Online Frauds

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

Beware of fraudulent govt emails: Home ministry issues public warning

Ministry of Home Affairs' Indian Cyber Crime Coordination Centre (I4C) issues a public notice advising citizens to verify e-notices they receive via email

Truecaller, HDFC ERGO tie up for insurance product to safeguard subscribers

Caller identification app Truecaller on Thursday said it has collaborated with general insurance company HDFC ERGO for an offering that aims to safeguard subscribers against digital communication frauds in India. Truecaller in a release said that amid rising cases of cyber fraud, the insurance offering underscores its commitment to combating fraud and ensuring user protection through advanced app features - before, during and after mobile communication. A recent report by the Indian Cyber Crime Coordination Centre revealed that digital financial frauds accounted for a staggering Rs 1.25 lakh crore over the last three years, the release noted. Announcing the collaboration with HDFC ERGO to offer this insurance for its subscribers, the release said the product will provide coverage up to Rs 10,000 to Android and iOS users across India. "The product is available to yearly premium subscribers of Truecaller and all existing customers can avail this protection for free under their existi

Number of frauds in banking sector on the rise, but amount declines

89.2 per cent of the frauds reported in 2023-24 by value occurred in previous financial years

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

Beware of stock investment-related calls from these two numbers, warns NSE

The NSE warned the investors against sharing their login credentials with any person claiming to be a member of any registered entity of the exchange

Southeast Asian nations account for half of financial frauds in India: MHA

Cambodia, Thailand, Myanmar emerge as the new global hotspots of online frauds

Mumbai women lose Rs 53 lakh to 'task fraud': Latest scam decoded

In a 'task scam', fraudsters pose as representatives of reputable companies, offering seemingly easy remote work opportunities

Woman loses Rs 23 lakh in online stock market scam: How to protect yourself

Mohammad Daud targeted a 32-year-old woman with a website on social media that promised high profits from stock market trading