Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
Cyber fraudsters posing as Delhi ATS and Jammu & Kashmir police personnel cheated an elderly woman from Mumbai of Rs 22 lakh after accusing her of spying for Pakistan, officials said on Wednesday.
Delhi Police have arrested a Nigerian national for allegedly defrauding a Rohini resident of Rs 65,700 through an online scam involving a fake foreign traveller persona.
The caller told the victim that a bank account linked to his mobile number had allegedly received Rs 7 crore through money laundering activities and warned that he would be arrested in the case.
The Union finance ministry will meet CEOs of public sector banks to discuss issues related to cybersecurity in the wake of the Rs 820 crore (Rs 8.2 billion) fraud that hit Kolkata-based UCO Bank last month.
17-year-old Tejasvi Manoj becomes TIME's Kid of the Year 2025 for protecting seniors from cyber fraud.
Bangalore police may seek Interpol help to solve the crime.
The growing caution among hospitals is being driven by a rise in double-extortion ransomware attacks, AI-enabled phishing, deepfake fraud, and vulnerabilities in connected medical devices.
The accused had links with six persons, arrested on November 3 from Morbi, Surendranagar, Surat and Amreli districts, for allegedly routing Rs 200 crore to Dubai-based cybercriminals using nearly 100 mule accounts, the release said.
Meta has announced new anti-scam features and awareness initiatives, including safety tools and tips to protect users, particularly senior citizens from cyber fraud and online scams, as the social media giant stepped up efforts to help people stay safe online.
'A mule operates someone else's account to transfer illegal money.'
Following the 'dog babu' incident, another canine application for a residence certificate has surfaced in Nawada, Bihar. An FIR has been registered for the attempt.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
A woman in Gurugram literally took a cab driver for a ride when she refused to pay the fare after an hours-long drive and threatened him with police action, authorities said.
A new cyber fraud known as 'pig butchering scam' or 'investment scam' has emerged, targeting unemployed youths, housewives, students, and needy people who are made to lose large sums of money daily, according to the latest annual report of the Union home ministry.
Airtel CEO Gopal Vittal on Thursday warned about a rise in cyber frauds amid a massive surge in online transactions during the second wave of the pandemic, and asserted the company is working "relentlessly" and coming out with safety features to ensure customers are not vulnerable to fraudsters. In an e-mail outreach to customers, Vittal highlighted the modus operandi being adopted by fraudsters and also drew attention to cyber frauds related to digital payments. "With the growing second wave of the pandemic and lockdowns in various parts of the country, there has been a massive increase in online transactions. "Unfortunately, there has also been a corresponding increase in cyber fraud," Vittal said.
Senior citizens are particularly vulnerable due to their high savings, trust in authorities, and limited familiarity with online frauds.
With the Department of Telecom asking mobile phone makers to pre-install Sanchar Saathi application in new handsets, Congress leader Priyanka Gandhi Vadra on Tuesday described it as a 'snooping app' and alleged that the government is turning the country into a dictatorship.
The Securities and Exchange Board of India (Sebi) has identified around Rs 77,800 crore as "difficult-to-recover" or DTR dues in its annual report for 2024-25 (FY26), marking a nearly 2 per cent increase from the previous year. These dues remain unrecovered despite exhaustive recovery efforts.
A family in Noida was duped of over Rs 1 crore after they were kept under 'digital arrest' for five days by unknown people posing as government officials. The scammers threatened the family with arrest by making video calls and claiming to be investigating money laundering and other crimes. This is a new type of cyber fraud where the accused pose as law enforcement agency officials and use video calls to intimidate their victims.
'Look at what kind of sites the child is visiting, what kind of games they are playing and then tell them about the pitfalls.' 'After the child sleeps, parents can check the history of sites visited and block sites that could be dangerous or inappropriate.'
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
A retired banker in Delhi lost his entire life savings, amounting to Rs 23 crore, to cyber fraudsters who posed as ED and CBI officers. The victim was kept under 'digital arrest' for over a month and forced to transfer funds under duress.
Former IPS officer Amar Singh Chahal allegedly shot himself after claiming he was duped of Rs 8.10 crore by cyber thugs. He was one of the accused in the 2015 police firing cases related to anti-sacrilege protests in Faridkot.
The Reserve Bank on Thursday affirmed its commitment to continue with its supervisory measures aimed at early identification of risks and vulnerabilities. The central bank would also focus on enhancing cyber resilience and capabilities of Supervised Entities (SEs) by implementing the recommendations of the inter-regulatory Working Group, which has uniform baseline cybersecurity guidelines for financial entities, it said in its annual report.
Users should be aware of "fake emails" sent in the garb of a government e-notice, said the Indian Cyber Crime Coordination Centre (I4C) in a public advertisement.
'Big Week For #USIndia Law Enforcement Collaboration'
The government on Wednesday withdrew the order mandating pre-installation of cyber security app Sanchar Saathi on smartphones by manufacturers.
The Supreme Court has restrained lower courts from releasing the accused in a digital arrest fraud case where a 72-year-old lawyer was duped of Rs 3.29 crore. The court expressed concern over the growing cybercrime and the targeting of elderly citizens.
Pune police have arrested a Telangana-based electronics engineer for an alleged online fraud with a private university of Rs 2.46 crore.
The Supreme Court has expressed serious concern over the rising cases of digital arrest cybercrime in India, where fraudsters extort money from victims by posing as law enforcement officials. The court has vowed to deal with such cases with an iron hand and has sought reports from the Ministry of Home Affairs and the CBI.
As the RBI moves ahead for the launch of the central bank digital currency (CBDC), Governor Shaktikanta Das on Wednesday marked out cyber security and digital frauds as the main challenges in the new system. Deputy Governor T Rabi Sankar said there are two types of CBDCs - wholesale and retail - and a lot of work has happened in the former while the latter was termed as a "complicated" aspect which will take time. The RBI had earlier this year announced that it has started work on the CBDC, in line with other major central banks of the world which are looking at a fiat digital currency.
According to the direction dated November 28, all mobile phones that will be manufactured in India or imported after 90 days from the date of issuing of the order will need to have the app.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
With the arrest of one person from Noida, the cyber cell of Uttar Pradesh police on Wednesday claimed to have busted an online fraud nexus worth Rs 3,000 crore with links in China.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
The ministry of home affairs (MHA) has sent a high-level team to Ayodhya to deal with cyber threats ahead of the inauguration of the Ram Temple in the historical town on January 22.
The Supreme Court is considering entrusting the CBI with the investigation into digital arrest cases, citing the magnitude and pan-India spread of such crimes. The court has sought details of FIRs registered in different states and union territories and is monitoring the progress of the investigation.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
