Customers will qualify for compensation even if they mistakenly share the OTP.
Sebi Chairman Tuhin Kanta Pandey announced intensified surveillance and technology-driven enforcement to combat pre-investment scams targeting retail investors, who are increasingly being lured by fake trading apps and promises of high returns.
Mumbai police have arrested six individuals from Gujarat, dismantling an interstate cyber fraud gang involved in digital arrest scams, including one where a businessman was defrauded of Rs 58 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.
A man was arrested in Gujarat for allegedly receiving a significant portion of Rs 3.71 crore siphoned off from a Mumbai woman in a 'digital arrest' scam. The cybercriminals impersonated law enforcement and court officials, staging a fake online hearing to deceive the victim.
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.
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.
The missive has, however, polarised stakeholders, with mobile operators under COAI coming out in its support, while digital platforms under the aegis of Broadband India Forum expressing "serious concerns" around overreach and calling for a pause in implementation of timelines.
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.
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.
An 83-year-old Pune resident died of a heart attack after being defrauded of Rs 1.2 crore in a 'digital arrest' scam. Fraudsters posing as police and CBI personnel targeted the man and his wife, threatening them with arrest in a money laundering case.
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.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
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 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.
Symantec said most of these fake accounts followed a specific pattern.
Gaming and cyber security experts suggest how kids and parents can stay aware to fight the growing threats and miscreants who act from behind the screen.
In an age where personal data is a valuable commodity, investing in cyber insurance is not just a prudent choice; it is becoming a necessity for individuals and families alike, says T A Ramalingam.
17-year-old Tejasvi Manoj becomes TIME's Kid of the Year 2025 for protecting seniors from cyber fraud.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
The accused, who duped the woman of Rs 6.60 lakh during the ordeal between September 5 and 8, continued to send messages even after her death on September 8.
The number of digital financial frauds rose more than four times in FY24 year-on-year to comprise 80 per cent of all financial frauds.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
The advisory depicted the logos of social media platforms like WhatsApp and Skype to showcase that calls for such scams are made using such platforms.
The victim, who had a keen interest in stock market investments, was lured by fraudsters with promises of hefty returns on investments in stocks.
Police have arrested three persons from Mumbai, including a woman, for allegedly trafficking a man from Chhattisgarh's Durg district for 'cyber slavery' in Laos in southeast Asia and cheating him of Rs 2 lakh, an official said on Wednesday.
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
October looks bright with a lot of festive season releases on OTT.
'Big Week For #USIndia Law Enforcement Collaboration'
The Delhi Police Special Cell arrested a man from Hyderabad for allegedly trafficking Indian youths and forcing them to work in fake call centres engaging in cyber fraud. The arrest came after a 2,500-kilometre non-stop chase, an officer said. The accused, Kamran Haider alias Zaidi, carried a reward of Rs 2 lakh on information leading to his arrest, declared by the National Investigation Agency. Zaidi was apprehended near Nampally Railway Station, Hyderabad, Telangana while trying to escape to another hideout.
In the month of May, the victim got a call from a person identifying himself as telecom department staffer Amit Kumar, who told her a SIM card had been bought with her personal details for use in criminal activities.
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.
We propose an expert group be set up to form a national strategy on digital fraud. This group would bring together skills in financial regulation, security economics, cyber defence, and public communications, and an understanding of the Indian financial and security systems. It should lay the foundations of a coordinated approach by the Indian State in fighting digital fraud, suggest Ajay Shah and Nandkumar Saravade.
A single security lapse could lead to complete wipe out of your crypto assets in seconds, with no recovery in sight, warns Nikhil Sethi.
India is among countries at the highest risk from cyber vulnerabilities caused by a new generation of GenAI technologies.
Hackers use their best schemes during holidays to steal people's money, credit card or net-banking information.
The police took action after cyber patrolling revealed that 60 fake lottery apps, 25 fake Facebook profiles and 20 websites are connected to the scam, the SPMC release said.
A 39-year-old software engineer in Bengaluru lost Rs 11.8 crore to fraudsters who impersonated police officials and claimed his Aadhaar card was being misused for money laundering. The victim was threatened with "digital arrest" and tricked into transferring money to various bank accounts over a period of time, believing his family would be arrested if he didn't comply. The fraud occurred between November 25 and December 12, and police have registered a case under the IT Act and relevant sections of the Bharatiya Nyaya Sanhita (BNS) for cheating and cheating by impersonation. Further investigation is underway.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
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