Page 3 - Scams

New India Cooperative Bank's GM held for 'misappropriation' of Rs 122 crore

The Mumbai police on Saturday arrested Hitesh Mehta, General Manager and Head of Accounts of the New India Cooperative Bank, for allegedly misappropriating Rs 122 crore from the bank, officials said. Mehta was placed under arrest by the Economic Offences Wing (EOW) of the city police after being questioned for more than three hours, an official said. He was called to record his statement before the probe agency at its south Mumbai office in connection with the case registered against him and others, he said. Mehta will be produced before a local court on Sunday, the police official added. The Reserve Bank of India (RBI) on Friday superseded the cooperative bank's board for a year and appointed an administrator to manage its affairs. A day prior to that, it imposed several restrictions on the lender, including on withdrawal of funds by depositors, citing supervisory concerns emanating from the recent material developments in the bank, and to protect the interest of its depositors.

Who is Ananthu Krishnan, the man behind multi-crore fraud in Kerala?

Ernakulam Rural Police arrested 26-year-old Ananthu Krishnan, who allegedly orchestrated a fraud involving promises of laptops & scooters at half price, leading to a loss of about 500-600 crore

Phishing to QR code scam: Key steps to avoid some common UPI-related frauds

As UPI transactions rise, so do frauds. From phishing to fake QR codes, here's how scammers operate and key steps to protect yourself from financial fraud

Activist alleges Rs 88 cr 'scam' in agriculture dept under Dhananjay Munde

Activist Anjali Damania on Tuesday alleged a Rs 88 crore 'scam' in the agriculture department when NCP leader Dhananjay Munde held the portfolio in the previous Mahayuti coalition government in Maharashtra. Despite the Union government's 2016 directive to transfer money directly to farmers' bank accounts under Direct Benefit Transfer (DBT), the agriculture department purchased equipment and fertilisers for distribution to farmers at inflated rates, she claimed. Reaction from Munde's office to the allegations was awaited. The NCP leader, now minister for Food and Civil Supplies, is already under fire over the arrest of his aide Walmik Karad in an extortion case related to the murder of sarpanch Santosh Deshmukh in Beed district. Shiv Sena minister Sanjay Shirsat told reporters that Chief Minister Devendra Fadnavis will "certainly take notice" of the allegations and order an inquiry. Speaking at a press conference here, Damania presented documents related to the alleged scam. "These

Over 33% respondents lose money to scams via real-time payments: Report

More than one-third of people surveyed have reported losing money to scams through real-time payments, according to a report. Highlighting the growing threat of scams in India's real-time payments (RTP) ecosystem, 34 per cent of respondents reported paying for goods, services or investments that were never delivered, according to the report by global analytics software company FICO. The report stated that 60 per cent of respondents reported exposure to messages from scammers, and 54 per cent said friends or family members had been scammed. While fewer Indian consumers reported losses in 2024 compared to 2023, the percentage of high-value losses those exceeding Rs 800,000 doubled from 2 per cent to 4 per cent, said Dattu Kompella, managing director in Asia for FICO. While 56 per cent of losses were relatively small, under Rs 50,000, these amounts can still be devastating for many households, the report said. Around 45 per cent of Indian consumers identified improved fraud detecti

Capital Group duped: Here's how $2.6 trillion fund was taken for a ride

The alleged organier is Ketan Parekh, a former stockbroker the regulator has chased out of the market once before

Scams at airports: Key threats and how to stay safe while travelling

These incidents have raised red flags about the growing sophistication of scams, particularly in places like airports where people often have a heightened sense of security

'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

Scams @2024: Major political controversies that made headlines this year

From Delhi's liquor policy fallout to NEET exam leaks, 2024 was a year of explosive scandals. Read on to know more about the controversies that defined this year

PAN 2.0 targeted for fraud: How to protect yourself from misinformation

If you need to apply for a reprint of your PAN card, you can it through the websites of Protean or UTIITSL

NPCI cautions users against digital frauds, highlights 'common tricks'

The apex payments body has cautioned citizens to identify such scams based on themes such as unexpected calls from alleged government officials

HPZ token investment 'scam': ED attaches assets valued Rs 106.20 crore

The scam involving shell entities with Chinese links, duped investors of hundreds of crores on the pretext of doubling their investments through an app and online gaming and betting websites

PM Modi's warning against 'digital arrest': How you can protect yourself

In light of recent incidents, including this fake raid in Delhi, India's cyber-security agency, CERT-In, has issued a warning about increasing online scams

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

Rs 15 cr from 'Valmiki scam' used to influence voters in 2024 elections: ED

Additional funds were deposited into personal accounts linked to Nagendra's associates, including Punith Kumar and Kali Harish, for personal expenses such as flight bookings, vehicle maintenance

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

Ministerial panel to expedite probe into BJP-era scams to meet this week

Karnataka Home Minister G Parameshwara on Wednesday said the committee of Ministers -- formed to review and coordinate regarding the action to be taken in connection with probe by government and investigating agencies into various scams that have taken place during the previous BJP government -- is likely to meet this week. Chief Minister Siddaramaiah on Tuesday constituted the five member panel headed by Parameshwara, and asked it to complete the task in two months. The move is said to be aimed at turning the tables on the BJP, which has been targeting the ruling Congress over scams. "Every case that is pending at various stages... some of them that have been decided and some yet to be decided...to review all of them and to submit a report a Cabinet subcommittee has been formed. Probably this week itself I will call a meeting of the committee," Parameshwara said. Speaking to reporters here, he said such cases have been identified and their status report will be submitted to the ..

Whale phishing scam explained: How it works and tips to protect yourself

A whale phishing scam, also known as whaling, is a sophisticated type of phishing attack that targets high-profile individuals within an organisation, such as executives, CEOs, or other senior leaders