It said that when a retiree, who withdraws amounts in the range of Rs 10,000 or Rs 20,000, suddenly withdraws huge amounts, then the bank should issue an alert.
The missive has, however, polarised stakeholders, with mobile operators under COAI coming out in its support, while digital platforms under the aegis of Broadband India Forum expressing "serious concerns" around overreach and calling for a pause in implementation of timelines.
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.
Here are some pointers that should serve as red flags for you
The recent revelations of financial irregularities, as in real estate firms allegedly involved in a loan syndication bribery case and the 2G telecom licence scam, may impact credit flow.
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.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Card and Internet banking frauds formed 56.5% of all cases in FY25.
"Property prices are sub-set of demand. We do not foresee any negative impact on demand. Hence, the prices will not come down," Jones Lang LaSalle India (JLL, India) Chairman and Country Head Anuj Puri said, when asked about the likely impact of housing finance scam on property demand and prices.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
A team from Britain's Crown Prosecution Service (CPS) recently visited Tihar Jail to assess prison conditions for the extradition of high-profile economic offenders such as Nirav Modi and Vijay Mallya.
The case pertains to the Andaman Nicobar State Cooperative Bank (ANSCB) and its former vice chairman Kuldeep Rai Sharma. Sharma, a 57-year-old Congress leader, is a former MP of the UT (2019-24).
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
The GenZ violence that engulfed Nepal is not only against nepo-babies -- its anger is broader and riddled with contradictions, making it difficult for interim PM Sushila Karki, points out Aditi Phadnis.
After Sita Raman, this is a Dulquer Salmaan film that has won Divya Nair's heart.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
Airtel has informed the government and regulator Trai that it has approached Reliance Jio and Vodafone Idea with a proposal for a joint initiative to unite the industry against rising telecom fraud and scams.
Speaking at the 'Samudra se Samruddhi' event, where he inaugurated and laid foundation stones of projects worth Rs 34,200 crore, Modi said all the problems of India have only one solution, and that is self-reliance.
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
The Enforcement Directorate (ED) arrested former Haryana Congress MLA Dharam Singh Chhoker from a five-star hotel in Delhi following a brief scuffle. Chhoker, along with his sons, is accused of defrauding over 1,500 homebuyers and siphoning off over Rs 500 crore through their real-estate companies. The ED had been seeking Chhoker's presence in the investigation since May 2022. The politician was caught at the Grappa Bar of the Shangri-La hotel on Ashoka Road. He is currently in ED custody for six days.
Such meetings are routine, the former state home minister added.
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.
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
LIC is also working on a new model to scan loan applications.
The EOW stated in its closure report that it did not see any criminality or wrongdoing in the matter, adding that the bank in question did not suffer any losses in the process of sanctioning loans or selling the Jarandeshwar Sugar Mill.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
Two year after the most gruesome and daring act of terror by 10 Pakistani terrorists on Indian soil hope seems to have given way to cynicism as people talk less about 26/11 heroes and more about CWG, 2G, Adarsh and housing loan scams.
The reaction from Planning Commission Deputy Chairman Montek Singh Ahluwalia comes a day after the Central Bureau of Investigation arrested LIC Housing Finance CEO Ramachandran Nair and seven other senior bankers on charges of corruption and criminal conspiracy.
Bank chairman and former president of the Maharashtra Cricket Association Dnyaneshwar Agashe, his son Ashutosh, wife Rekha and 12 others on the board of directors were taken into custody. The police said that the 15 accused along with six others allegedly misused their rights and sanctioned loans mostly to firms owned by themselves and then defaulted the loans, thereby duping the depositors.
The court will now decide whether to accept the report or direct the agency to continue the investigation and file a chargesheet.
He said while the previous UPA government hid the bad loans, his government has properly recognised them and brought tough laws to deal with defaults and recovery money.
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, on Thursday suffered another setback in his legal battle against his extradition as the high court in London denied him permission to appeal against his extradition order in the UK Supreme Court. In a judgment order pronounced at the Royal Courts of Justice in London, Lord Justice Jeremy Stuart-Smith and Justice Robert Jay ruled that "the Appellant's (Nirav Modi) application for permission to appeal to the Supreme Court is refused".
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
Sandeep Raut has been asked to depose before the central agency at its office in Mumbai next week, they said, adding his statement will be recorded under the Prevention of Money Laundering Act.
The PM blamed the UPA regime for the problems in the banking sector.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
The CBI has been carrying out searches at various locations for the past few days to locate assets acquired from the proceeds of the scam, officials said.
Hyderabad police on Thursday arrested two senior executives of scam-hit Karvy Stock Broking Pvt Ltd for allegedly involving in diverting funds raised from banks by pledging clients' securities as collaterals. According to a police press release, Rajiv Ranjan Singh, chief executive officer and G. Krishna Hari chief financial officer of Karvy were arrested basing on a complaint by IndusInd bank.
