Tuesday, March 3, 2020, 12:48 PM
Three persons were arrested from a five-star hotel in Mumbai for allegedly cheating a businessman to the tune of Rs 80 lakh under the pretext of offering him new banknotes of Rs 2000 denomination at half the rate through their 'money exchange', police said on Monday. The accused have allegedly cheated many people from Mumbai, Delhi, Kolkata and other parts of the country by employing a similar modus operandi in which they would claim to have "contacts" in the Central government. The trio used to claim that they run a money exchange, a crime branch officer said, adding that they were arrested on Saturday.
Monday, March 2, 2020, 5:42 PM
In frauds related to debit cards, credit cards, and internet banking, Rs 129 crore has been lost in just three months to December 2019. A total number of 21,041 such cases were registered in these three months, Anurag Thakur, MoS, Ministry of Finance said in a reply to a question in Lok Sabha. Out of the total loss, Rs 85 crore was lost in a single month of October 2019. The maximum cases were reported in the cases related to ATM or debit card transactions, which is still one of the most common and convenient ways of payment available in the market.
Tuesday, January 28, 2020, 4:51 PM
SBI's has introduced a new feature to reduce frauds The number of people using debit and cred ...
Wednesday, January 22, 2020, 10:34 AM
A man and his wife have been arrested for allegedly cheating people on the pretext of providing them domestic help, in south-east Delhi’s Kalkaji, the police said. They used to charge a hefty amount for providing the help, who used to flee after stealing valuables from the house, an officer said. Both Gaurav Mandal (24) and his wife Sita (22) were nabbed following a tip-off from Tughlakbad Village, they said. On Saturday, a woman lodged a complaint alleging that she had hired a domestic help from an agency — Greater Kailash Maid Service — through its owner, Gaurav. She said that at 2.40 p.m., a man named Chandu came to her house with Sita and introduced her as a help. “Chandu took Rs 33,000 from the complainant as commission. At 7 p.m., the help left the house without the complainant’s knowledge. The victim later found that no such maid service agency existed,” said DCP (South-East) Chinmoy Biswal.
Friday, January 3, 2020, 7:03 PM
Six people in Maharashtra's Thane city have been duped of Rs 5.04 lakh allegedly from persons posing as Paytm employees. One of the complainants told the police that on December 29, he got a call from a person, who claimed to be from the Paytm team and asked him to update his KYC. The caller asked the complainant to download the 'Quick Support' app on his mobile phone and make a payment of Rs 10 on it for updating the KYC. He also asked the complainant to share his Aadhaar and PAN numbers, which the victim did. The complainant then got several messages over the next two days of withdrawals collectively worth Rs 1.2 lakh from his bank account in the denominations of Rs 9,999, Rs 4,999 and Rs 2,999. The six victims were allegedly duped of Rs 5.04 lakh by fraudsters using similar modus operandi.
Monday, December 30, 2019, 9:03 AM
Frauds reported by banks during the first half of the current fiscal touched an all-time high amount of Rs 1.13 lakh crore, owing to delay in detection by lenders, according to an RBI report. This involved 4,412 fraud cases of Rs 1 lakh and above, as per the report. In FY19, banks had reported 6,801 cases of fraud involving Rs 71,543 crore. "An analysis of the vintage of frauds reported during the FY19 and H1 FY20 shows a significant time-lag between the date of occurrence of a fraud and its detection," RBI's Financial Stability Report said. The amount involved in frauds that occurred between FY01 and FY18 formed about 90.6% of the frauds reported in 2018-19 in terms of value.
Tuesday, December 10, 2019, 1:50 PM
The police have recovered 30,000 kg of fake cumin seeds (jeera) made by using pieces of coconut broom bits, molasses, grass and stone powder in Uttar Pradesh's Rae Bareli. The police has lodged an FIR against seven people in the case and initiated a probe. Officials said that the seized stock could have been sold for Rs 60 lakh in the market. Police officers recovered 30,000 kg of fake 'cumin seeds' that was to be transported to different cities in the state after being mixed with real cumin. Maharajganj Deputy Superintendent of Police Vineet Singh said: "The fake cumin seeds were recovered during a raid at a makeshift jaggery plant in Maharganj area of the district. The fake cumin seeds were mixed with real cumin seeds in 80 to 20 ratio, before being sold to different traders."
Monday, December 2, 2019, 5:32 PM
Two victims from Pune lost Rs 9.7 Lakhs to online fraudsters who posed as employees of an online portal. A Fraudster called one of the victims and told her that she has won a Maruti Alto car in a lucky draw held by their online shopping portal. In order to get the car delivered, she was asked to pay Rs 2,53,905 towards Services Tax (GST), no-objection certificate (NOC), car insurance and income tax. She transferred the amount to multiple accounts within a span of 15 days. Another victim received a call from a fraudster who told him that he had won a gift from an online money transfer portal. The caller told the victim that he could either choose Rs 12,60,000 in cash or a Hyundai Creta car. In order to receive the cash gift, the victim was asked to transfer Rs 7,17,350.
Monday, December 2, 2019, 11:38 AM
Corporate frauds worth Rs 26,757 crores have been reported at State Bank of India (SBI), the largest public sector bank of India, in the first seven months of this fiscal year. According to the data disclosed by the SBI itself, the number of frauds at SBI have almost trebled during this period in comparison with the last financial year. The Economic Times has reported that data disclosed in the initial public offering (IPO) document of the SBI Cards suggests that while corporate fraud worth Rs 10,725 crores was reported in whole FY 2018-19, in the current financial year between April and November, SBI has recorded corporate fraud worth Rs 26,757 crores.
Tuesday, October 22, 2019, 2:20 AM
How emotional investing can lead to fraud? Most of the frauds that take place these days are due to emotions. Fraudsters cheat people using psychol ...