In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
A retired ITBP officer in Punjab's Hoshiarpur district has reported an online fraud of approximately 17.52 lakh from his bank accounts. Police have registered a case and are investigating the incident.
Mumbai police have arrested a man from Gujarat for his alleged involvement in a cyber fraud case where a senior citizen was duped of Rs 2.25 crore after being threatened with arrest in a fake terrorism-related probe.
In a significant ruling, District Consumer Complaints Redressal Forum has held HDFC bank responsible for unauthorised fund transfer in an internet banking transaction.
The government has circulated among members ofParliament a new draft of the Amendment of Insurance laws Bill, 2025, proposing stricter safeguards on the utilisation of life insurance funds and other specified insurance business funds, particularly for dividend payouts, bonuses, and servicing of debentures.
Three individuals, including a woman, have been arrested in Maharashtra's Beed district for allegedly defrauding a man of 23.42 lakh by threatening him with 'digital arrest'.
The complainant in a Rs 71.6 lakh cheating case involving CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal has withdrawn his grievance after recovering his invested amount. The arrests were made following an FIR registered on March 16 at Mumbra police station against Gupta, Khandelwal and four others on charges of cheating, criminal breach of trust and fraud.
Police in Belagavi, Karnataka, have uncovered a large cyber fraud network using 2,900 mule bank accounts to funnel fraudulent transactions. The fraudsters target unemployed youth and women with promises of easy commissions, persuading them to share or open bank accounts used for illegal fund transfers.
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Odisha vigilance officers arrested the parents of a previously arrested banker, along with another individual, for allegedly embezzling Rs 5.56 crore in government funds in the Jajpur district. The accused are Pradip Kumar Mohanty, his wife Gitarani Mohanty, and Bishnu Prasad Dash. The funds were fraudulently diverted over six years.
Amrita Singh Tomar, a woman tehsildar known for her appearance on 'Kaun Banega Crorepati', has been arrested in connection with a Rs 2.5 crore flood relief scam in Madhya Pradesh.
The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 34.51 crore in connection with an alleged financial fraud involving the United Services Club in south Mumbai.
A man from Beed, Maharashtra, has been arrested for allegedly posing as a government official and defrauding women by promising them benefits under various government schemes. The accused used the money to fund his alcohol addiction.
The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
Indian police have arrested three more individuals allegedly involved in a Pakistan-linked espionage racket, bringing the total number of arrests to 21. The suspects are accused of sending sensitive information to Pakistan.
An Indian-origin county judge in Texas, K P George, has been convicted of money laundering for misusing campaign funds, potentially leading to his removal from office.
Indian police have arrested three more individuals allegedly involved in a Pakistan-linked espionage racket, bringing the total number of arrests to 21. The accused are suspected of sending sensitive information to Pakistan.
Delhi Police have arrested 11 individuals involved in a cyber fraud racket operating from Delhi and Mumbai, which allegedly defrauded a senior citizen of over Rs 22 lakh with promises of high investment returns. The network is linked to international operators in Cambodia.
The National Commission for Women (NCW) has submitted a comprehensive set of recommendations to various central ministries, outlining a survivor-centric framework to enhance care, justice, and rehabilitation for acid-attack victims.
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.
Delhi Police have busted a cyber fraud syndicate involved in duping people through fake stock investments, leading to the arrest of a 24-year-old student.
It is a nation-wide system, which helps individuals, firms and corporate to electronically transfer funds.
Thane police have arrested CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in connection with an alleged fraud of Rs 71.6 lakh. The company claims the FIR is false and a conspiracy against them.
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
The Enforcement Directorate has frozen 90 bank accounts following searches related to the alleged siphoning of Rs 590 crore of Haryana government funds through IDFC First Bank, involving shell companies and bogus billing for gold purchases.
The International Financial Services Centres Authority (IFSCA) has cleared a series of regulatory relaxations to ease operations for fund managers in GIFT City, along with a revamped framework for global in-house centres (GICs) and capital market intermediaries.
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.
Fraudsters in Thane, Maharashtra, allegedly duped 11 residents by promising low-cost housing under a government scheme and forging their credentials to open bank accounts for larger financial transactions.
A Delhi court has remanded I-PAC co-founder Vinesh Chandel to the Enforcement Directorate's custody for 10 days in connection with a money laundering case involving alleged diversion of funds worth crores of rupees.
A court in Thane district granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal, who were arrested in connection with an alleged cheating case involving Rs 71.60 lakh. The court cited a lack of prima facie evidence against them.
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
A scam of nearly Rs 11 crore in the mid-day meal scheme was brought to light in Uttar Pradesh's Balrampur district, leading to a first information report (FIR) against 45 people and the arrest of five individuals, including a village head and an assistant teacher, police said on Thursday.
Five individuals, including an electronic repair shop owner and a DJ operator, have been arrested for allegedly defrauding a 78-year-old Delhi resident of over Rs 2.19 crore through a sophisticated cyber fraud involving impersonation of law enforcement officials and a 'digital arrest'.
The CBI has registered separate cases related to digital arrest fraud targeting a former professor and a retired gynaecologist from Gujarat, who were defrauded of a total of Rs 30 crore.
Delhi Police have arrested six individuals linked to interstate cybercrime syndicates involved in digital arrest, fake IPO, and trading scams, recovering millions of rupees.
Two co-founders of the cryptocurrency exchange platform CoinDCX have been arrested by Thane police in connection with an alleged fraud of Rs 71.6 lakh. The arrests follow an FIR filed against the founders for cheating, criminal breach of trust, and fraud.
The Hazaribag Superintendent of Police (SP) Office treasury scam has seen further developments with more arrests and a significant increase in the embezzlement amount to 28 crore. The investigation continues, with authorities pursuing leads in Bihar and freezing suspicious accounts.
Indian police have apprehended three more individuals, including a juvenile and a woman, allegedly involved in a Pakistan-linked espionage racket, bringing the total number of arrests to 18. The suspects are accused of sending sensitive information to Pakistan via parcels through Dubai and WhatsApp.
A court in Thane district granted bail to CoinDCX co-founders Sumit Gupta and Neeraj Khandelwal in an alleged Rs 71.60 lakh cheating case, citing a lack of prima facie evidence against them. The case involves allegations of impersonation and misuse of the CoinDCX brand by fraudsters.
