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Banks can’t make customer pay for fraudulent online transaction: HC

Banks can’t make customer pay for fraudulent online transaction: HC

Posted On : Thursday, October 17, 2019, 10:43 AM
The Kerala High Court on Wednesday said banks cannot recover the money withdrawn through fraudulent online transactions from cash credit and overdraft accounts of customers if it cannot be unequivocally proved that the customer was responsible for such transaction. In cases where frauds are established, banks will have to approach a civil court to recover the money from the persons responsible, the High Court said. However, if the loss is due to the customer’s negligence, she/he would have to bear the entire loss. To what extent the customer can be made responsible for such negligence is a matter of probe and adjudication through a civil suit, the HC added. The court issued the order on a petition filed by two businessmen from Kochi who lost `16.25 lakh and `23 lakh from their cash credit and overdraft accounts through fraudulent online transactions. The online thefts were committed by the fraudsters after obtaining a duplicate SIM card of the businessmen’s mobile phones, using their fake identity cards.
One-third of Indian businesses hit hard by internal, external fraud: Report

One-third of Indian businesses hit hard by internal, external fraud: Report

Posted On : Thursday, October 3, 2019, 10:51 AM
Nearly a third of Indian businesses experienced frauds by internal as well as external parties in the last 12 months, with data theft being the topmost fraud event, says a report. According to Kroll's annual global fraud and risk report, 33% of Indian companies suffered reputational damage due to third parties, while the global figure stood at 29 percent. The highest incidence of fraud was by way of data theft with nearly 41 percent of Indian firms affected by it in the last 12 months, compared to the global average of just 29 percent. As per the report, the main areas of concern for India going forward will be the growing risk from data theft (84 percent), reputational damage due to third-party relationships (81 percent) and adversarial social media activity (81 percent).
111 fraudulent hospitals 'shamed' under Ayushman Bharat

111 fraudulent hospitals 'shamed' under Ayushman Bharat

Posted On : Tuesday, October 1, 2019, 10:58 AM
Implementing the “name and shame" initiative for preventing fraud in Ayushman Bharat-Pradhan Mantri Jan Arogya Yojna (AB-PMJAY), the government has made public the names of 111 hospitals that were found involved in malpractices. Union Health Minister Harsh Vardhan while addressing the --Arogya Manthan— a two day national workshop organised by National Health Authority (NHA) to mark the first year anniversary of AB-PMJAY said that there is a zero-tolerance approach in the ambitious scheme. NHA is the nodal agency for implementation of PM-JAY. Nearly 1,200 cases of fraud have been confirmed and action has been taken against 338 hospitals in the AB-PMJAY, Vardhan had said, adding that FIRs have been lodged against six and penalties amounting to over Rs 1.5 crore have been levied.
Beware! North Korean hackers are watching your ATM transactions

Beware! North Korean hackers are watching your ATM transactions

Posted On : Tuesday, October 1, 2019, 10:15 AM
Cybersecurity firm Kaspersky has identified a new malware active in some of the Indian financial institutions that can steal confidential information like transaction details from the system and remotely control the infected devices. Kaspersky said the malware is created by Lazarus group controlled by North Korea's primary intelligence bureau. Lazarus was associated with Wannacry ransomware infections that affected several systems in India in 2017. It was also blamed for the 2014 cyber attack on Sony Pictures. The researchers have discovered ATMDtrack, a banking malware targeting Indian banks, that is designed to be planted on the ATMs to read and store the data of cards inserted into the machines. The researchers found more than 180 new malware samples which had code sequence similarities with the ATMDtrack.
About 200 fake Twitter handles impersonating senior Army officers

About 200 fake Twitter handles impersonating senior Army officers

Posted On : Thursday, September 19, 2019, 4:07 PM
The army has identified about 200 fake Twitter handles that have been impersonating senior army officers, including Army Chief General Bipin Rawat, and spreading propaganda on Jammu and Kashmir. The army with the help of the defence ministry and home ministry has reported the matter to Twitter, officials added. Twitter has shut down about 6o to 70% of these handles. Officials believe these handles to have the support of the Pakistan establishment and see this as a ‘twitter war’ started from across the border. They added that these handles came up after the Centre abrogated Article 370 that gave special status to J&K on August 5. There has been a 70 to 80% increase in such Twitter handles since over the past month, as compared to what it was in the months preceding August 5.
Names of hospitals involved in fraud under Ayushman Bharat to be made public

Names of hospitals involved in fraud under Ayushman Bharat to be made public

Posted On : Wednesday, September 18, 2019, 11:46 AM
The hospitals found involved in any fraud under government’s health scheme Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) would be named and shamed, union health minister Harsh Vardhan said. The minister said that the government has already de-empanelled 97 errant hospitals and penalties worth more than Rs.1.5 crore have been levied. Nearly 1,200 cases of fraud have been confirmed and action has been taken against 338 hospitals. The names of the hospitals involved in any corruption would be put up on the official website of PMJAY and made public. The idea is to name and shame them," said Harsh Vardhan.
Over 419mn Facebook users' phone numbers exposed online

Over 419mn Facebook users' phone numbers exposed online

Posted On : Friday, September 6, 2019, 6:00 PM
In yet another data breach, over 419 million phone numbers linked to Facebook users have been discovered in an open online database. The database included 133 million records of US-based Facebook users, 18 million records of UK users and more than 50 million records of users in Vietnam, TechCrunch reported. This latest data breach exposed millions of users` phone numbers just from their Facebook IDs, putting them at risk of spam calls and `SIM-swapping` or `SIM jacking` where a mobile number is transferred to a new SIM card. Sanyam Jain, a security researcher at The Hague-based non-profit organisation GDI Foundation, found the database. After the web host was contacted, the Facebook users` database was pulled offline.
Beware of this fake RBI lottery

Beware of this fake RBI lottery

Posted On : Thursday, September 5, 2019, 11:12 AM
The Madhya Pradesh police arrested a father-son duo from Delhi for duping people using the name of the Reserve Bank of India (RBI). The father-son duo is associated with a gang adept at using the RBIs name to dupe people across the country. The gang duped Pramod Kumar, a resident of Ujjain, saying he was selected under a RBI scheme, which will provide him a profit of Rs 1.68 crore. But, he was asked to deposit the amount of tax deduction at source (TDS) in the government treasury to get this benefit. A woman associated with this gang told the victim on phone that she is part of the RBI Governor's personal staff. She told the victim to deposit the money in different bank accounts to get this benefit. Different gang members called victim between 2014 and 2018 and made him deposit Rs 23.62 lakh in multiple bank accounts.
Man held for posing as WHO official, cheating people

Man held for posing as WHO official, cheating people

Posted On : Monday, August 26, 2019, 12:33 PM
The Mangaluru police have arrested a man who allegedly cheated several people by posing as a top WHO official, and his driver. Basit Shah alias Shaukat Ahmed Lone (30) and his driver Baljinder Singh (48) were held on Saturday. During questioning, Basit Shah said he had been posing as WHO director and cheating people in many states. Shah initially claimed that he belonged to Mumbai. However, police enquiries revealed that he was using a fake name and that he belonged to Kashmir and his original name was Shaukat Ahmed Lone. The Commissioner said the accused ran a matrimonial site and cheated and exploited many women from Goa, Mumbai, Chhattisgarh, Punjab, Jharkhand and other states besides Karnataka.
Phishing is the most common way to steal information

Phishing is the most common way to steal information

Posted On : Friday, August 23, 2019, 2:49 PM
Cybercriminals have taken to phishing as the most common way to steal information, through increased sophistication and well-crafted emails, according to a report prepared jointly by consultancy EY and industry body FICCI. Malware attacks on mobile devices come next on the list as they allow quick getaways, the report says. Customer information, financial data and strategic plans of companies are the three most valuable pieces of information coveted by cybercriminals, according to the report titled ‘Innovation-led cyber crime management’. India ranks among the top five globally for the most high-profile cyber-attacks, with more than 90% of hackers under the age of 35, out of which 58% are self-taught, which means technical education is not relevant, the report points out.
Don't buy insurance from this fake website: IRDAI

Don't buy insurance from this fake website: IRDAI

Posted On : Monday, August 19, 2019, 1:29 PM
The Insurance Regulatory and Development Authority of India (IRDAI) issued a notice warning the public not to buy insurance policies from this fake website: www.irdaionline.org. In the same notice, the insurance regulator also clarified that it does not sell insurance products. Notice issued by IRDAI is titled "Fake website irdaionline.org available on the internet" and states: "A website using domain name- www.irdaionline.org is selling insurance to the public. This domain name is not authorized by the Authority (IRDAI). Please note that IRDAI authorized website is having domain name www.irdaonline.org and this website is hosting Centralized Agency Portal. The Authority will take action against any entity that tries to sell insurance without having proper registration. IRDAI does not sell any insurance products."
Matrimony frauds trap NRIs, divorcees, and widowers

Matrimony frauds trap NRIs, divorcees, and widowers

Posted On : Monday, August 12, 2019, 2:45 PM
NRI men, divorced, widowed women are easily falling prey to matrimony frauds in the recent past said the Cyber Crime Police. In one of the recent cases, a 44-year-old divorced woman was cheated by a Nigerian on an online matrimonial portal after she had joined the online portal last year, after being separated from her husband, TOI reports. “Fraudsters have been targeting women, who are in the age group of 35 to 50 years, and are widowed, divorced or looking for a partner on online matrimonial portals,” the ACP explained. Not only women but NRI grooms too are falling in the trap of these community matrimony portals. In another case, a US-based man from Hyderabad was cheated of Rs 4 lakhs by a woman he wanted to marry after he met her on one of the online matrimony portals.
Mantri Developers booked for cheating

Mantri Developers booked for cheating

Posted On : Monday, July 29, 2019, 4:17 PM
A city-based businessman is among three investors who have filed complaints against Mantri Developers Pvt. Ltd. for allegedly cheating them of Rs 1 crore each by promising flats that would be delivered in 2016. The victims made a down payment of Rs 25 lakh, took Rs 75 lakh as loan and even paid EMIs for two years. However, neither was the flat given to them nor was the money returned, said Satyan R. Chawla, one of the complainants. The firm had promised them residential flats at Mantri Web City apartment complex on Hennur main road. Hundreds of customers made down payments and took loans for the rest of the money through a financial firm in 2014, the complainants said.
Two B Tech graduates held for cheating jobless youth

Two B Tech graduates held for cheating jobless youth

Posted On : Friday, July 26, 2019, 5:39 PM
The West Zone Task Force officials at Hyderabad arrested two persons on charges of cheating innocent people in the guise of providing jobs in State Bank of India and in Railway Department. The police seized net cash of Rs 13 lakh, Fake appointment letters of SBI, Railway, DRDO, Singareni, GVK, 50 cheques of different banks and four cell phones from the possession of the accused. According to Task Force officials, accused G Pradeep (26) and E Aditya (35) allegedly cheated innocent people in the name of providing jobs in State Bank of India as Clerk and Probationary Officers and in Railway Department as Group-C, Group-D, Junior Engineer and Station Master by collecting huge amount of money from them.
Maharashtra tops in ATM frauds, Delhi, Tamil Nadu, Karnataka follow

Maharashtra tops in ATM frauds, Delhi, Tamil Nadu, Karnataka follow

Posted On : Monday, July 22, 2019, 6:16 PM
Maharashtra reported 233 cases of ATM fraud in 2018-19, the highest in the entire country, Reserve Bank Of India (RBI) data, accessed by TOI, revealed. The data showed that Delhi grabbed the second spot with 179 cases, followed by Tamil Nadu with 147 cases of ATM fraud. In Maharashtra, people lost Rs 4.8 crore to bank fraud, while in Delhi people lost Rs 2.9 crore. The country witnessed an increase in ATM fraud cases in general (up from 911 to 980). Assam, Arunachal Pradesh and Tripura were the only three states that didn’t report a single incident. However, the money lost came down from Rs 65.3 crore in 2017-18 to Rs 21.4 crore in 2018-19.

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