Page 4 - Scam

New scam in Gurugram: Car driver allegedly hits pedestrian, demands money

According to a viral Reddit post, a "new scam" is making waves in Gurugram. An Ertiga driver deliberately hits pedestrians from behind and then demands compensation for alleged damages

ED arrests key players in Rs 719 crore fake Chinese loan app scam

ED officials reported that the arrested individuals received substantial remuneration-Rs 2 crore and Rs 70 lakh, respectively-for their involvement in creating these illicit accounts

Co-Op bank embezzlement case: 3 accused remanded in EOW custody till Feb 28

Economic Offences Wing (EOW) of Mumbai Police has arrested former chief executive officer (CEO) of the New India Co-Operative Bank Abhimanyu Bhoan in a Rs 122 crore embezzlement case, an official said on Friday. This is the third arrest in the case. The bank's general manager Hitesh Mehta is accused of misappropriating a total of Rs 122 crore in cash from the bank's safe over a period of time. Bhoan had been called to record his statement on Thursday and Friday. After his role in the crime became apparent during the interrogation, he was placed under arrest late Friday night, said an EOW official. The EOW had earlier arrested Hitesh Mehta and developer Dharmesh Paun in the case. The alleged misappropriation of funds came to light following an inspection by the Reserve Bank of India.

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

One in 3 Indians lost money to scams in 2024; high-value losses doubled

The '2024 Scams Impact Survey: India' found that 34% of respondents had paid for goods, services or investments they never received

CBI busts Rs 350 crore nationwide crypto Ponzi scam, raids seven locations

The CBI has conducted search operations across seven locations after registering a case of Rs 350 crore crypto ponzi scam against seven persons, officials said Friday. The accused persons were allegedly running seven separate modules based in the cities of Delhi, Hazaribag, Bathinda, Ratlam, Valsad, Pudukkottai and Chittorgarh, taking money from gullible investors promising investments in cryptocurrencies, they said. "These ponzi schemes were being promoted through multiple social media groups. An analysis of bank account transactions and cryptocurrency wallets has revealed that the illegal proceeds from these schemes were being converted into cryptocurrencies to obscure their origin," CBI's spokesperson said in a statement. It is alleged that they had conducted transactions of over Rs 350 crore in these schemes, the officials said. On Thursday, the agency swooped down at locations in Delhi, Jharkhand, Punjab, Madhya Pradesh, Gujarat, Tamil Nadu and Rajasthan. During the searches,

Retired bank manager loses 2.2 cr in scam: Here's how to remain protected

Experts advise that if someone claims to be an authority, like police, an insurance regulator, or a ministry official, verify their identity by consulting contacting official helplines

SBI reward scam: What is it and how to stay safe

SBI never sends links or files via SMS or WhatsApp messages for redeeming rewards

NPCI clarifies misconceptions about Jumped Deposit scam, no fraud reported

NPCI clarified that simply opening a UPI or bank app does not approve transactions. Users must explicitly authorise payments by entering their UPI PIN for processing

Torres scam: Rs 5 cr cash seized; scam amount estimated at Rs 22 cr

The Economic Offences Wing (EOW) of Mumbai Police which is probing the Torres investment scam has seized Rs 5 crore in cash, deposited by investors, from a Torres jewellery store in Dadar and a flat in the city, an official said on Friday. The estimate of the total amount involved in the scam stood at Rs 22 crore, he said. The seizure was made during searches on Thursday. Some investors had handed cash to the company for making deposits after encountering snags in its online system, the official said. As much as Rs 77 lakh were recovered from a flat rented by Tania alias Tazagul Karaxanovna Xasatova (52), one of the accused, in Colaba in south Mumbai. Xasatova worked as a general manager at the Torres store, the official said. Police also recovered over a thousand 'precious stones'. While the company charged its investors thousands of rupees for these stones, their actual value was around Rs 300 apiece, he said. Torres allegedly duped hundreds of depositors by promising them hig

Mumbai Police EOW takes over probe into multi-crore Torres investment scam

The Economic Offences Wing (EOW) of the Mumbai police on Wednesday took over the investigation into Torres jewellery firm's multi-crore investment scam, an official said. The police have registered a case against Platinum Hern Private Limited company, which runs the 'Torres' jewellery brand, and its directors for duping investors for over Rs 13.48 crore by promising attractive returns on their investment in the firm located at Dadar in central Mumbai, he said. Three top executives of the private jewellery firm -- two of them foreign nationals -- were arrested on Tuesday evening and sent to police custody till January 13. "Considering the scope of investigation, the case was transferred to the EOW on Wednesday," he said. Accordingly, a team of EOW officials visited the Shivaji Park police station and collected related documents for the probe. After examining the case-related documents, the EOW team will take the probe ahead, he said. "The cheating came to light when more than 300 .

McAfee launches Deepfake Detector in India: How it works and more details

McAfee Deepfake Detector is available for English language detection on select PCs based on Microsoft's Copilot+ platform

PAN card scam: PIB alerts India Post Payments Bank account holders

Avoid opening email attachments or clicking on unfamiliar links. Regularly update your passwords, avoid interacting with fake customer care numbers, and verify the authenticity of banking communicatio

'I was crying, begging': Influencer Ankush Bahuguna on 40-hr digital arrest

The scammers forced Bahuguna to switch off all electronic devices, forbade him from communicating with anyone, and coerced him into making multiple financial transactions

Pig butchering scam targeting jobless youth, housewives, says MHA report

A new cyber fraud known as "pig butchering scam" or "investment scam" has emerged, targeting unemployed youths, housewives, students, and needy people who are made to lose large sums of money daily, according to the latest annual report of the Union home ministry. The report said that cybercriminals have also been using Google services platforms to initiate these crimes. "Google Advertisement platform provides a convenient facility for targeted advertisement from across the border. This scam, known as 'Pig Butchering Scam' or 'Investment Scam' is a global phenomenon and involves large-scale money laundering and even cyber slavery," it said. The pig butchering scam, which is believed to have started in China in 2016, targets gullible individuals with whom cyber criminals build trust over time, ultimately convincing them to invest in cryptocurrency or some other lucrative scheme when their money is stolen. The analogy to pig butchering comes from the fattening of swine before their ..

Shubman Gill, other cricketers, to be summoned in Rs 450 cr Ponzi scam case

The development follows the interrogation of Bhupendrasinh Zala, the alleged mastermind behind the ponzi scheme

Raj Kundra questions ED on attachment of properties in Bitcoin scam

In the attachment order, it is clearly written that we have no evidence of any funds going to Raj Kundra, he said

SC adjourns hearing on Partha Chatterjee's plea in cash-for-jobs scam

A bench of justices Surya Kant and Ujjal Bhuyan adjourned the hearing observing that it has to go through the files relating to custody being served by Chatterjee

Crores lost to 'digital arrest' scam: Here's how to avoid falling victim

A 90-year-old Gujarat man lost Rs 1 crore to fraudsters posing as CBI officers. Here's how you can protect yourself

UPI frauds: Rising cases can affect users' confidence in digital payments

The volume of digital-payment transactions increased from 20.71 billion in 2017-18 to 187.37 billion in 2023-24 - at a compound annual growth rate (CAGR) of 44 per cent