Two men have been arrested in Delhi for allegedly defrauding a resident of Rs 2 lakh through a fake online trading scheme.
The number of frauds in the banking sector increased over four times in the past five years to 36,075.
The cases pertain to State Bank of India, Punjab National Bank, Andhra Bank, Oriental Bank of Commerce, Indian Overseas Bank, Allahabad Bank, Canara Bank, Dena Bank, Punjab and Sind Bank, Central Bank of India, Union Bank of India, IDBI Bank, Bank of Baroda, Bank of Maharashtra and Bank of India.
Police in Dehradun arrested two women from Uzbekistan and one from Kyrgyzstan for allegedly residing in the area with counterfeit Indian identification documents.
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.
Industrialist Pawan Ruia has been arrested by the West Bengal Police in connection with a multi-crore fraud case involving shell companies and cryptocurrency-based money laundering.
Indian stock markets rallied in early trade after US President Donald Trump announced a halt to planned military strikes on Iran, citing requests from Gulf leaders and ongoing "very big discussions" that could lead to a deal. This de-escalation, coupled with foreign fund inflows and gains in IT and Adani group stocks, contributed to the positive market sentiment. Track Sensex and Nifty on May 19, 2026.
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.
A 20-year-old man was arrested for allegedly posing as an employee of a digital payment platform and duping shopkeepers in East Delhi by claiming to check defective sound boxes.
LIC offices will remain open during normal working hours on Tuesday for customer convenience, following an advisory from Irdai. CoinDCX commits to invest in cybersecurity infrastructure, and PayNearby introduces UPI QR-based cash withdrawals.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
Uttar Pradesh DGP Rajeev Krishna announced a conviction rate of over 93 per cent due to the state's 'zero tolerance' policy against crime. Authorities seized properties worth nearly Rs 788.38 crore linked to criminal activities.
The CBI has arrested Ubaid Ullah, a key conspirator in a cyber crime network, from Guwahati. He is accused of illegally procuring over 10,000 SIM cards for use in cyber crimes.
Police in Lucknow have arrested four people for allegedly using ChatGPT and graphic design software to create and sell fake IPL tickets outside the Ekana Stadium.
Bilaspur police have registered a criminal case against a businessman accused of selling a stolen vehicle and defrauding a buyer of approximately Rs 14 lakh.
The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
The legislator was taken into custody under provisions of the Prevention of Money Laundering Act after he was detained by agency officials from a public meeting he was holding in Malerkotla, they said.
The United States Trade Representative (USTR) has expressed concerns that India's Digital Personal Data Protection (DPDP) Act, particularly the lack of a deemed consent mechanism for credit information companies, and the Information Technology (IT) Rules of 2021, along with frequent internet shutdowns, could negatively impact the ability of US companies to operate and trade in India.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
The UK High Court has concluded the hearing for Nirav Modi's application to reopen his extradition appeal, focusing on claims of potential torture during interrogations in India. The court has reserved its judgement.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
An Indian-origin couple in the UK has been sentenced for breaching a disqualification order, operating companies despite a ban imposed after tax fraud claims.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
According to the Central Bureau of Investigation, Gutte is one of the directors of Gangakhed Sugar and Energy Limited.
A Mumbai-based businessman was allegedly duped of Rs 3.25 crore by a nine-member inter-state gang promising high investment returns. The gang also allegedly assaulted and threatened the businessman. Police have registered a case and handed it over to the Mumbai Crime Branch for further investigation.
A man has been arrested in Rajasthan for his alleged involvement in an illegal Aadhaar enrolment racket, where fake Aadhaar cards were generated using manipulated biometric data.
A 35-year-old man has been arrested for allegedly defrauding over 500 women across India of more than Rs 2 crore through fake social media and dating app profiles.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
We propose an expert group be set up to form a national strategy on digital fraud. This group would bring together skills in financial regulation, security economics, cyber defence, and public communications, and an understanding of the Indian financial and security systems. It should lay the foundations of a coordinated approach by the Indian State in fighting digital fraud, suggest Ajay Shah and Nandkumar Saravade.
'A mule operates someone else's account to transfer illegal money.'
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
The brother of the chancellor of Al Falah University, linked to the Delhi blast probe, has been arrested by Madhya Pradesh police from Hyderabad in connection with nearly 25-year-old fraud cases.
The CBI has booked Kanpur-based Rotomac Global and its directors for Rs 750.54 crore for alleged fraud in Indian Overseas Bank, officials said. The company, which was in the business of writing instruments, has a total outstanding of Rs 2,919 crore against a consortium of seven banks led by Bank of India in which Indian Overseas Bank has an exposure of 23 per cent. The agency has booked the company and its Directors - Sadhna Kothari and Rahul Kothari - under IPC sections related to criminal conspiracy (120-B) and cheating (420), besides various provisions of the Prevention of Corruption Act.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
A Kerala MLA, K Shantakumari, was targeted by cyber fraudsters claiming a connection to a bomb blast case and using her identity. The MLA reported the incident to the cyber cell after her son identified inconsistencies in the video call.
'In plain simple English, these practices amount to a looting of our country's future by some in the business community, in cahoots with some lenders,' says RBI Governor Dr Urjit R Patel.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
The Supreme Court has directed the government to raise awareness, compensate, and protect vulnerable individuals who have lost money in cyber scams. The court's remarks came while granting bail to an accused in a cybercrime case, emphasizing the need for public education and cybersecurity awareness.
