The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
According to the Central Bureau of Investigation, Gutte is one of the directors of Gangakhed Sugar and Energy Limited.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
'The first and most basic responsibility of any government is to protect its people from external threats and internal harm.' 'Budget 2025-2026 has to focus on meeting this responsibility,' asserts R Jagannathan.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
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."
57% of the respondents indicated that their organisations did not conduct independent fraud risk assessment
With a view to protect prudent commercial decision of bankers, the government has taken a slew of decisions, including doing away with personal responsibilities of MD and CEO of PSBs for compliance in dealing with large value frauds committed by bank officials.
Choksi, along with his nephew and millionaire designer jeweller Nirav Modi, is being investigated by the ED for allegedly defrauding PNB, the country's second largest lender.
While the results of the bypolls will not directly impact the composition of the 403-member state Assembly, the contest is being seen as a prestige fight between the BJP and opposition parties.
There will be a seven-day waiting period after the SIM swap or replacement for a mobile number to become eligible for porting, telecom regulator Trai said on Friday. The step has been taken to curb fraud taking place by using mobile phone numbers. "The Telecom Regulatory Authority of India (Trai), on 14th March 2024, issued the Telecommunication Mobile Number Portability (Ninth Amendment) Regulations, 2024, which will come into force on July 1, 2024," the regulator said.
The findings revealed the biggest threat to firms comes from within.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
The ED is also probing alleged violations of foreign exchange rules by the company since 2006.
Stricter norms of corporate governance under the Companies Act 2013 as well as increasing application of technology for early detection of frauds through data analysis surveillance and usage of forensic tool are among the other steps taken by the government to prevent fraud by companies, Jaitley said.
Fraudsters duplicate SIM cards to hack into bank accounts.
Frauds can have immediate impact on the banks' financials and can also cause a systemic risk in extreme cases
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
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.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
'Our politicians solely depend on bureaucrats who are unaccountable and follow their own agenda.' 'Our politicians would dare not dream of establishing a DOGE,' argues Lieutenant General Prakash Katoch (retd).
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.'
The 12,000-page charge sheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
The Enforcement Directorate has attached assets worth over Rs 14 crore belonging to the Gitanjali Group and its promoter and jeweller Mehul Choksi, one of the prime accused in the alleged over Rs 13,000 crore PNB loan fraud case. The properties attached, under the anti-money laundering law, include a flat measuring 1,460 sq feet located at O2 Tower in Goregaon area of Mumbai, gold and platinum jewellery, diamond stones, necklaces made of silver and pearls, watches and a Mercedes Benz car, the ED said in a statement. A provisional order for attachment has been issued under the Prevention of Money Laundering Act (PMLA) for the assets worth a total Rs 14.45 crore that are in the name of Gitanjali Group of companies and its director Mehul Choksi, it said.
As far as I'm concerned, we already have won it, Trump said.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
It is therefore important that precautions are taken so that you do not have to pay financially for the misdeeds of others.
'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.'
Don't share information over phone with anyone. Use only official apps. Keep Aadhaar locked unless needed.
Ratul Puri, already under probe scanner of the agency in the AgustaWestland VVIP chopper case, has been arrested by the Enforcement Directorate in connection with a Rs 354 crore bank loan fraud case.
Detecting frauds worth about Rs 1 crore in claims settlement across the country, Employees Provident Fund Organisation on Wednesday decided to set up a fact finding team to investigate into the matter as part of efforts to prevent such misdemeanours.
Government officials have lodged FIRs and slapped fines to the tune of Rs 1 crore on hospitals involved in frauds.
Gullible bank customers are getting fooled by callers who scare or lure them.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
The attorney general told the apex court that the invasion of privacy was very minimal in Aadhaar and it may not even be considered as an invasion.
The order came days after Goyal told the court that he had "lost every hope of life and it would be "better if he died in jail" than living in such a situation.
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
