Frauds

What is Sanchar Saathi app and why govt wants it on every mobile phone?

The government mandated all manufacturers to ensure that the government's Sanchar Saathi mobile application is pre-installed on all mobile handsets manufactured or imported for use in India

Anil Ambani moves SC against SBI classification of his account as fraud

Industrialist Anil Ambani has moved the Supreme Court challenging an order of the Bombay High Court which upheld the State Bank of India's (SBI) decision classifying his and Reliance Communications' accounts as fraud. The matter is yet to be listed for hearing. The High Court had on October 3 dismissed Ambani's plea challenging the SBI decision and said there was no merit in the plea. The SBI had last year classified the accounts as fraud, alleging misappropriation of funds by entering into transactions that violated the terms of loans extended by it. Ambani moved the HC, arguing that the bank had not followed the principles of natural justice as it did not grant him a hearing. Certain documents, based on which the classification orders were passed, were not provided to him initially and were furnished only after six months, the petition claimed. The bank this year lodged a complaint with the Central Bureau of Investigation (CBI), which searched premises linked to Reliance ...

Airtel MD urges users to shift to its Payments Bank amid cyber fraud surge

Airtel MD Gopal Vittal has advised users to shift routine digital payments to Airtel Payments Bank, noting that keeping all transactions linked to one main account increases fraud vulnerability

Delhi Police busts ₹1.6 cr stock market scam, 3 held for running fake firms

The Delhi Police has busted a pan-India stock market investment fraud that allegedly duped victims of crores through fake companies and fabricated trading platforms, an official said on Monday. Three people, including Sunil Kumar, the director of a shell firm and a resident of Fatehabad, Agra, and Vishal Choure and his wife, both residents of Thane, Maharashtra, allegedly linked to another bogus entity, have been arrested, they said. Police said the arrests were made during coordinated raids conducted in Ballabgarh (Haryana) and Thane (Maharashtra), leading to the unravelling of a multi-layered racket operating under the guise of GTR Electronics Pvt. Ltd. and Udyam Women Empowerment Foundation. The syndicate allegedly ran online financial traps, fake pre-IPO schemes and fraudulent forex trading platforms, cheating people across several states. The investigation began with a complaint from a man who lost Rs 1.6 crore after being lured by a woman he had met through social media, who

4 arrested in Delhi for providing mule accounts to facilitate cyber frauds

Four persons allegedly involved in arranging mule bank accounts for funnelling and laundering proceeds of various cyber frauds across the country have been arrested from central Delhi, police said on Saturday. According to the police, the accused acted as intermediaries for larger cybercrime modules and were responsible for procuring mule bank accounts, into which cheated funds were deposited in installments. The money was withdrawn and delivered to the main fraudster, while the mule account holders retained small portions as commission. A fraudulent credit of Rs 50,000, dated May 1, was detected in a bank account belonging to one Sameer, a resident of Delhi's Kishan Ganj area, a senior officer said. Subsequently, he was apprehended, and during questioning, he allegedly disclosed that he had received Rs 1,60,760 in fraudulent deposits on the directions of an associate Shivam Rathore, the police said. A raid was conducted in Shastri Nagar area, leading to the arrest of Shivam (20).

ED attaches fresh assets in case against Anil Ambani's Reliance Group

The Enforcement Directorate (ED) has attached fresh assets worth crores of rupees as part of a money laundering probe related to Reliance Group chairman Anil Ambani and his companies, official sources said. The federal investigative agency had earlier attached properties worth Rs 7,500 crore in this case. The latest provisional attachment order has been issued under the Prevention of Money Laundering Act (PMLA) for the assets located in various parts of the country. It is estimated that assets worth over Rs 1,400 crore have been attached as part of the latest order, the sources said.

Provogue India defrauded of ₹90 cr, former director among 4 booked

The Economic Offences Wing (EOW) of the Mumbai police has booked four persons, including a former director and an ex-employee of Provogue India Ltd, for cheating the company of Rs 90 crore, officials have said. Provogue India Ltd, based in Mumbai, manufactures and sells a wide range of products, including men's and women's apparel, accessories and luggage. The accused persons were identified as former director of the company Rakesh Rawat, its former employee Sameer Khandelwal, resolution professional Amit Gupta, new purchaser Arpit Khandelwal, Plutus Investments and Holding Ltd and others, an official said on Wednesday. The accused conspired and allegedly undervalued the company's assets and deliberately delayed the auction process by two years to bring down its market value so that Khandelwal could purchase the company, an official said. The accused did not collect the receivable amounts from clients (debtors) for personal gain, he said. A complaint in this connection was lodged

ED arrests Lalu Prasad family aide Amit Katyal in real estate fraud case

The Enforcement Directorate has arrested Amit Katyal, a real estate businessman considered close to RJD chief Lalu Prasad's family, in a money laundering case linked to alleged cheating of homebuyers in Gurugram, official sources said. Katyal was taken into custody by the Gurugram zonal office of the agency on Monday under the Prevention of Money Laundering Act (PMLA), they said. A special court in Gurugram sent him to six-day ED custody. The investigation pertains to the allegations of non-delivery of flats in the Krrish Florence Estate built in Gurugram's Sector 70 over 14 acres. The project was being developed by Katyal's company, Angle Infrastructure Pvt Ltd. Katyal was arrested by the ED also in 2023 in a separate money laundering case related to the railways' alleged land-for-jobs scam involving Lalu Prasad, his wife Rabri Devi, and other family members. The businessman was chargesheeted in August by the federal agency in a third case for allegedly cheating homebuyers for Rs

Al Falah chairman had reasons to flee, ₹415 cr tainted funds identified: ED

Siddiqui was taken into custody by the federal probe agency on Tuesday night after it conducted day-long searches against the Al Falah University group of Faridabad

Delhi Police uncovers forex trading scam with Dubai link, 3 arrested

The Delhi Police has arrested three people, including a sales manager of a private bank, over alleged links with an interstate syndicate involved in large-scale forex trading scam operated by Dubai-based handlers, an official said on Monday. The accused have been identified as Anurag Kumar, a mule-account provider; Zeeshan Syed, sales manager at a private Bank; and Himanshu Gupta, a key handler with past involvement in cheating and forgery, he said. They were allegedly part of a network that created shell companies and opened multiple mule current accounts to layer and launder the proceeds of investment frauds, the police said. The gang lured victims through social media groups, using manipulated dashboards to display fictitious forex trading profits, the senior officer said. Manipulated by the fake returns, victims were induced to deposit money repeatedly, which was then routed through a layered network of accounts created under entities such as "Rebootz Sync Professionals Pvt Ltd

Why former Jaypee Infratech MD was arrested in money laundering case

Manoj Gaur, who was accused of cheating multiple home buyers, was arrested under the Prevention of Money Laundering Act

Medikabazaar targets 40% annual growth as turnaround gains traction

After reporting an 80% revenue jump and EBITDA positivity in Q2FY26, Medikabazaar plans 40% annual growth over the next three years, even as it navigates a high-profile boardroom dispute

'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

Brazilian model reacts after Rahul Gandhi's Haryana election fraud claim

Larissa, who is a former model, shared she had no idea her photo was being used in India and called the situation 'absurd', adding she had never even visited the country

Shreyas Talpade, Alok Nath booked in new fraud case over investment plan

The case accuses the actors of misleading investors under a cooperative society scheme; both had earlier received Supreme Court protection from arrest

Sebi developing tools to curb fraudulent trades: Tuhin Kanta Pandey

Regulator to float consultation papers on MIIs guidelines, easier KYC for NRIs

EOW conducts raid at multiple locations in J-K in ₹53 lakh land fraud case

The Economic Offences Wing (EOW) of Crime Branch Kashmir on Thursday conducted raids at multiple locations here in connection with a Rs 53 lakh land fraud case, officials said. The searches were conducted at several locations in Srinagar district in connection with a case of cheating and dishonestly inducing delivery of property against four individuals involved in the fraud. The case was registered on September 2 following a written complaint alleging that land brokers Tariq Ahmad Hajam, Ghulam Hassan Mir, Sonaullah Mir, and Razzak Mir -- all residents of Barthana Srinagar -- deceitfully grabbed Rs 53 lakh from the complainant on the pretext of facilitating a land deal, a spokesman of the Crime Branch said. He said the investigation has revealed that the accused, in connivance with certain revenue officers and officials, had "manipulated documents and misused official processes to illegally" obtain money and property from the complainant. Searches were conducted to trace evidence

Payment apps, DoT help avert ₹200 cr potential fraud: PhonePe co-founder

Payment apps PhonePe and Paytm have helped citizens avert potential financial frauds worth Rs 200 crore by using the fraud risk indicator platform developed by the Department of Telecom, a senior Walmart group official said on Wednesday. While giving a presentation to Prime Minister Narendra Modi at the inaugural session of India Mobile Congress (IMC), PhonePe co-founder Rahul Chari said that by using FRI (Fraud Risk Indicator) data, apps like PhonePe and Paytm have frozen more than 10 lakh accounts and wallets. "They have blocked more than 48 lakh suspicious transactions. More than 200 crore rupees in potential financial loss have been averted. The DoT has been able to save more than that in the potential financial loss to consumers in just 3-4 months prior to the launch," Chari said. According to the breakup shared by Chari, PhonePe claims to have helped citizens avert potential financial fraud losses of around Rs 125 crore, while Paytm has helped save Rs 68 crore in the last 2 ..

Bombay HC upholds SBI order on Anil Ambani, Reliance Comm fraud accounts

The Bombay High Court while upholding an order of the State Bank of India (SBI) classifying the accounts of industrialist Anil Ambani and Reliance Communications as fraud has said it was a reasoned order, and did not have any legal flaw. A bench of Justices Revati Mohite Dere and Neela Gokhale on October 3 dismissed a petition filed by Ambani, challenging the SBI order. The judgment, a copy of which was made available on Tuesday, said there was no merit in Ambani's plea as there was no "infirmity" in the SBI order of June 13, 2025. The court did not entertain the industrialist's contention that the order should be held as null and void because he was not given a personal hearing, and relevant documents were not furnished to him. The right available under the Reserve Bank of India's (RBI) Master Directions, under which the SBI passed its order, is that of making a representation and not of personal hearing, the high court noted. Ambani had submitted his response to the show-cause .

Charlie Javice gets 7 yrs in prison for defrauding JPMorgan of $175 million

The 33-year-old Frank founder was convicted of conspiracy, bank fraud, and wire fraud after faking user records to sell her startup to JPMorgan in a $175 million deal