Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
A man was arrested in Gujarat for allegedly receiving a significant portion of Rs 3.71 crore siphoned off from a Mumbai woman in a 'digital arrest' scam. The cybercriminals impersonated law enforcement and court officials, staging a fake online hearing to deceive the victim.
Telangana's anti-narcotics wing, the EAGLE Force, conducted a multi-state operation against a Nigerian drug cartel, resulting in over 50 arrests and the seizure of narcotics worth Rs 3.5 crore.
Delhi Police have arrested two men for allegedly running a cyber fraud racket involving over Rs 3.60 crore. The accused used mule bank accounts and a social media application to defraud victims. The investigation revealed links to an international cyber fraud network and training in Cambodia.
Delhi Police have arrested Abas Khan, the alleged kingpin of a sextortion racket, from Rajasthan's Mewat region for allegedly duping a 21-year-old man of Rs 2.52 lakh through a fake video call and blackmail.
Delhi Police dismantled an interstate cyber fraud network involved in routing illicit funds through bank account kits, SIM cards, and ATM credentials, leading to the arrest of three key individuals from Haryana and Himachal Pradesh.
Delhi Police have arrested two men from Gujarat for allegedly defrauding a Delhi resident of Rs 9.75 lakh under the guise of high-return share market investments.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Delhi Police have arrested three individuals for their alleged involvement in an online investment fraud of Rs 10 lakh. The accused lured a complainant with promises of high returns on stock market investments before ceasing communication after receiving the funds.
Delhi Police arrested over 600 individuals and detained more than 8,000 suspects during Operation CyHawk 4.0, a major crackdown on cybercrime.
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.
Two African nationals have been arrested in Delhi for their alleged involvement in an international cyber fraud racket that defrauded victims across multiple states of more than Rs 5 million.
Delhi Police have dismantled an interstate cyber fraud syndicate involved in an online investment scam, arresting four individuals. The accused allegedly defrauded victims by promising high returns on online trading platforms and coercing them into depositing more money.
Four individuals have been arrested for allegedly running a sophisticated cyber fraud operation, duping people with fake discounted air tickets across multiple cities. Police recovered a substantial amount of cash and luxury items from the accused.
Delhi Police have arrested two individuals for allegedly defrauding a man of Rs 7 lakh through a fake stock investment scheme operated via a social media app. The accused lured victims with promises of high returns before siphoning off the funds.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
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.
Delhi Police have arrested a man from Maharashtra for allegedly cheating a Delhi resident of Rs 9.25 lakh on the pretext of arranging a visa and overseas job.
The Enforcement Directorate (ED) has accused Karnataka Congress MLA K C Veerendra of collecting over Rs 2,000 crore through online betting sites. The agency alleges that Veerendra and his associates used various gateways and fintech service providers to mask their illicit activities.
The Enforcement Directorate (ED) has attached properties worth Rs 1.06 crore in connection with the 'Global Media App' fraud, an online earning platform that allegedly generated over Rs 45 crore through illicit means.
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.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
Delhi Police have dismantled three multi-state cyber fraud networks involved in online investment scams, fake trading applications, and KYC fraud, leading to the arrest of three key individuals.
Delhi Police have arrested three men and bound down a woman in connection with a cyber fraud operation that allegedly cheated a grocery shop owner of Rs 17 lakh through fake stock market investments.
Delhi Police have arrested 11 individuals, including two alleged masterminds, after uncovering a fraudulent call centre in Govindpuri, South Delhi. The operation, known as Herbitecture Healthcare, reportedly deceived people nationwide by promoting weight-loss products on social media and enticing customers into making repeated payments.
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.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
The relation between a regulator and its regulated entities is collaborative and not adversarial with the common objective of maintaining the stability and credibility of the financial system. However, the action on regulated entities like penalties and business restrictions are the last resort, Reserve Bank of India (RBI)'s governor Sanjay Malhotra said on Friday.
The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Gujarat Police arrested an Indian national accused of running an international cyber slavery network operated by Chinese gangs from Myanmar and Cambodia. The accused allegedly supplied Indian workers to scam compounds where they were forced to commit cybercrimes.
'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
The number of digital financial frauds rose more than four times in FY24 year-on-year to comprise 80 per cent of all financial frauds.
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'.
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 Supreme Court has expressed serious concerns about the rise in digital fraud, particularly digital arrest scams, and has directed the central government to develop a standard operating procedure to combat these crimes.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
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.
The agency also ran a parallel investigation into cyber-slavery and the organised digital exploitation networks in Southeast Asia, with slave compounds in Myanmar and neighbouring areas, that are emerging as incubators for the execution of such frauds.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
