A man who had gone to withdraw money at an ATM in Sangam Vihar in New Delhi allegedly ended up getting four notes of Rs 2,000 with "Children Bank Of India" written on them, police said on Wednesday.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
The finance ministry on Friday informed a parliamentary committee that smuggling of fake currency has totally stopped post demonetisation and the tax department has seized Rs 515 crore in cash, including Rs 114 crore of new currency notes, up to January 10.
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 latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
The saving in 2015-16 was about Rs 7,000 crore.
Property of Rs 3,500 crore belonging to the company was seized by the EOW, a police official said.
The Delhi high court on Monday allowed journalist Rana Ayyub to travel abroad while questioning the Enforcement Directorate over a Look Out Circular (LOC) issued against her barring her from travelling abroad.
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
Every fifth phishing attack registered between May 2012 and late April 2013 targeted users of banks and other financial organisations.
Five people, including one who holds a PhD in human resources, have been arrested from Gurgaon for allegedly duping over 500 people of Rs 7.5 crore on the pretext of providing them jobs in leading multi-national companies, Delhi Police said on Friday.
In such frauds customers get calls asking them to share their OTP in order to postpone their loan EMIs. Once the OTP is shared the amount is immediately siphoned away by fraudsters.
Facebook is giving new users Aadhaar prompts!
'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.'
With growing internet penetration and aspirations, there's a surge in the number of fraudsters issuing fake ads and decamping with the money.
Banks will remain open for the public even on the weekend
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
Prime Minister Narendra Modi asserted on Wednesday that his government's action against corruption has made some people angry but he will not turn back in this fight against graft and nepotism, however big an alliance his rivals form against him.
This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.
Fraudsters in Himachal Pradesh minted a series of a cryptocoins -- two of which were KRO and DGT -- to cheat thousands of investors of more than Rs 200 crore over a period of five years, beginning in 2018 -- the year the crypto reached fever pitch.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
The value and volume of banknotes in circulation increased by 7.8 per cent and 4.4 per cent, respectively, during 2022-23 as compared with 9.9 per cent and 5 per cent, respectively, in 2021-22, revealed the RBI annual report released on Tuesday. In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 87.9 per cent of the total value of banknotes in circulation as on March 31, 2023, as compared to 87.1 per cent a year ago. The Reserve Bank has announced withdrawal of Rs 2,000 notes, and holders of the highest value currency have been given time till September 30 to exchange or deposit them.
The dairy company has alleged that Google India and also goDaddy.com were misusing their platforms for earning revenues through advertisements on fake B2B campaigns that duped innocent individuals seeking Amul franchise across India.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
The Madhya Pradesh Police have arrested the father of former Indian cricketer Naman Ojha in connection with a case of alleged embezzlement of funds in Betul district in 2013.
The move came a day after the Election Commission announced dates for the forthcoming assembly polls in his state.
In a first, a special National Investigation Agency court in Mumbai sentenced six accused in a 2009 fake currency case to life imprisonment, terming the possession and circulation of Indian counterfeit notes as an "act of terrorism".
The Punjab police has arrested a Border Security Force jawan for allegedly helping in cross border smuggling of weapons and narcotics.
Sushant Kumar Dass and Lalit Patodi were arrested on charges of facilitating Telgi's dealings in fake stamp papers in Delhi by opening bank accounts in fictitious names, Deputy Commissioner of Police (Economic Offences Wing) Dinesh Bhatt said.
He claimed 50 per cent of the country's black money was going to BJP's coffers.
Maharashtra and West Bengal lead the way in bank fraud.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
'The counting machine beeped, indicating a counterfeit note.' 'When the teller started tearing it, my nephew stopped him and asked him: Under whose authority was he destroying it, how did he know that the note was fake and if a genuine note gets destroyed, how will he be compensated?' Harsh Roongta explains the process if you have a counterfeit note.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Govt sets up task force to monitor circulation of fake currency; suspicious Jan Dhan accounts under scanner.
At the rally in Shimla's Ridge Maidan to mark the eighth anniversary of becoming prime minister, Modi said, "Now our borders are more secure than they were before 2014."
Fraudsters duplicate SIM cards to hack into bank accounts.
