Financial Scams

'Black widow' scam in Russia: Fake brides loot dead soldiers' payouts

Scammers and even organised groups have started targeting lonely soldiers, making them sign fake marriage papers before they go to war

Digital arrests: Inside India's biggest scam and how to tackle it

Damage caused by the rise of the digital-arrest con, which has found fertile ground amid the country's soaring youth unemployment, endemic corruption and glaring wealth inequality, runs deep and wide

More customers now rely on social media platforms for financial decisions

At least 53 per cent of users on Facebook and 57 per cent on Instagram say that such media formats influence financial decision making

SC cancels bail granted to Dheeraj Wadhawan in multi-crore loan scam case

The Supreme Court on Tuesday cancelled bail granted to former DHFL promoter Dheeraj Wadhawan in the multi-crore bank loan scam case. A bench of Justices Sanjay Kumar and Satish Chandra Sharma passed the order after perusing the report filed by a medical board and directed Wadhawan to surrender within two weeks. The Delhi High Court on September 9, 2024 granted him bail on medical grounds saying Wadhawan fell within the parameters of a "sick person". The order came on an appeal filed by the CBI appeal against the high court order. Additional Solicitor General S V Raju, representing the agency, had earlier said said Wadhawan suffered from no serious medical ailments and huge amounts of money were siphoned off in the case. The Wadhawan brothers -- Kapil and Dheeraj-- were arrested in this case in July 2022. The agency filed a chargesheet in October 2022 following which a court took its cognisance. The FIR was registered on a complaint made by the Union Bank of India, which alleged

How to identify a scam before it happens? Vijay Kedia has some suggestions

Shares of Gensol Engineering hit the 5 per cent lower circuit for the 16th consecutive session on Thursday

Urban co-op banks must be mindful of trust reposed by depositors: RBI Guv

RBI Governor Sanjay Malhotra advised the UCBs to ensure that they remain operationally resilient, including against IT and cyber-related risks

Thousands of Indian investors lose nearly $100 mn in Ponzi scheme: Police

Indian police arrested two individuals on Saturday after a case was filed against Falcon Invoice Discounting, which promised returns of up to 22 per cent

HPZ Token scam: Fintechs deny reports of ED probe, freezing of accounts

The chargesheet has named 298 individuals in what could one India's largest cryptocurrency scams: The HPZ Token scam, operated by 10 Chinese nationals

Got a wedding invitation via WhatsApp? Beware of this latest scam

A victim in Rajasthan lost Rs 4.5 lakh after opening a fake wedding card PDF

46 people duped of Rs 26 lakh in gas connection scam: How it unfolded

The fraudsters sent a text message to customers of Avantika Gas on their mobile phones stating that their gas connections will be disconnected by 9 PM as they have not paid the bill

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

19 family members dupe Maharashtra brothers of Rs 1 crore in crypto scam

Maharashtra police have booked 19 family members for allegedly scamming two siblings out of over Rs 1 crore in a cryptocurrency fraud, promising returns of up to 12 times on their investments

'Avoid shady trading apps': NSE, BSE íssue alert against trading scams

In an advisory issued for investors, NSE and BSE specified that fraudulent actors are using both Indian and international phone numbers to orchestrate their schemes

Trading fraud costs 272 Pune residents Rs 125 crore since January 2024

Cybercriminals target people using social media, offering them fraudulent investment opportunities, promising extraordinarily high returns

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

Govt cracks down on SMS scammers, blacklists principal entities involved

In a major crackdown on SMS scammers, the government has blacklisted 'principal entities' behind SMS headers that were used for sending over 10,000 fraudulent messages over the past three months, according to an official release. The Department of Telecom (DoT), in collaboration with the Ministry of Home Affairs (MHA), has taken decisive action to protect citizens from potential SMS fraud through the Sanchar Saathi initiative, it said. Indian Cyber Crime Coordination Centre (I4C) under MHA provided information about the misuse of eight SMS headers for sending fraudulent communications for committing cybercrime. It was noted that more than 10,000 fraudulent messages were sent using these eight headers in the past three months. The principal entities which were the owners of these eight SMS headers have been blacklisted. 'Principal entities' in telecom parlance refer to business or legal entities sending out commercial messages to telecom subscribers through SMS. A header means an ..

Scammer gives online security advice to man on WhatsApp; Paytm MD reacts

The scammer admitted that they send APK files to users, which, once downloaded, can give them access to all incoming messages, including OTPs

Vietnam mounts $24 billion rescue plan for bank engulfed in giant fraud

The State Bank of Vietnam's previously unreported cash injections into SCB amount to 5.6% of the nation's annual economic output, or about one-fourth of Vietnam's foreign-exchange reserves

Rs 2,500 cr crypto scam: Kingpin Subhash Sharma hiding in UAE, says SIT

The special investigation team (SIT) probing the Rs 2,500-crore cryptocurrency scam would approach the competent court on November 28 to seek a warrant for the extradition of fugitive kingpin Subhash Sharma from UAE, officials said on Saturday. The kingpin of the scam Subhash Sharma from Sarkaghat in Himachal Pradesh's Mandi district is still at large and as per our information, he is hiding in UAE. Efforts are underway to bring him back, Deputy Inspector General of Police (DIG) northern range, Abhishek Dhullar, who is heading the SIT, told PTI. The multi-crore cryptocurrency ponzi scam started in 2018. The investors smelled something fishy when they stopped getting returns during the Covid pandemic when most business activities came to a halt. Later when they asked the accused about their pending returns, they realised they had fallen into a trap and were threatened to keep shut, the police said. The fraudsters threatened the victims that they would lose all their invested money i

Finance ministry cautions people against 'matrimonial dating scam'

The Ministry of Finance said that customs will never call or send a text message asking people to pay customs duty through a personal bank account