The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
The London High Court has rejected Nirav Modi's petition to reopen his extradition case, citing the Indian government's assurances regarding his treatment in India as a key factor in their decision.
Parliament was informed that UPI has onboarded 55.49 crore users by June 2026, with transactions reaching 24,162 crore in volume and Rs 314 lakh crore in value in FY 2025-26. The platform, operated by NPCI, is expanding internationally through NIPL, facilitating cross-border payments and assisting other nations in building similar systems. Significant efforts are also underway by the Government, RBI, and NPCI to enhance the security and transparency of UPI transactions, including risk-based limits, security frameworks, and public awareness campaigns against cyber-crime.
Delhi Police have dismantled a major international cyber fraud syndicate, arresting the alleged mastermind and 10 others. The syndicate is linked to over 2,000 complaints and scams worth over Rs 300 crore, with connections to international cyber fraud operations in Cambodia.
Maharashtra and West Bengal lead the way in bank fraud.
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.
Delhi Police have dismantled a major international cyber fraud syndicate using illegal 'SIM Box' technology to defraud people through digital arrest scams and fake investment schemes. Two individuals have been arrested, and the investigation revealed links to handlers in Cambodia and other Southeast Asian countries.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
A Delhi court sentenced Madhya Pradesh Congress MLA Rajendra Bharti and a former bank employee to three years' imprisonment each in a cheating case involving the forging of bank records to obtain illegal interest payments between 1998 and 2011.
Gurugram police arrested three men, including an IIT student, for allegedly working with foreign-based cyber fraudsters, providing bank accounts and handling transactions for a commission.
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.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
The European Court of Human Rights has granted fugitive diamantaire Nirav Modi anonymity, shielding his extradition case from public scrutiny. This decision comes as Modi faces potential extradition to India from the UK, where he is accused of a large-scale fraud.
Maharashtra witnessed the maximum number of fraud cases relating to credit/debit cards and internet banking in 2012.
Frauds in the Indian banking system more than doubled in value during 2005, touching Rs 1,134.3 crore (11.34 billion) as against Rs 451 crore (Rs 4.51 billion) in the previous year, Lok Sabha was informed on Friday.
Larger NGOs could no longer work with smaller ones, especially those organisations working on the ground that had no means of or expertise in raising money themselves, reveals Aakar Patel.
The Antwerp Court of Appeal has advised the Belgian government to approve the extradition of fugitive diamantaire Mehul Choksi to India on six of seven charges, including criminal conspiracy and fraud.
The Department of Telecommunications (DoT) has introduced a new authorisation regime, replacing multiple licences with a single permission for principal telecom services, aiming to simplify compliance and accommodate evolving technologies. This move is expected to ease business operations, enhance fraud prevention with AI, and expand connectivity, especially through satellite networks.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
Indian stock markets concluded Tuesday's trading session lower, reversing intraday gains due to late-session selling in blue-chip stocks like HDFC Bank and Reliance Industries. The decline was primarily driven by the Indian rupee hitting a new record low against the US dollar and elevated global crude oil prices, compounded by geopolitical uncertainties.
Dr Lovi Raj Gupta, pro vice-chancellor, Lovely Professional University, explains how aspiring professionals can equip themselves for a competitive AI-driven job market.
'It is a tradeoff between convenience and fraud prevention.'
A special CBI court in Mumbai has sentenced four individuals to imprisonment for their involvement in a 2012 case where the Bank of India suffered a loss of over Rs 3 crore due to a forged Letter of Credit.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
A US judge has granted Gautam Adani's request for a hearing to dismiss a US Securities and Exchange Commission (SEC) fraud case, with Adani's legal team arguing the case lacks jurisdiction and credible evidence.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
A Nigerian national was arrested in Delhi by the Uttar Pradesh STF for allegedly creating fake profiles of US and UK citizens on social media and cheating victims on the pretext of sending expensive gifts and foreign currency.
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate (ED) to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
A Delhi court has requested clarification from the Ministry of External Affairs regarding the extradition status of a former managing director of Bush Foods Overseas Pvt Ltd and his wife, who are residing in London, in connection with a money laundering case linked to an alleged Rs 750-crore bank loan fraud.
In FY24 alone, 1.34 million fraud cases were reported, amounting to losses of Rs 1,087 crore.
A Kerala MLA, K Shantakumari, was targeted by a cyber fraud gang impersonating Anti-Terrorism Squad officers, who claimed she was linked to a bomb blast case. She reported the incident to the cyber cell after uncovering their deception.
Chief Justice of India expresses concern over the increasing number of digital arrest scams, highlighting a recent case where an elderly woman was defrauded of her retirement benefits.
Manjeet Bawa, 46, of New York and other co-defendants contracted to buy homes in Nassau and Suffolk Counties from innocent sellers at market prices.
Delhi Police arrested over 600 people and rounded up over 8,300 suspects during Operation CyHawk 4.0, a large-scale crackdown on cybercrime.
The UK High Court has rejected Nirav Modi's attempt to reopen his extradition case, citing the Indian government's comprehensive assurances against torture as sufficient to allow his transfer to India.
If convicted, each defendant faces a maximum penalty of 30 years.
The CBI has arrested three individuals, including an IndusInd Bank assistant manager, in connection with a Rs 1.6 crore "digital arrest" scam. The arrests followed searches in Telangana and Andhra Pradesh.
Delhi Police arrested over 600 individuals and detained over 8,300 suspects during Operation CyHawk 4.0, a major crackdown on cybercrime. The operation targeted financial networks and call centres involved in online scams, recovering significant digital evidence and tracing defrauded money.
