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fraudsters

RBI calls on lenders to hear borrowers before declaring account fraud

Move follows SC ruling for complying with principles of natural justice

RBI calls on lenders to hear borrowers before declaring account fraud
Updated On : 16 Jul 2024 | 12:17 AM IST

RBI red flags 'lakhs' of accounts used for fraud and evergreening

Says nudging NBFCs to enhance disclosure quality

RBI red flags 'lakhs' of accounts used for fraud and evergreening
Updated On : 09 Jul 2024 | 11:50 PM IST

Stay scam-free: This series of phone numbers will help you spot fraud calls

The Department of Telecom has designated the prefix '160' for 10-digit numbers, which will be utilised by govt agencies, regulatory bodies, and financial institutions to communicate with the public

Stay scam-free: This series of phone numbers will help you spot fraud calls
Updated On : 30 May 2024 | 10:13 PM IST

Indian-origin man in Singapore charged for cheating staff of Prez, Parl

An Indian-origin man faces three counts of cheating by personation staff at the President's Office, the Ministry of National Development and Parliament. Prakash Paramasivam, 24, who appeared in the court on May 17, allegedly posed as a Singapore Prison Service staff member to send emails to President Tharman Shanmugaratnam, National Development Minister Desmond Lee and to the Parliament. He allegedly e-mailed the Parliament on February 16 and Lee two days later, followed by another email sent to President Tharman on Feb 24, according to a report by The Straits Times. Court documents did not disclose the contents of the e-mails or why Prakash allegedly sent them. His case will be mentioned again in court on June 20. For each count of cheating by personation, an offender can be jailed for up to five years and fined.

Indian-origin man in Singapore charged for cheating staff of Prez, Parl
Updated On : 18 May 2024 | 8:11 AM IST

Every Rs 1,000 lost to fraud in India costs firms Rs 4,000: LexisNexis

Fraud has increased for 54% of Indian organisations year-on-year, according to LexisNexis True Cost of Fraud Study - Asia Pacific

Every Rs 1,000 lost to fraud in India costs firms Rs 4,000: LexisNexis
Updated On : 29 Apr 2024 | 3:48 PM IST

Delhi Police warns residents amid spike in 'digital house arrest' cases

Cyber crooks are now adopting a new modus operandi called 'digital house arrest', causing serious concern for Delhi Police with over 200 such cases recorded every month in the national capital, officials said. According to a police officer, 'digital house arrest' refers to a fraud where impostors impersonating law enforcement officers deceive the victims into believing that their bank account, SIM card, Aadhaar card, or other cards linked to their bank account has been used unlawfully. The fraudsters then virtually restrain the victims from moving out of the house and coerce them into paying them money, the officer said. "Digital house arrest has become a major concern nowadays. However, our special unit only investigates those cases where the cheated amount is above Rs 50 lakh," a senior police officer of the Intelligence Fusion and Strategic Operations (IFSO) unit of Delhi Police said. The officer said such 'cyber thugs' are technically sound and know how to convince their target

Delhi Police warns residents amid spike in 'digital house arrest' cases
Updated On : 01 Mar 2024 | 8:17 PM IST

Mkt regulator Sebi warns investors against fraudsters claiming to be FPIs

This is the second caution against fraudsters in this month. This follows several complaints regarding such activities and entities

Mkt regulator Sebi warns investors against fraudsters claiming to be FPIs
Updated On : 26 Feb 2024 | 9:28 PM IST

Do not share documents with unknown entities for KYC updation: RBI

The Reserve Bank of India on Friday cautioned the public against fraud in the name of KYC updation and advised not to share documents with unknown entities. In the wake of continuing incidents and reports of customers falling prey to frauds being perpetrated in the name of KYC updation, RBI urged the members of the public to exercise caution and due care to prevent loss and safeguard themselves from such malicious practices. In past also the central bank has cautioned the public regarding such frauds. "Do not share KYC documents or copies of KYC documents with unknown or unidentified individuals or organizations," it said. Also, do not share account login credentials, card information, PINs, passwords, OTPs with anyone, the RBI added. "The modus operandi for such frauds usually involves customers receiving unsolicited communications, including phone calls/SMS/emails, through which they are manipulated into revealing personal information, account/login details, or installing ...

Do not share documents with unknown entities for KYC updation: RBI
Updated On : 02 Feb 2024 | 6:54 PM IST

Govt warns users against dialling '*401#' followed by unknown mobile number

The Department of Telecom on Thursday issued an advisory to users warning against malicious calls that ask them to dial '*401#' followed by an unknown mobile number. In case a user dials '*401#' followed by an unknown number, then it leads to activation of unconditional call forwarding received on the mobile of the user to the unknown mobile number. "The Department has advised citizens to beware of receiving malicious incoming calls asking them to dial *401# followed by some unknown mobile number. "This activates unconditional call forwarding received on the mobile of citizens to the unknown mobile number. This allows fraudsters to receive all incoming calls and can be used for fraud," the statement said. Explaining the modus operandi of the scam, the DoT said a fraudster will call a telecom subscriber and pretend to be a customer service representative or technical support staff from their telecom service provider. The fraudster then states that either there is a problem with the

Govt warns users against dialling '*401#' followed by unknown mobile number
Updated On : 11 Jan 2024 | 10:23 PM IST

Telecom department blocks more than 1,500 numbers linked to cyber threats

The Department of Telecommunications (DoT) blocked international and local phone numbers associated with cybercrimes and threats, aiming to curb misuse of telecom resources

Telecom department blocks more than 1,500 numbers linked to cyber threats
Updated On : 10 Jan 2024 | 11:45 AM IST

Indian-origin realty developer booked for perpetuating $93 mn fraud scheme

An Indian-origin real estate developer has been charged by federal authorities in the US with perpetuating a USD 93 million fraud scheme. Rishi Kapoor, a Miami-based developer, faces charges filed by the Securities and Exchange Commission Wednesday. The SEC announced that it obtained an asset freeze and other emergency relief concerning the alleged USD 93 million real estate investment fraud perpetrated by Kapoor. The SEC also charged real estate company Location Ventures, its affiliate Urbin and 20 other related entities in connection with the fraud scheme, a statement said. According to the SEC's complaint, from approximately January 2018, until at least March 2023, Kapoor and certain of the defendant entities solicited investors by, among other things, making several material misrepresentations and omissions regarding Kapoor, Location Ventures, Urbin, and their real estate developments. The false statements allegedly included misrepresenting Kapoor's compensation; his cash ...

Indian-origin realty developer booked for perpetuating $93 mn fraud scheme
Updated On : 04 Jan 2024 | 10:30 AM IST

India's battle against scam epidemic: Govt, telcos tackle rising frauds

In this part of the year-end series, we unravel the web of tele-frauds and spams

India's battle against scam epidemic: Govt, telcos tackle rising frauds
Updated On : 25 Dec 2023 | 10:53 PM IST

Cognitive tools for thwarting scams

In an era where we constantly fear being swindled, a book that delves into the psychology of deception and offers guidance on steering clear of fraud becomes essential reading

Cognitive tools for thwarting scams
Updated On : 13 Nov 2023 | 9:03 PM IST

AePS Scam: Here are the things you need to do if you are a victim of fraud

If you are a victim of an AePS scam, there are a few things you need to do immediately to protect your money

AePS Scam: Here are the things you need to do if you are a victim of fraud
Updated On : 02 Nov 2023 | 6:07 PM IST

Kolkata police issues warning about WhatsApp hacking, says not to share OTP

Kolkata police issued a warning against fraudsters, who are hacking users' Facebook profiles and connecting with the people in their friend lists through Messenger and asking for money

Kolkata police issues warning about WhatsApp hacking, says not to share OTP
Updated On : 25 Jul 2023 | 3:01 PM IST

Nagpur police unearth 'task fraud', trace money trail to China; 6 held

The Nagpur cyber police probing a "task fraud" have unearthed a transaction involving the transfer of crime money to a Chinese individual through cryptocurrency and arrested six men from Mumbai, Gujarat and Rajasthan, a senior official said. Three of the six arrested men hail from Mumbai and suburban Nallasopara and the others from Rajasthan and Surat in Gujarat. The police seized 19 debit and credit cards, nine mobile phones, a laptop, and cash worth Rs 7.87 lakh. Additionally, the police have frozen Rs 37.26 lakh from the bank accounts of the accused individuals, the official said on Saturday. On the modus operandi of such a crime, Deputy Commissioner of Police (cyber) Archit Chandak at a press conference said fraudsters employ different teams to handle various tasks, including an IT team to monitor transactions and a banking team to facilitate their activities. The fraud involves promise of money for performing tasks like liking videos and giving reviews for products. Later, the

Nagpur police unearth 'task fraud', trace money trail to China; 6 held
Updated On : 25 Jun 2023 | 9:38 AM IST

Work-from-home scams rising in India; here's all you must know about them

Work-from-home scams have become increasingly common in India, with people falling prey to fraudulent schemes that promise easy money

Work-from-home scams rising in India; here's all you must know about them
Updated On : 20 Jun 2023 | 6:20 PM IST

Gurugram techie loses Rs 42 lakh in 'like YouTube videos' WhatsApp scam

The cybercrime division filed an FIR against the unknown fraudsters under relevant sections of the Indian Penal Code (IPC) and the Information Technology (IT) Act

Gurugram techie loses Rs 42 lakh in 'like YouTube videos' WhatsApp scam
Updated On : 15 May 2023 | 4:03 PM IST

Power Bank App fraud case: ED conducts searches at 14 locations, 3 arrested

The Enforcement Directorate (ED) on Friday conducted searches in as many as 14 premises in Surat SEZ, Ahmedabad and Mumbai in connection with an alleged Power Bank App fraud case

Power Bank App fraud case: ED conducts searches at 14 locations, 3 arrested
Updated On : 04 Mar 2023 | 9:48 AM IST

Trai tells telecom operators to block pesky calls, SMSes from telemarketers

Alarmed at the rising pesky mobile calls and text messages by telemarketers, the Telecom Regulatory Authority of India (TRAI) on Thursday

Trai tells telecom operators to block pesky calls, SMSes from telemarketers
Updated On : 16 Feb 2023 | 5:28 PM IST