Fraudsters

SC grants bail to SRS group head Anil Jindal in Rs 770 crore fraud case

The Supreme Court on Wednesday granted bail to SRS Group chairperson Anil Jindal in an alleged fraud case involving Rs 770 crore being investigated by the serious fraud investigation office. A bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar observed that Jindal had been in jail for the last six-and-half years and the trial in the case was yet to begin. The CJI said though the offence was grave, the fact that the accused had been in prison for so many years that too without any trial couldn't be overlooked. The bench remarked that Jindal may be granted a 10-year jail term, in case he was convicted. Imposing a slew of bail conditions, the bench directed Jindal, represented by senior advocate Maninder Singh, to surrender his passport with the trial court and provide his contact numbers to the SFIO so that his whereabouts could be ascertained by the investigating officers. The bench further asked the accused to provide details of immovable properties, bank accoun

Govt blocks 1,700 Skype, 59K Whatsapp IDs used in 'digital arrest' fraud

The Indian Cyber Crime Coordination Centre (I4C), a wing of the Ministry of Home Affairs, has identified and blocked more than 1,700 Skype IDs and 59,000 WhatsApp accounts used for digital fraud, Lok Sabha was informed on Tuesday. Union Minister of State for Home Affairs Bandi Sanjay Kumar also stated that the Citizen Financial Cyber Fraud Reporting and Management System,' launched under I4C in 2021, enables immediate reporting of financial frauds to prevent the siphoning off of funds by fraudsters and so far, over Rs 3,431 crore has been saved in more than 9.94 lakh complaints. "The I4C has pro-actively identified and blocked more than 1,700 Skype IDs and 59,000 WhatsApp accounts used for digital fraud, Kumar said in response to a written question. As of November 15, 2024, more than 6.69 lakh SIM cards and 1.32 lakh IMEIs, as reported by police authorities, have been blocked by the government. The minister further explained that to strengthen the mechanism for addressing cyber ...

Kerala pension fraud: Officials uncover BMW owners among beneficiaries

The latest instance of malpractice was reported from the Kottakkal Municipality in Malappuram district of Kerala, where a targeted audit revealed 38 out of 42 pension recipients were ineligible

Most employees say candidates are partly to blame for job scams: Report

Over 75 per cent of respondents feel that candidates are partly responsible for falling prey to scams due to their failure to verify company's credentials before making payments or sharing sensitive personal information, a report said on Saturday. A substantial 75 per cent of surveyed employees indicated that many job seekers fail to exercise the necessary caution when engaging with potential frauds posing as employers or recruiters, the report by workforce staffing and HR services provider Genius Consultants said. The report by Genius Consultants is based on a survey of 1,427 employees across sectors including FMCG, Technology, Manufacturing, Telecom, E-Commerce, Logistics, Real Estate, and BFSI (Banking, Financial Services, and Insurance). Further, the report revealed that while 28 per cent of respondents believed that there have been serious steps taken by the government or regulatory bodies to curb such frauds, a significant 55 per cent disagreed saying there has been inadequate

BS BFSI Summit: Banking experts emphasise customer vigilance on cyber fraud

Banking industry leaders highlight growing cybersecurity challenges and customer education efforts while speaking with Manojit Saha at Business Standard BFSI Insight Summit

Delhi court acquits ex-MLA Ranbir Kharb, wife Anita in investor fraud case

A Delhi court on Wednesday acquitted former MLA Ranbir Singh Kharb and his wife Anita Kharb in a case of defrauding investors between 1998 and 2004. Special Judge Kaveri Baweja passed the order on an appeal filed by the Kharbs against an order by a magisterial court, which had convicted the couple and sentenced them to a seven-year jail term. The special court said there were "glaring contradictions" and "discrepancies" in the prosecution's case which the trial had failed to appreciate. "On the basis of evidence on record and the discrepancies discussed... I am of the considered opinion that the appellants could not have been convicted for the alleged offences... Both the appellants are accordingly acquitted," the judge ordered. The bench said the prosecution had failed to bring home the guilt of the appellants beyond the realm of reasonable doubt. Ranbir Singh Kharb, 62, and Anita Kharb, 56, had approached the special court against the order of the magisterial court, saying that

Want to visit Kedarnath? Pilgrims must be aware of helicopter ticket fraud

A total of 47 heli-ticketing fraud cases worth Rs 10 lakh were reported during 2023-2024 in which three persons have so far been arrested. Recovery in the fraud cases so far has been nil.

Hackers using fake trading apps to lure victims in 'pig butchering' scam

Using a series of fraudulent trading apps, which were available for download on both the Google Play Store and Apple's App Store, hackers have duped thousands of people

RBI cautions against fraud, warns against sharing OTP and KYC details

The RBI also detailed various modus operandi used by fraudsters

RBI calls on lenders to hear borrowers before declaring account fraud

Move follows SC ruling for complying with principles of natural justice

RBI red flags 'lakhs' of accounts used for fraud and evergreening

Says nudging NBFCs to enhance disclosure quality

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

Indian-origin man in Singapore charged for cheating staff of Prez, Parl

An Indian-origin man faces three counts of cheating by personation staff at the President's Office, the Ministry of National Development and Parliament. Prakash Paramasivam, 24, who appeared in the court on May 17, allegedly posed as a Singapore Prison Service staff member to send emails to President Tharman Shanmugaratnam, National Development Minister Desmond Lee and to the Parliament. He allegedly e-mailed the Parliament on February 16 and Lee two days later, followed by another email sent to President Tharman on Feb 24, according to a report by The Straits Times. Court documents did not disclose the contents of the e-mails or why Prakash allegedly sent them. His case will be mentioned again in court on June 20. For each count of cheating by personation, an offender can be jailed for up to five years and fined.

Every Rs 1,000 lost to fraud in India costs firms Rs 4,000: LexisNexis

Fraud has increased for 54% of Indian organisations year-on-year, according to LexisNexis True Cost of Fraud Study - Asia Pacific

Delhi Police warns residents amid spike in 'digital house arrest' cases

Cyber crooks are now adopting a new modus operandi called 'digital house arrest', causing serious concern for Delhi Police with over 200 such cases recorded every month in the national capital, officials said. According to a police officer, 'digital house arrest' refers to a fraud where impostors impersonating law enforcement officers deceive the victims into believing that their bank account, SIM card, Aadhaar card, or other cards linked to their bank account has been used unlawfully. The fraudsters then virtually restrain the victims from moving out of the house and coerce them into paying them money, the officer said. "Digital house arrest has become a major concern nowadays. However, our special unit only investigates those cases where the cheated amount is above Rs 50 lakh," a senior police officer of the Intelligence Fusion and Strategic Operations (IFSO) unit of Delhi Police said. The officer said such 'cyber thugs' are technically sound and know how to convince their target

Mkt regulator Sebi warns investors against fraudsters claiming to be FPIs

This is the second caution against fraudsters in this month. This follows several complaints regarding such activities and entities

Do not share documents with unknown entities for KYC updation: RBI

The Reserve Bank of India on Friday cautioned the public against fraud in the name of KYC updation and advised not to share documents with unknown entities. In the wake of continuing incidents and reports of customers falling prey to frauds being perpetrated in the name of KYC updation, RBI urged the members of the public to exercise caution and due care to prevent loss and safeguard themselves from such malicious practices. In past also the central bank has cautioned the public regarding such frauds. "Do not share KYC documents or copies of KYC documents with unknown or unidentified individuals or organizations," it said. Also, do not share account login credentials, card information, PINs, passwords, OTPs with anyone, the RBI added. "The modus operandi for such frauds usually involves customers receiving unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, or installing ...

Govt warns users against dialling '*401#' followed by unknown mobile number

The Department of Telecom on Thursday issued an advisory to users warning against malicious calls that ask them to dial '*401#' followed by an unknown mobile number. In case a user dials '*401#' followed by an unknown number, then it leads to activation of unconditional call forwarding received on the mobile of the user to the unknown mobile number. "The Department has advised citizens to beware of receiving malicious incoming calls asking them to dial *401# followed by some unknown mobile number. "This activates unconditional call forwarding received on the mobile of citizens to the unknown mobile number. This allows fraudsters to receive all incoming calls and can be used for fraud," the statement said. Explaining the modus operandi of the scam, the DoT said a fraudster will call a telecom subscriber and pretend to be a customer service representative or technical support staff from their telecom service provider. The fraudster then states that either there is a problem with the

Telecom department blocks more than 1,500 numbers linked to cyber threats

The Department of Telecommunications (DoT) blocked international and local phone numbers associated with cybercrimes and threats, aiming to curb misuse of telecom resources

Indian-origin realty developer booked for perpetuating $93 mn fraud scheme

An Indian-origin real estate developer has been charged by federal authorities in the US with perpetuating a USD 93 million fraud scheme. Rishi Kapoor, a Miami-based developer, faces charges filed by the Securities and Exchange Commission Wednesday. The SEC announced that it obtained an asset freeze and other emergency relief concerning the alleged USD 93 million real estate investment fraud perpetrated by Kapoor. The SEC also charged real estate company Location Ventures, its affiliate Urbin and 20 other related entities in connection with the fraud scheme, a statement said. According to the SEC's complaint, from approximately January 2018, until at least March 2023, Kapoor and certain of the defendant entities solicited investors by, among other things, making several material misrepresentations and omissions regarding Kapoor, Location Ventures, Urbin, and their real estate developments. The false statements allegedly included misrepresenting Kapoor's compensation; his cash ...