, 'may not be according to the department's data structure' and parameters.
The Jammu and Kashmir Police recently arrested five suspected "white-collar jihadis" who were behind a campaign to spread falsehood about the sovereignty of the country.
'The major worry for everyone using Internet-linked devices today is whether the latest download on his smartphone or laptop is a bait from a digital hacker who is out to secure access to his hard-earned money,' notes T A Ramalingam, chief technical officer, Bajaj Allianz General Insurance.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances