Scam Alerts

 
Couple held for cheating people through fake maid agency

Wednesday, January 22, 2020, 10:34 AM

Couple held for cheating people through fake maid agency

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.

Real Life Stories

 
Six people from Maharashtra lost Rs 5 lakh to KYC fraud

Friday, January 3, 2020, 7:03 PM

Six people from Maharashtra lost Rs 5 lakh to KYC fraud

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.

Scam Alerts

 
Bank frauds rise to record Rs 1.13 lakh cr in H1 FY20

Monday, December 30, 2019, 9:03 AM

Bank frauds rise to record Rs 1.13 lakh cr in H1 FY20

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.

Scam Alerts

 
30,000 kg fake cumin made from broom bits seized

Tuesday, December 10, 2019, 1:50 PM

30,000 kg fake cumin made from broom bits seized

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."

Real Life Stories

 
Two people from Pune lost Rs 9.71 Lakh to an online gift card fraud

Monday, December 2, 2019, 5:32 PM

Two people from Pune lost Rs 9.71 Lakh to an online gift card fraud

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.

Brand Updates

 
Corporate fraud worth Rs 26,757 crores at SBI in just seven months

Monday, December 2, 2019, 11:38 AM

Corporate fraud worth Rs 26,757 crores at SBI in just seven months

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.

Blog

 
How emotional investing can lead to fraud?

Tuesday, October 22, 2019, 2:20 AM

How emotional investing can lead to fraud?

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 ...

Brand Updates

 
OYO, Zomato and Other Unicorns Come Together To Fight Online Fraud

Thursday, October 3, 2019, 11:15 AM

OYO, Zomato and Other Unicorns Come Together To Fight Online Fraud

In the face of increasing online frauds leading to financial losses, Indian tech giants have decided to come together to address the issue and save customers from such cybercrimes. A TOI report, citing people aware of the development, said that the companies who have taken cognizance of the issue are MakeMyTrip, OYO, Paytm, Swiggy, Zomato, and Uber. Last week, the companies together met the Reserve Bank of India (RBI) representatives and made a joint representation on the issue. The presentation also addressed the plan on how to curb these online frauds, which are reportedly engineered via fake toll-free numbers and serial bank account generators. These companies also shared a database of about 4,000 SIM card numbers and 350-400 bank account numbers with the RBI, State Bank of India (SBI) and the telecom companies. The tech giants have also reached out to Google about how its search engine is used by cybercriminals to make their fake toll-free numbers appear on top of search results.

Scam Alerts

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

Thursday, October 3, 2019, 10:51 AM

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

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).

Blog

 
Victim of card fraud? Things you must do immediately

Friday, September 13, 2019, 6:57 PM

Victim of card fraud? Things you must do immediately

Debit and credit card usage is rising in India. These cards are accepted at almost all places. You c ...

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