Page 13 - Frauds

DHFL auditors discover fraudulent transactions worth Rs 14,046 cr

The administrator of DHFL - R Subramaniakumar - has moved an application in the National Company Law Tribunal (NCLT) based on the findings of the of transaction auditor

Wirecard AG inquiry probes why Germany missed fraud of century

If the closed-door hearings go badly, parliament may trigger a deeper investigation as the country prepares for the post-Merkel era with an election due next year

Indian-origin man pleads guilty to operating unlicensed money transfer biz

A 24-year old Indian-origin man has pleaded guilty to operating an unlicensed money transmitting business that provided essential services to a fraudulent technical-support company

Steve Bannon: Rise & fall of ex-Trump aide now charged in border wall scam

His indictment came on the same morning the Trump administration lost a bid to block a subpoena by the Manhattan district attorney for the president's tax filings

Ex-White House adviser Steve Bannon, others arrested on fraud charges

Federal prosecutors alleged that Bannon and three others orchestrated a scheme to defraud hundreds of thousands of donors in connection with an online crowdfunding campaign

TAIPA warns public about rising cases of tower installation frauds

Industry body TAIPA on Thursday warned the public about increasing cases of tower installation frauds, where scammers posing as agents of telecom firms dupe unsuspecting victims

Indian national sentenced for role in defrauding hundreds of people

According to court documents, Anikkhan Yusufkhan Pathan, 29, while in the US country on a student visa, conspired with individuals in India to defraud approximately 200 people located throughout US

Indian-American tech executive charged for $5.5 mn Covid-19 relief fraud

Mohan, 48, submitted fake and altered documents, including forged federal tax filings and altered incorporation documents in support of Paycheck Protection Program applications

Paytm Payments Bank submits list of 3,500 fraud phone numbers to Trai

Paytm also suggested that telecom operators who sell bulk SMS services should follow stringent KYB process

Rs 1 crore assets in gardener's possession unearthed in Odisha

The sleuths raided house of Udhab Behera working as a gardener-cum-horticultural extension worker at office of the Assistant Director, Horticulture, at Udala sub-division in Mayurbhanj district

NTPC reported 19 cases of contractor irregularities in three years

The irregularities cited include bribes taken from contractors, steel pilferage, corruption in land acquisition deals, and submission of forged bank guarantees

White-collar crime: Losses from frauds rise 80% from last year, says survey

The survey pointed that 3,766 cases of fraud were detected in FY19, a 15 per cent spike from a year ago

6-mn iPhone-iPad fraud: FBI indicts 14 members of a criminal gang

The FBI's investigation took years and spanned across many jurisdictions.

NSE asks trading members to safeguard investor data amid rise in frauds

The move comes after Sebi communicated to the NSE that certain fraudsters are collecting data of clients who are already into trading in exchanges and send them bulk messages

India remains vulnerable to credit and debit card frauds despite measures

India was ranked among the top five countries globally that are vulnerable to credit card fraud, according to the 2016 Global Consumer Fraud Report

When AI can prevent human fraud

Even as rules and oversight measures are tightened, a new dimension in fraud prevention is gaining ground. Artificial intelligence is now being used to identify and flag errant behavior

58% CXOs believe corporate frauds to rise over the next two years: Survey

About 7% companies responded that they had been duped to the tune of more than Rs 100 million in a fraud in the recent period