Cyber Fraud Transactions

CBI chargesheets accused for deceiving investors in fraud deposit scheme

CBI registered the instant case against the private firm, its proprietor, charge sheeted accused

Meesho acts against 22 mn suspicious transactions, files 12 cases in a yr

SoftBank-backed e-commerce platform Meesho has acted against 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company's annual report released on Monday. Meesho's 'Trust Assurance Report' said that it's team has developed pioneering analytical models, sophisticated data science frameworks, and advanced computational logic, which has helped prevent 13 lakh bot orders and blocked 77 lakh scam attempts from accessing the company's platform. "In the last 12 months, Meesho has prevented over 2.2 crore fraudulent transactions. Additionally, Meesho undertook extensive steps to remove bad actors from the platform," the report said. The report said that as part of its effort against account takeover fraud, Meesho launched a proactive investigation that led to filing of 9 cases against over 40 suspects in Kolkata and Ranchi. "By working closely with authorities, Meesho achieved an impressive 98 per cent success rate in addressing ..

Centre freezes 450,000 'mule' bank accounts used in cyber fraud schemes

The Citizen Financial Cyber Frauds System found 40,000 mule accounts in SBI, 10,000 in PNB, 7,000 in Canara, 6,000 in Kotak Mahindra, and 5,000 in Airtel Payments Bank

Delhi court grants bail to 9 persons accused in $15 mn cyberfraud case

In July this year, the CBI arrested 43 accused people from a Gurugram call centre in connection with the case

Stay scam-free: This series of phone numbers will help you spot fraud calls

The Department of Telecom has designated the prefix '160' for 10-digit numbers, which will be utilised by govt agencies, regulatory bodies, and financial institutions to communicate with the public

Bank frauds rise 166% in FY24 to over 36,000 cases, shows RBI annual report

RBI annual report: Amount involved in bank frauds decreased 46.7% in FY24 to Rs 13,930 cr

RBI plans curbs on suspect bank accounts to fight cyber fraud: Report

The suspensions would target accounts frequently misused to transfer funds gained from cyber crime, both government sources said

Around 1.1 million financial fraud cases registered in 2023, shows data

Uttar Pradesh was at the top with around 200,000 cases, the highest across 36 states and union territories. Next was Maharashtra with 130,000 complaints reported, followed by Gujarat (120,000)

IndiGo Scam: Noida man loses 8 tickets worth Rs 72,600 after sharing PNR

A software engineer lost eight tickets worth Rs 72,600 as he shared his PNR with an airline trainee. The company refunded after he informed IndiGo about the scam

New cyber crime trend unravelled in UP, woman held under 'digital arrest'

The Uttar Pradesh Police has launched an investigation after a Noida resident found herself at the receiving end of a new cyber fraud trend, wherein she was duped of more than Rs 11 lakh and held under "digital arrest" for a day, officials said on Saturday. This is the first case in the new trend of "digital arrest fraud" lodged at the Cyber Crime police station in Noida. The thugs posed as police officials who mentioned the names of an IPS officer in the CBI and the founder of a grounded airline, associating the 50-year-old victim in a fictitious money-laundering case. A similar case was recently reported in Haryana's Faridabad where cyber thugs, posing as police personnel, got a woman "digitally arrested" for more than a week after convincing her that her personal IDs were used for illegal activities. The thugs then asked her to stay online via Skype and not share this information with anyone even as they kept a watch on her throughout the period. In her complaint, the Noida-based

Govt suspends 7 million mobile numbers due to suspicious transactions

To check digital frauds, the government has suspended 70 lakh mobile numbers on account of suspicious transactions, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging out of a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January. With regard to Aadhaar Enabled Payment System (AEPS) fraud, he said states have been asked to look into the issue and ensure data protection. He also said that there was a discussion with regard to KYC standardisation of merchants. The meeting chaired by the Financial Services Secretary also deliberated on how to ensure better coordination among various agencies to check cyber fraud. Joshi said there was a need to create awareness about cyber fraud in society to protect gullible customers from being duped. During

Card and internet fraud cases up 257% since Covid-19 pandemic began

There was a 289% jump in the amount defrauded through these modes, while the amount swindled through cash frauds increased 182%

Here's how banks are coping with surge in cyber attacks, phishing, fraud

An RBI report on financial stability highlighted that the overall number of online banking frauds and card frauds increased from 1,532 in H1FY22 to 2,321 in H1FY23

Web series 'Jamtara' inspires cyber thugs, 7 cases reported from Lucknow

According to police reports, at least seven cases have been reported from the city in the last 20 days where people were duped by miscreants posing as army men or from the paramilitary forces.

Customers must report unauthorised transactions immediately: SBI chief

Warning against mounting cyber crime cases across the country, State Bank of India (SBI) Chairman Dinesh Kumar Khara said customers should be informed to report any unauthorised transaction immediately so that it can be checked timely. Khara asserted that customer service should be given the utmost priority and urged customers of the bank to remain aware for checking the rise of cybercrime cases. "They should inform them that unauthorized transactions, if any, should be immediately informed to toll-free number 18001-2-3-4 so that proper action can be taken on time," an SBI release said on Friday. The SBI chairman arrived here on Thursday to take part in various Corporate Social Responsibility (CSR) initiatives of the lender. He also explained how the bank is providing a high level of service to customers through the YONO app and other digital mediums. Khara appreciated the use of YONO among the customers and said "we are giving better service to the customers through digital ...

42% Indians experienced financial fraud in last three years: Report

While digitisation of payments and banking has benefitted both common people and government, financial fraud has been on the rise, with nearly 42 per cent of Indians becoming victims in last 3 years

Hackers steal $323 mn in crypto from cross-chain protocol Wormhole

Wormhole is a platform that allows users to transfer cryptocurrency across different blockchains.

Paytm Payments Bank to help spot apps that may trigger fraud transactions

It is also leveraging artificial intelligence to immediately identify and block suspicious activities

Customers have zero to limited liability in unauthorised transactions: RBI

In the absence of deterrents, many banks are not adhering to guidelines