Online Banking Fraud

89.2 per cent of the frauds reported in 2023-24 by value occurred in previous financial years

You looked for tickets on a travel website and it showed a particular price. But, within minutes, the price increased

The Delhi Police received 5,294 complaints related to debit-credit card and SIM swap frauds in 2022 against 2,483 in 2021

In a stunning case, cyber frauds have allegedly siphoned off Rs 7.79 crore from the Kangra Co-operative Bank's current account maintained by the Reserve Bank of India (RBI), according to a police complaint filed by the bank. The fraud took place in three separate transactions on as many consecutive days, the first being on April 19, 2023. Since the bank is financially supervised by the RBI and the current account which has been subjected to fraud is also with the regulator itself, the cyber theft has left top officials clueless. They have not been unable to ascertain the person who has withdrawn the amount through fraudulent transactions, even though Kangra Bank officials said they have been able to identify accounts in which the money has been transferred. Sahdev Sangwan, Kangra Bank Senior Manager (IT), complained to the Delhi Police based on which an FIR was lodged in the first week of May and a probe is underway. Sangwan said in his complaint that Kangra Bank holds a current .

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They will soon take a call on tech spending

Scared of online scams and money laundering? Learn how to deal with them

Online scams and money laundering are not a recent phenomenon. But it is back in the news again

If you are offered an excessively attractive sum for this purpose, be warned

The National Commission observed that there was a security breach of the bank's net banking system

Assessment of frauds have taken a shorter time because banks have the systems in place, says Rajesh Mirjankar

Arvind Kumar Sharma of the ruling Bharatiya Janata Party said on one hand the nation was moving towards Digital India while on the other hand, such fraudulent activities were taking place

In Maharashtra, people lost Rs 4.8 crore to bank fraud, while in Delhi people lost Rs 2.9 crore

You can switch on and switch off card usage using a new third-party mobile app, and also through the bank's own mobile app and internet banking channel

In 2016, 3,156 cases and 4,147 cases were registered in the September and December quarters, respectively