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.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
'The major worry for everyone using Internet-linked devices today is whether the latest download on his smartphone or laptop is a bait from a digital hacker who is out to secure access to his hard-earned money,' notes T A Ramalingam, chief technical officer, Bajaj Allianz General Insurance.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Some of the celebrities whose names and details were used by the fraudsters are Abhishek Bachchan, Shilpa Shetty, Madhuri Dixit, Emraan Hashmi and Mahendra Singh Dhoni, Deputy Commissioner of Police (DCP) of Shahadra Rohit Meena said.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
Six individuals, including a woman who accused Haryana BJP chief Mohan Lal Badoli and singer Rocky Mittal of rape, have been booked for extortion and criminal intimidation. The Himachal Pradesh police filed a cancellation report in a court, stating no evidence supported the rape allegations. Mittal claims the woman and her associate threatened to implicate him and Badoli in a 'honey trap' case, demanding Rs 50 lakh for a compromise. He further stated that the accused lodged a false rape case after failing to extort money.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
Chandrakar along with another promoter of the app, Ravi Uppal was detained and put under "house arrest" in that country late last year following the ED's request for issuance of a Red Notice (RN) against them.
The Delhi Police Special Cell arrested a man from Hyderabad for allegedly trafficking Indian youths and forcing them to work in fake call centres engaging in cyber fraud. The arrest came after a 2,500-kilometre non-stop chase, an officer said. The accused, Kamran Haider alias Zaidi, carried a reward of Rs 2 lakh on information leading to his arrest, declared by the National Investigation Agency. Zaidi was apprehended near Nampally Railway Station, Hyderabad, Telangana while trying to escape to another hideout.
Pavel Durov, the founder and CEO of Telegram, is under formal investigation related to illicit activities on the messaging app.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
In addition to educating Delhiites and holding a joint awareness campaign against cyber frauds, Truecaller will also display official numbers of the Delhi police representatives on the app's government directory services.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
It said a "sudden rise" in terrorist-financing investigations was seen in 2023 and this was attributed to events arising out of incidents in Manipur that led to such probes in more than 50 cases.
Sources said that Langa and an unidentified employee of the Gujarat Maritime Board (GMB) have been booked on the charges of theft and under relevant sections of the Prevention of Corruption Act.
The directions follow a report by the Indian Cyber Crime Coordination Centre, which has seen a new pattern of transnational cyber-enabled financial fraud and investment scam, impersonating as stockbrokers and company executives.
Fraudsters duplicate SIM cards to hack into bank accounts.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
For online fraud, approach cyber cell and file a complaint.
The Delhi government's Women and Child Development and Health departments issued public notices on Wednesday distancing themselves from the ruling Aam Aadmi Party's promised schemes of providing Rs 2,100 to women and free treatment for the elderly, triggering a fresh row ahead of assembly polls.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
With digital adoption fast gaining currency, India is likely to see retail digital payments double to $7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
Personal data of thousands of people in India has been leaked from a government server which includes their name, mobile number, address and Covid test result, and these information can be accessed through online search.
The advisory has asked government staffers to delete such an e-mail if received in their inbox.
Cloned journals have become more rampant in the post-pandemic world.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
Regularly monitor your account for any suspicious activity. Keep your devices updated with the latest security patches to prevent vulnerabilities. Ensure the physical wallet you use is stored securely to avoid loss or theft.
Online fraudsters are widely targeting Unified Payments Interface (UPI) transactions to dupe people and carry out unauthorised transactions, making it the most prevalent form of online financial fraud during 2020-2023, said a whitepaper on cybercrime trends.
So how does one protect themselves from misuse of their credit cards? Here are a few helpful suggestions.
Muktesh Kumar Pardeshi, joint secretary Passport Seva Project and Chief Passport Officer said around 25-30 per centof the applicants who get an appointment do not turn up at the respective offices.
While it's not difficult to fall prey to card fraud, individuals can protect themselves against losses.
The bench referred to three reports submitted by the cyber cell police which said the beneficiaries were added to the bank account without any message or OTP received on the registered mobile number and email to the registered email account.
Whether it is the virtual world or the physical one using your credit card with a few precautions go a long way in keeping it safe. Be cautious and do not become a statistic in the growing credit card fraud!
