Chandrakar along with another promoter of the app, Ravi Uppal was detained and put under "house arrest" in that country late last year following the ED's request for issuance of a Red Notice (RN) against them.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
PNB reported the maximum number of such frauds.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
Bankers said fear of loan losses impairing their careers could make officers wary of sanctioning new loan proposals on their own.
Wedding.con is a watchable show, if only to caution people about the latest scams, notes Deepa Gahlot.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
All these were done on the basis of forged papers.
Pakistan off-spinner Saeed Ajmal has been accused of fraud and misuse of facilities by the administration of the University of Agriculture in his hometown Faisalabad. The administration has ordered him to immediately vacate the land given to him to establish his cricket academy. The varsity administration claimed on Saturday that Ajmal had charged admission fees from one student to join the academy and over 350 students became members.
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
Bangalore police may seek Interpol help to solve the crime.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
Crime was carried out by a syndicate and involved breaking into the computer systems of global financial institutions
The agency had called him a hostile witness after he made the allegations.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
Former Premier League striker Delroy Facey was found guilty of conspiracy to commit bribery in a match-fixing trial on Wednesday.
The ban results from a penalty Lamptey awarded to South Africa in a 2-1 win over Senegal in a 2018 World Cup qualifier in November.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
A senior life insurance official point out there have also been cases involving former insurance agents.
Do not share your passwords or personal information with anyone.
The case pertains to alleged financial irregularities in supply of high-altitude tents worth Rs 22 crore to intelligence agency Research and Analysis Wing during 2009-13.
Two men alleged to be members of an illegal betting syndicate based in Singapore were charged with conspiracy to defraud on Thursday as part of a match-fixing investigation into English lower league soccer.
Father of the former Delhi age-group cricketer, caught in the Ashes spot-fixing controversy, says his son has never even been to England or Australia, let alone fix matches involving the two countries.
Taking a swipe at DMK president's statement that the party would take steps to implement prohibition if voted to power in the next elections, AIADMK said it was done with an eye on polls.
Besides the young techies and nerds who indulge in hacking for fun and as a challenge to break into important and tightly secured sites, crime syndicates are on the prowl to steal passwords, account details and personal information to indulge in illegal money transfers, ATM withdrawals and other damaging activities.
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
