Page 4 - Online Frauds

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 .

September 1 deadline: Trai asks top regulators to apply whitelist norms

The telecom regulator directs RBI, SEBI, Home Ministry and others to register the content of text messages

ED arrests 4 in Chinese-linked online betting app fraud worth Rs 400 cr

Four persons have been arrested in connection with a Rs 400 crore "fraud" online betting and gaming app allegedly linked to some Chinese nationals, the Enforcement Directorate (ED) said on Friday. Arun Sahu, Alok Sahu, Chetan Prakash and Joseph Stalin were taken into custody under the provisions of Prevention of Money Laundering Act (PMLA) in the case related to the app named 'Fiewin', the federal probe agency said in a statement. The money laundering case stems from an FIR filed at the Cossipore police station in Kolkata against some unknown persons for "cheating" and "conspiracy" with a number of online gamers through the app. "An amount of Rs 400 crore was generated from the Fiewin app fraud and thereafter was credited into eight Binance (global crypto exchange) wallets in the name of Chinese nationals. These wallets were operated from the Chinese mainland as revealed by the access IP logs. "The Chinese nationals communicated with and instructed the four accused persons through

Elon Musk stirs UK divisions, urges faster rollout of online safety laws

An Online Safety Bill was passed into law in October but has yet to be implemented

Mushrooming mule accounts fuel rise in financial frauds, says official

This represents a more than 10 fold increase over the four year period, underscoring the growing sophistication of fraudsters and exposing vulnerabilities within the financial system

1 in 2 Indians reject bank, credit card applications over complex ID checks

Identity checks are on the rise but two in five Indians will stop or reduce the use of existing accounts if the identity verification experience is poor