The Reserve Bank of India (RBI) has proposed new measures to combat financial fraud in digital payments, including lagged credit for authorised push payments and a 'kill switch' for users to disable all digital transactions.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
Delhi Police have arrested three individuals, including a bank official, for allegedly defrauding a retired government officer of over Rs 45 lakh through a fake trading application.
Delhi Police have arrested five individuals from Uttarakhand's Udham Singh Nagar for their involvement in an interstate cyber fraud racket. The syndicate supplied mule bank accounts to cyber criminals, routing cheated money from online investment and task-based scams.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Rajasthan Police dismantled a cyber fraud operation, arresting 17 individuals for allegedly defrauding an accountant of Rs 5.30 crore by impersonating his company's chairman on WhatsApp.
A jeweller has been arrested in Haryana in connection with a Rs 590 crore fraud at IDFC First Bank. The investigation revealed that over Rs 250 crore was routed to the jeweller's firm from companies linked to the accused.
Delhi Police have arrested two individuals for allegedly defrauding a man of Rs 7 lakh through a fake stock investment scheme operated via a social media app. The accused lured victims with promises of high returns before siphoning off the funds.
Four individuals have been arrested for allegedly running a sophisticated cyber fraud operation, duping people with fake discounted air tickets across multiple cities. Police recovered a substantial amount of cash and luxury items from the accused.
A BJP politician in Bhadohi, Uttar Pradesh, has filed a police complaint alleging he was defrauded of 50 lakh in a land deal. Police have registered a case and are investigating the matter.
Gujarat's Director General of Police, KLN Rao, has emphasised the importance of a proactive approach in combating cybercrime, focusing on technology, coordination, and public awareness.
Delhi Police have dismantled a cyber fraud syndicate with connections to foreign handlers, arresting three individuals, including a bank employee. The investigation revealed the use of mule accounts, social media platforms, and cryptocurrency for illicit transactions.
The Enforcement Directorate (ED) conducted searches at multiple locations in Punjab and Chandigarh, including premises linked to an alleged associate of a Punjab Aam Aadmi Party functionary, as part of a money laundering probe against two realty groups accused of fraudulent land use changes and investor fraud.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
A 75-year-old doctor in Pune was defrauded of 12.31 crore in an online share trading scam after being coerced into making multiple investments by fraudsters.
The WhatsApp account of the Barwani district collector in Madhya Pradesh was hacked, with fraudsters sending messages to her contacts requesting money.
The Enforcement Directorate (ED) conducted searches in Punjab and Chandigarh, targeting realty groups and individuals linked to an official in the Chief Minister's Office, as part of a money laundering investigation into fraudulent land use changes and investor fraud.
Police in Lucknow busted a gang that misused the Mudra loan scheme to create fake GST firms and commit input tax credit fraud worth approximately Rs 1.3 crore.
Delhi Police have arrested two men for allegedly running a cyber fraud racket involving over Rs 3.60 crore. The accused used mule bank accounts and a social media application to defraud victims. The investigation revealed links to an international cyber fraud network and training in Cambodia.
A 42-year-old man from Thane, Maharashtra, was allegedly defrauded of 71.1 lakh by cyber criminals posing as CBI officers who threatened to implicate him in a false case.
The Allahabad High Court has granted bail to businessman Rajesh Bothra in connection with the Rotomac 'scam', citing the likelihood of a prolonged trial.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
The Enforcement Directorate (ED) conducted searches at multiple locations in Punjab and Chandigarh, including premises linked to an official in the CMO, as part of a money laundering probe against realty groups accused of fraudulent land use changes and investor fraud.
The Congress party in Maharashtra has accused senior police officials, including an IPS officer, of involvement in a multi-crore bogus call centre racket and is demanding a high-level investigation.
Andhra Pradesh MLA C Balaraju lost 12 lakh after clicking on a malicious APK file, leading to a police investigation into a potential organised cyber fraud gang.
A 64-year-old man from Thane was allegedly defrauded of 1.56 crore by cybercriminals using a 'digital arrest' scam, involving forged documents and constant surveillance.
A fraudulent website impersonating the Mangaluru city police was used to deceive individuals into online gambling schemes, prompting a police investigation and public warnings.
A 75-year-old doctor from Pune was defrauded of Rs 12.31 crore in an online share trading scam after being coerced into making multiple investments by fraudsters.
Gujarat police have dismantled a Rs 77 crore cyber fraud operation with links to 375 cases nationwide, arresting 16 individuals and uncovering international connections.
The Allahabad High Court dismissed a petition by an advocate seeking quick disposal of a maintenance case against his wife, calling it 'vexatious' and imposed a significant fine for concealing facts and misusing his wife's funds.
Kolkata Police have dismantled a cyber fraud network operating illegal 'SIM box devices' to impersonate law enforcement officials, leading to the arrest of two individuals and the recovery of crucial equipment.
Police in Gadag, Karnataka, have arrested five men for allegedly luring students with false promises of scholarships to open bank accounts for illegal transactions.
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.
The Jammu and Kashmir Police's Counter Intelligence Wing (CIK) has dismantled a sophisticated international cyber fraud racket, arresting seven individuals in Srinagar. The operation targeted victims in the USA, UK, and Canada, using advanced techniques to steal funds through deceptive online schemes.
A Delhi court has dismissed the bail application of Al-Falah chairman Jawad Ahmad Siddiqui in a Rs 493-crore money laundering case being investigated by the Enforcement Directorate, saying that the allegations against him are 'grave in nature'.
Deferred payment plans may come with a cost, which may not be immediately visible.
Two land brokers have been arrested in Odisha's Ganjam district for allegedly defrauding a software engineer of 7.5 million by selling him a land parcel that had already been sold to others decades ago.
A special court in Mumbai has issued notices to Nirav Modi's brothers, Neeshal and Nehal Modi, asking them to explain why they should not be declared fugitive economic offenders in the Punjab National Bank scam.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
