FRAUDULENT FILING
These 10 transactions will be reported as fraud to RBI, as per new rules
The RBI said in a circular dated July 16, 2024, “These master directions have been prepared based on a comprehensive review of the earlier Master Directions, circular and emerging issues. These Master Directions are principle-based and strengthen the role of the Board in overall governance and oversight of fraud risk management in the Regulated Entities (REs).”
Puja Khedkar's parents 'on the run' after FIR filed against them: Police
Pune Rural SP Pankaj Deshmukh mentioned that multiple teams, including officials from local crime branches and police stations, are conducting searches in Pune and nearby areas where the accused have properties.
Delhi HC orders Meta, WhatsApp, NPCI and banks to restrict accounts misusing Razorpay’s identity
The Delhi High Court has directed social media platforms to remove accounts misusing Razorpay's trademark for fraudulent activities. Banks are instructed to freeze accounts used by fraudsters. Razorpay obtained a John Doe order to prevent unauthorized use of its trademark and protect customers against scams. Legal action taken against fake recruiters on WhatsApp, Facebook, Telegram to maintain brand trust.
EPF new rules: EPFO issues SOP on how to freeze, defreeze UAN
In order to detect probable situations of suspicious accounts or transactions where there may be a risk of impersonation or fraudulent withdrawals, multiple stages of verification for MIDs, UANs, and institutions will be carried out as part of the SOP. Here is a look at EPFO's latest SOP freezing and defreezing UANs of EPF subscribers.
Workers sue Disney claiming they were fraudulently induced to move to Florida from California
In July 2021, the Disney Parks' chief told workers in California that most white-collar employees would be transferred to the new campus in Orlando to consolidate different teams and allow for greater collaboration. As many as 2,000 workers in digital technology, finance and product development departments would be transferred to the campus located about 20 miles (30 kilometers) from the giant Walt Disney World theme park resort, the company said at the time.
NIA charge sheet against 5 persons for trafficking Indian youths, coercing them into online fraud work
According to NIA investigations, the accused targeted Indian youths proficient in computers and English language, and coerced them into working in fraudulent call centres on tourist visa for pecuniary gains. The victims were being recruited, transported and transferred from India to the Golden Triangle SEZ in Lao PDR via Thailand, the NIA said.
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Quantum MF files suit against ICICI Securities delisting, cites loss in share swap deal, valuation
Amidst the tussle between ICICI Bank and retail shareholders over the delisting of its unit ICICI Securities from the Indian bourses, Quantum Mutual Fund has filed a suit against the delisting in the National Company Law Tribunal (NCLT), Mumbai branch.
Fake job offers in India or abroad: How to spot a fraudulent job offer, know the full list of authorised agents for foreign jobs
Fake job offers: India is such a country where millions of young people reside and many of them are searching for a job either within India or abroad. Younger people have aspirations and enthusiasm which fraudsters are using to dupe them with fake job offers. In the recent past many young Indians were taken abroad to work in scam jobs, etc.
Frauds by bank employees: Take these steps to ensure branch manager or any other employee does not run away with your money
Fraud by bank employees: Many reports of bank employees defrauding customers of the bank. These are the cases where the bank and its customers both are the victims of fraud by the employee(s). In a recent judgement by the SC, it was said that banks would be held liable for criminal misconduct by its employees.
SBI, ICICI Bank, Axis Bank, PNB, AU Small Finance Bank warn customers about banking frauds; different scams, ways to safeguard yourself
Bank frauds: SBI recently issued a warning about a scam involving the distribution of an Android Application Package (APK) to users under the guise of redeeming SBI reward points and the precautions to take. Let us take a look at some of the frauds that big banks in India have been warning customers about and how one can stay safe.
IRS warns against false tax returns, threatens fines and criminal proceedings. Here are details
Internal Revenue Service or IRS has issued a warning against false filing of tax returns. The penalties could include a steep fine and/or initiation of criminal proceedings.
Man files ITR, finds company with Rs 9 crore turnover opened in his name
Chandan Soni, a resident of Gwalior, discovered that his personal details – PAN card and Aadhaar card – had been misused to create a fraudulent GST number and a fake company in his name. This company, "MG SALES", even showed a fabricated turnover exceeding Rs 9 crore. Now, the Delhi Police's Economic Offences Wing is investigating this identity theft and potential financial crime.
RBI plans curbs on suspect bank accounts to fight cyber fraud
RBI plans to amend guidelines allowing banks to temporarily freeze accounts suspected of cyber crimes, combating a surge in online fraud. Victims currently face delays in freezing accounts, hindering recovery. The Reserve Bank of India aims to empower banks to suspend accounts linked to cybercrime without requiring police reports first.
Zilingo's Ankiti Bose files FIR against cofounder Dhruv Kapoor
According to the FIR, in March 2021, the company’s cofounder Dhruv Kapoor and its former chief operating officer Aadi Vaidya allegedly threatened Bose and sought sexual favours.
Punjab and Haryana High Court quashes FIR filed against Emaar India
The High Court of Punjab and Haryana quashed the FIR against Emaar India and JLL India, citing undervaluation and fraud allegations as baseless. The case involved accusations of asset manipulation during demerger, with no criminal elements found in the complaint.
Scam Exposed: Bengaluru man's viral chat reveals fraudulent techniques, Paytm's Vijay Shekhar Sharma reacts
A Bengaluru resident, Chetty Arun, engaged in a revealing chat with an online scammer, exposing the scammer's deceptive techniques. Arun's conversation not only shed light on the methods used by scammers but also garnered attention from Paytm founder Vijay Shekhar Sharma. The interaction highlighted the importance of cyber security awareness and vigilance in combating online fraud.
2020 riots: HC asks ED to file submissions backing claim of Tahir Hussain's plea for nixing PMLA case not maintainable
The Delhi High Court directed the Enforcement Directorate (ED) to submit written arguments supporting its claim that Tahir Hussain's plea to quash a money laundering case linked to the 2020 northeast Delhi riots was not maintainable. Justice Swarana Kanta Sharma issued the order after the ED's counsel challenged the maintainability of Hussain's petition.
ED files additional chargesheet in Bhushan Steel case
Enforcement Directorate chargesheet includes Bhushan Steel and Bhushan Energy funds misappropriation with 156 accused. Properties bought with siphoned funds, Mercedes seized, money-laundering probe ongoing.
ED files additional chargesheet in Bhushan Steel case
Enforcement Directorate chargesheet includes Bhushan Steel and Bhushan Energy funds misappropriation with 156 accused. Properties bought with siphoned funds, Mercedes seized, money-laundering probe ongoing.
What's Chakshu portal? How to report fraud spam calls, messages and cybercrime on this portal?
The government has launched Chakshu portal under Sanchar Sathi initiative to combat telecom fraud, empowering users to report suspicious calls and leaked phone numbers. Department of Telecom has also introduced Digital Intelligence Platform to share information, aiding fraud prevention. Citizens can report fraud via Chakshu portal. Telecom Secretary Neeraj Mittal emphasizes safeguarding digital assets.
ED raids residences of associates of absconding TMC leader Shajahan Sheikh
The Enforcement Directorate conducted raids at residences linked to fraudulent land grab and export-import businesses with absconding Trinamool Congress leader Shajahan Sheikh. The raids targeted places in Sandeshkhali, Howrah, Bijoygarh, and Birati, as part of investigations into multiple cases involving Shajahan.
Vidya Balan files FIR against online impersonator conning people with fake jobs
Vidya Balan has lodged a police complaint against an unidentified individual for creating fake social media accounts in her name, leading to fraudulent activities and false promises of job opportunities. Prompted by a close contact's alert about suspicious communication, Balan denied association with the fraudulent accounts and swiftly took legal action.
Mahadev app case: ED acting at behest of its political masters, alleges Bhupesh Baghel
The ED in its second prosecution complaint (charge sheet) filed before a special court in Raipur on January 1 stated that alleged courier Asim Das, arrested in the Mahadev betting app case, who claimed he had been sent to "deliver" cash to Bhupesh Baghel, has retracted his denial of having made the charges.
New York state seeks $370 million from Trump in fraud case: Court filing
Trump, the frontrunner for the 2024 Republican presidential nomination, and his two eldest sons are accused of fraudulently inflating the value of their real estate assets to receive more favorable bank loans and insurance terms.
Jai Corp's Virendra Jain makes highest bid for Rolta India
The company received nine bids mostly ranging between ₹500 crore and ₹700 crore to settle the total debt of the company which amounts to ₹14,000 crore, these people said. Jain's bid includes some conditional payments linked to insurance claims filed by Rolta and also recoveries from certain fraudulent transactions by the erstwhile promoters, these people said.
Who is Amit Patel? Former Jacksonville Jaguars executive who allegedly swindled $22M for lavish lifestyle
In a court case filed in Jacksonville, Florida, former Jacksonville Jaguars executive Amit Patel allegedly embezzled $22 million from an unnamed American football team, misusing the team's funds for personal expenses like luxury items, cryptocurrency, and property investments. Patel, who manipulated the team's Virtual Credit Card system, faces charges of wire fraud and illegal monetary transactions. The team confirmed being the victim but clarified Patel had no access to sensitive football-related information.
Don't scan the scam: Beware of fraudulent QR codes this festive season
A malicious QR code is plastered across billboards or posters and flyers or through email links or on ecommerce sites with a wrong QR code, so the transactions are all routed directly to the fraudster's account. Sometimes the code is used to siphon off money or to install a link, which will help in orchestrating a bigger fraud.
Former employee ordered to repay Rs 7 lakh for submitting fake travel bills as reimbursements
The employee, S Abdul Khadar, tampered with bus tickets and submitted fraudulent travel expense claims. Despite receiving a notice, Khadar did not respond, and in 2014, the court ruled in favor of the company. In another news, an employee in Mumbai has been booked for embezzling Rs 35.88 lakh from a company's account.
Delhi HC orders investigation into scam conducted under the guise of AJIO: what it is and how it duped people
The AJIO scam revolves around a nefarious scheme in which perpetrators employ scratch coupons, cards, and prize money offers to deceive unsuspecting individuals. Operating under the pretence of AJIO, these scammers coax people into depositing money for their deceptive schemes. Victims have reportedly been convinced to deposit sums ranging from Rs 5,000 to Rs 10,00,000 with the promise that they would gain access to lucrative scratch card rewards post-deposit.
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