Page 4 - Financial Fraud
India inspects Carlsberg accounts for alleged impropriety: Report
The Registrar of Companies has issued a notice to Carlsberg India seeking its response and is preparing to summon the board of directors soon
 "India inspects Carlsberg accounts for alleged impropriety: Report")
Mahatma Gandhi's great-granddaughter sentenced to 7 yrs in jail in S Africa
A 56-year-old great-granddaughter of Mahatma Gandhi, who was an accused in a six-million rand fraud and forgery case, has been sentenced to seven years in jail by a Durban court
 "Mahatma Gandhi's great-granddaughter sentenced to 7 yrs in jail in S Africa")
Govt likely to drop plan to decriminalise cheque bounce offences
It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call
 "Govt likely to drop plan to decriminalise cheque bounce offences")
Govt to set up intelligence unit to tackle pesky calls, financial frauds
The telecom ministry will set up an intelligence unit and a consumer protection system to tackle pesky calls, financial frauds
 "Govt to set up intelligence unit to tackle pesky calls, financial frauds")
Sebi probed 161 new cases in 2019-20; a decline of 17% from last year
A total of 161 fresh cases were taken up for investigation by Sebi in 2019-20, as per the regulator's latest annual report
 "Sebi probed 161 new cases in 2019-20; a decline of 17% from last year")
Uttarakhand CM orders probe into irregularities in animal husbandry dept
Gandhi had recently written to the chief minister alleging misappropriation of funds in the board in the purchase of food for sheep and goats in Uttarkashi and Pithoragarh districts
 "Uttarakhand CM orders probe into irregularities in animal husbandry dept")
RBI forms working group on digital lending as frauds come into sharp focus
The group will suggest steps to regulate digital lending including online lending platform and mobile lending
 "RBI forms working group on digital lending as frauds come into sharp focus")
Some tips to limit damage if you've fallen prey to financial data theft
Breaking down the steps you can take if your information is stolen and how you can limit your exposure to fraud
 "Some tips to limit damage if you've fallen prey to financial data theft")
Ex-Microsoft engineer gets nine years in prison for stealing $10 million
At his sentencing hearing, US District Judge James Robart said Kvashuk "didn't have any respect for the law"
 "Ex-Microsoft engineer gets nine years in prison for stealing $10 million")
Best of BS Opinion: Financial offences, new MPC's first policy, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: Financial offences, new MPC's first policy, and more")
Financial offences? Pay a small change, and carry on
Scams, misconduct, and misdemeanours happen with high regularity not because these are inevitable, but because the price of getting caught is insignificant
DHFL used multiple software to hide fraudulent deals: forensic report
FoxPro used to show disbursements, receipt of funds from over 260,000 fictitious borrowers
 "DHFL used multiple software to hide fraudulent deals: forensic report")
Top headlines: Tata-Mistry shares' dispute, India trials for Russia vaccine
Business Standard brings you the top headlines of the day
 "Top headlines: Tata-Mistry shares' dispute, India trials for Russia vaccine")
YES Bank case: ED slaps Rs 5,500-crore kickback charge on Rana Kapoor
Charge sheet filed against YES Bank co-founder
 "YES Bank case: ED slaps Rs 5,500-crore kickback charge on Rana Kapoor")
I-T detects Rs 735-cr financial fraud in raids on BMC contractors
The operation "also led to the detection of the use of bogus companies (floated by entry providers) for giving entries to businesses in the form of loans or bills for expenses, among others".
 "I-T detects Rs 735-cr financial fraud in raids on BMC contractors")
SFBs and Payments Banks' physical approach, financial literacy reduce fraud
Despite reducing paperwork and simplifying processes, most customers require assistance, thereby concentrating transactions at physical branches.
 "SFBs and Payments Banks' physical approach, financial literacy reduce fraud")
