Page 4 - Online Frauds

Bengaluru man nabbed: ED busts Rs 10 cr scam involving fake PANs, tax fraud

Using Aadhar and PAN data from property records, he forged documents to open bank accounts in the names of his targets, specifically choosing banks with lax KYC requirements.

RBI cautions on deepfake videos of governor giving financial advice

"These videos attempt to advise people to invest their money in such schemes using technological tools," the central bank said in a statement

Most employees say candidates are partly to blame for job scams: Report

Over 75 per cent of respondents feel that candidates are partly responsible for falling prey to scams due to their failure to verify company's credentials before making payments or sharing sensitive personal information, a report said on Saturday. A substantial 75 per cent of surveyed employees indicated that many job seekers fail to exercise the necessary caution when engaging with potential frauds posing as employers or recruiters, the report by workforce staffing and HR services provider Genius Consultants said. The report by Genius Consultants is based on a survey of 1,427 employees across sectors including FMCG, Technology, Manufacturing, Telecom, E-Commerce, Logistics, Real Estate, and BFSI (Banking, Financial Services, and Insurance). Further, the report revealed that while 28 per cent of respondents believed that there have been serious steps taken by the government or regulatory bodies to curb such frauds, a significant 55 per cent disagreed saying there has been inadequate

At the BS BFSI Summit, experts stress KYC, and tech to curb digital fraud

Business Standard BFSI Insight Summit 2024: Industry leaders discuss KYC, anti-fraud tech, and user education as essential defences against rising digital financial crime

BS BFSI Summit: Banking experts emphasise customer vigilance on cyber fraud

Banking industry leaders highlight growing cybersecurity challenges and customer education efforts while speaking with Manojit Saha at Business Standard BFSI Insight Summit

Gift card scam hits Bengaluru engineer, ends ups losing Rs 4.5 lakh

The scam began with a message sent to the engineer ahead of Diwali, apparently from his boss, asking him to complete a quick assignment

Indians lose over Rs 120 cr in digital arrest frauds; PM Modi cautions risk

The National Cybercrime Reporting Portal (NCRP) recorded 0.74 million digital arrest fraud complaints between January 1 and April 30 this year, following 1.5 million complaints logged in 2023

Centre launches system to block international spoofed calls, curb fraud

The Indian government has launched a new system to block international calls disguised as local numbers, aiming to protect citizens from financial scams and cybercrime

Vendor in Somalia, account in Dubai: ISA traces cybercrime incidents

ISA has filed a police complaint and issued show cause notice to a section of its staff suspected to be involved in the incident

Centre issues notification for CBI probe into Assam online trading scam

The Centre has asked the Central Bureau of Investigation (CBI) to probe 41 cases linked to a multi-crore online trading scam in Assam. A notification in this connection was issued by the Ministry of Personnel, Public Grievances and Pensions on Friday and shared by the Chief Minister's Office (CMO) on 'X' on Saturday. It states, "the powers and jurisdiction of the members of the Delhi Special Police Establishment has been extended throughout the state of Assam for the investigation of offences under relevant sections of IPC/BNS and other Acts as mentioned in the FIRs and any other law related to the 41 police cases, which are registered at various police stations in Assam concerning unregulated deposits involving fraudulent transactions and trading of large sums of money'. The CMO also noted that the state government, under Chief Minister Himanta Biswa Sarma, has assured full cooperation to the CBI for a swift probe into these cases. The scam came to light in the last week of August

Star Health breach: Beware, your Aadhaar, PAN, password leak risk fraud

The Star Health Insurance breach is just one in a series of recent data breaches affecting millions of people in India

Online gaming scams: Small bets win, big bets lose - how they work

With the rise in sports betting apps, scammers have found new ways to target unsuspecting bettors

Citi pushes back on NY's online fraud lawsuit, says we're not 'bad guys'

New York's lawsuit comes as consumers are losing billions to financial fraud to scammers using more advanced tools

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

New India Post scam targets citizens; what is it and how to be safe?

Victims first receive an SMS, supposedly from India Post, about undeliverable parcels due to incorrect addresses, with a link to update details. Soon after, a scammer calls, urging quick action

At $4 billion, investment fraud emerges as biggest crypto scam of 2023

Of the more than 69,000 reports of crypto-related crime the agency received last year, nearly half were reports of investment fraud

How scamsters tricked investors of Rs 25 cr through fake apps and stocks

The con began with scammers posting fake advertisements on social media platforms like Facebook, Instagram, and X (formerly Twitter)

Payment aggregators to create 'negative' database to tackle digital fraud

The proposed database, to be made accessible to all licensed payment aggregators, will work as an early warning system to help prevent fraud and reducing risks to merchant and consumers

RBI cautions against fraud, warns against sharing OTP and KYC details

The RBI also detailed various modus operandi used by fraudsters

RBI asks public to be cautious against fraudulent activities in its name

The Reserve Bank of India (RBI) on Thursday cautioned against fraudulent activities in its name and asked the public not share account login details, OTP, or KYC documents with unidentified persons. It has come to the notice of the RBI that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity, the central bank said in a statement. The RBI also listed various modus operandi employed by fraudsters. Fraudsters use fake letter heads and fake email addresses of the RBI, impersonating as employees of the central bank, and lure people with fictitious offers such as lottery winnings, fund transfers, foreign remittance, and government schemes. Targeted victims are made to part with money in the form of currency processing fee, transfer/remittance/procedure charges. Another tactic that has come to our notice is of small/medium businesses being approached by fraudsters posing as government/RBI officials and made to pay a .