The Central Bureau of Investigation (CBI) is set to take over the investigation into the embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank in Chandigarh. The Haryana government decided to hand over the probe to the central agency last month following allegations that funds were diverted for personal use through shell companies and real estate investments.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
Delhi Police have arrested six individuals linked to interstate cybercrime syndicates involved in digital arrest, fake IPO, and trading scams, recovering millions of rupees.
The Supreme Court has urged the Kapur family, including Rani Kapur and Priya Kapur, to resolve their dispute over the family trust through mediation, appointing a former Chief Justice to oversee the process.
Sebi Chairman Tuhin Kanta Pandey announced intensified surveillance and technology-driven enforcement to combat pre-investment scams targeting retail investors, who are increasingly being lured by fake trading apps and promises of high returns.
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.
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.
The CBI has arrested an Indian national accused of trafficking citizens to cyber scam compounds in Myanmar, where they were forced to participate in cyber fraud.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
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 Indian government has extended the deadline for implementing SIM-binding rules for mobile messaging apps like WhatsApp and Telegram to December 31, following requests from the industry. The Department of Telecom has also relaxed the mandatory six-hour log-out rule for web versions of these apps.
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.
The Enforcement Directorate has restored assets worth over 15,000 crore to a Supreme Court-appointed committee for distribution to investors defrauded in the PACL (Pearls Group) Ponzi scheme.
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.
'Many policyholders do not understand that non-medical expenses, cosmetic treatments, and certain other procedures are not covered by health insurance policies.'
SSL said in a January 12 statement that it had become aware of fraudulent activity by a former employee and has referred the matter to law enforcement, adding that it had taken steps to secure assets and strengthen protocols.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
Delhi Police arrested a 22-year-old woman for allegedly providing mule bank accounts to an interstate cybercrime network, recovering numerous ATM cards, cheque books, and electronic devices.
Hyderabad police have dismantled a multi-crore illegal money circulation racket allegedly promoted by QNet, arresting 32 individuals across Telangana, Andhra Pradesh, and Karnataka.
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.
The Bombay High Court has denied bail to a man accused of trafficking educated youth on the pretext of providing them jobs abroad, only to coerce them to carry out cyber fraud activities.
Risk assessment platforms are increasingly using diverse data sources to help lenders identify groups attempting to access credit from regulated entities and to improve the process of evaluating new-to-credit (NTC) users.
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).
The Enforcement Directorate (ED) has arrested an agent based in Uttar Pradesh for allegedly defrauding investors through the 'QFX' Ponzi scheme. The agent, Navab Hassan, has been remanded to ED custody for nine days. This is the second arrest in the case, which involves multiple FIRs across several states.
The Enforcement Directorate (ED) has attached assets worth over 200 crore belonging to TDI Infrastructure Limited in connection with a money-laundering investigation related to alleged fraud against homebuyers.
The accused had links with six persons, arrested on November 3 from Morbi, Surendranagar, Surat and Amreli districts, for allegedly routing Rs 200 crore to Dubai-based cybercriminals using nearly 100 mule accounts, the release said.
The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear for questioning on February 26 after he skipped deposition this week, official sources said on Thursday.
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.
The Home Ministry has informed a parliamentary committee that security agencies utilise open-source intelligence, including social media, for information gathering, ensuring no privacy breach as personal data is not collected.
Cyber fraudsters have duped Delhi residents of nearly Rs 1,000 crore so far this year, with investment scams, digital arrests and boss scams emerging as the most common cybercrimes.
The Supreme Court has granted bail to filmmaker Vikram Bhatt and regularized the interim bail of his wife in a multi-crore rupees cheating case lodged in Rajasthan, involving allegations of misappropriated funds for a biopic project.
Celebrity hair stylist Jawed Habib, his son, and an associate are facing 32 FIRs for allegedly defrauding investors with promises of high returns on Bitcoin investments through Follicle Global Company (FLC).
Chartered accountants' apex body ICAI will be preparing a research paper to help markets watchdog Sebi in dealing with financial frauds. ICAI president Charanjot Singh Nanda on Saturday said the institute will set up a working group and hold discussions with Sebi to finalise the various aspects that will be looked into with respect to tackling financial fraud.
The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
Tina Ambani, wife of Anil Ambani, skipped the Enforcement Directorate (ED) summons for the second time in connection with a money laundering case. Anil Ambani has been asked to appear before the agency as well.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
'In the past 20 days, I've received everything from kids' piggy banks to Rs 1 crore (Rs 10 million) through social media. I want to thank them for their sympathy. I also want to ask them to send their bank details. I just need time, but will pay them all back with respect.'
'Women in crime can turn on and off emotions like a tap.' 'Something that comes in the way of their goals can be eliminated without a second thought.'
