Kochi cyber police recovered over 1 crore stolen from an 81-year-old man through a 'digital arrest' online fraud. The police froze the funds in a bank account in Srinagar and returned the money to the victim.
Kochi city cyber police have recovered over 1 crore stolen from an 81-year-old man through a 'digital arrest' online fraud. The incident occurred in November when the man was defrauded of around 1.30 crore. Police intervention led to the recovery of 1.06 crore from a bank in Jammu and Kashmir.
Delhi Police have dismantled a fraudulent call centre in Pitampura, arresting 19 individuals for allegedly defrauding people nationwide by posing as representatives of a finance company offering fake loans and insurance schemes.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
A DRDO employee in New Delhi was defrauded of over Rs 15 lakh in a sophisticated online investment scam involving fake work-from-home tasks and promises of high returns. Police have arrested three individuals from Haryana and Rajasthan who played different roles in facilitating the movement of the illicit funds, with further investigation ongoing.
Delhi Police have arrested two individuals from Rajasthan for allegedly defrauding a Delhi resident of over 21 lakh through a high-return online investment scam. The accused lured the victim with promises of lucrative returns and prepaid tasks.
Streaming has globalised the entertainment industry, enabling artists like Diljit Dosanjh and Arijit Singh to reach diverse international audiences.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
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.
Delhi Police have arrested two individuals for allegedly defrauding a man of approximately Rs 4.35 lakh in an online gas bill booking scam. The victim was tricked into installing a malicious mobile application that allowed the fraudsters to siphon off funds.
The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday. The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
The Uttarakhand Special Task Force has arrested the alleged mastermind of a cheating racket in an SSC recruitment examination from Saharanpur in Uttar Pradesh. The accused, Shubham Bhatnagar, allegedly provided remote access to candidates to solve papers illegally.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
A man impersonating an aide of Congress leader Rahul Gandhi has been arrested in Dehradun for allegedly swindling crores of rupees from ticket-seekers in multiple states.
Senior citizens are particularly vulnerable due to their high savings, trust in authorities, and limited familiarity with online frauds.
The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
The Economic Offences Wing of Crime Branch in Kashmir conducted searches at multiple locations in Srinagar and Budgam districts concerning the alleged siphoning of government funds during the COVID-19 pandemic.
A 40-year-old woman has been arrested in Delhi for allegedly defrauding a resident of Rs 20,000 under the guise of arranging a loan through social media. The accused, Satvinder Kaur, was apprehended after a technical investigation revealed her involvement in the scam.
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
The Central Bureau of Investigation (CBI) has arrested Ayush Varshney, co-founder of Darwin Labs, in connection with the 200 million Gain Bitcoin cryptocurrency scam. Varshney was apprehended while attempting to flee the country.
Risk assessment platforms are increasingly using diverse data sources to help lenders identify groups attempting to access credit from regulated entities and to improve the process of evaluating new-to-credit (NTC) users.
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.
Cyber fraudsters have duped Delhi residents of nearly Rs 1,000 crore so far this year, with investment scams, digital arrests and boss scams emerging as the most common cybercrimes.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyber frauds. Speaking at the Digital Payments Awards 2025 ceremony here, the minister credited fintechs with helping speed up financial inclusion and taking the payment system to even the far-flung areas of the country.
UPI-related frauds have accounted for a cumulative loss of Rs 2,145 crore across 2.7 million reported incidents.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
A bill to repeal the MGNREGA and introduce a new rural employment law, the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), has been circulated among Lok Sabha members.
Airtel has informed the government and regulator Trai that it has approached Reliance Jio and Vodafone Idea with a proposal for a joint initiative to unite the industry against rising telecom fraud and scams.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
Mastercard recently launched an authentication product called Identity Check Express that enables customers to verify transactions on their own.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
App-based communication services providers and Indian telcos are at loggerheads over the SIM-binding directions issued by the department of telecom, which are to be complied with by the end of February 2026.
Trai has ordered BFSI firms to move service and transaction calls to the 1600 series from 2026 to reduce spam, financial fraud, and rising digital arrest scams.
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.
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
