ICICI BANK SCAM
Don't leave your crease: ICICI Bank asks UPI users to follow cricket strategy to stay safe from frauds
ICICI Bank issued a warning about rising fake UPI payment scams, urging caution through social media. They shared a video advising users to verify unexpected UPI notifications carefully to avoid scams where scammers claim to have sent too much money and pressure victims to return excess amounts urgently. This alert coincides with a significant increase in digital payment fraud cases reported by the RBI. ICICI Bank encourages prompt reporting of cybercrimes and offers tips to protect against fraudulent transactions.
RBI strikes against UPI, digital payment fraud, plans to set up a digital payment intelligence platform
Fight against digital payment frauds: The RBI proposes a digital payments intelligence platform to combat a surge in digital payment frauds. Fraud cases reported to the RBI jumped 300% to 36,000 in FY23 compared to FY22, highlighting the need for a system-wide approach. The central bank forms a committee that will examine setting up this infrastructure to facilitate real-time data sharing across the digital payments ecosystem.
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.
Buy Apple iPad for just Rs 30,000 with special bank discounts: Check offers, eligibility, specs
Croma is offering the Apple iPad 10th generation at a discounted price of Rs 30,000 for ICICI and SBI credit card holders, down from the listed price of Rs 33,900. Key features of this model include a sleek flat-edge design, 5G support, a Type-C port, a 10.9-inch display with slim bezels, a 12-megapixel rear camera, and an A14 Bionic chipset. The device is compatible with the Magic Keyboard Folio and supports regular software updates.
Pig-butchering stock market get rich quick scam: Telegram, Instagram, WhatsApp used to steal lakhs from investors; tactics used, how to stay safe
A 32-year-old woman was scammed after joining a Telegram channel promising high returns. The scam targeted homemakers and retired individuals through unverified channels. Scammers impersonated advisors from reputed banks like HDFC, SBI, and ICICI. Delhi Police have been actively arresting scammers involved in these fraudulent activities.
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Daily Stock Tips: How 100 fraudsters tricked 200 investors through Telegram, Instagram, and WhatsApp
Investment scams on social media platforms lure victims with promises of high returns. Delhi Police have arrested over 100 fraudsters employing sophisticated tactics. Scammers pose as representatives of reputed firms, offering free stock recommendations and making unrealistic promises. Victims, often homemakers and retirees, fall prey to pressure tactics, losing their hard-earned money.
Gurgaon businessman withdraws Rs 6 crore through 141 bank accounts, arrested
A Gurgaon businessman was arrested for siphoning Rs 6.1 crore from a software company's account. Alleged mastermind Harmeet Singh Malik was intercepted at Mumbai airport while trying to flee to Dubai. The operation involved multiple accomplices, with funds routed through various bank accounts and cryptocurrency transactions. Six arrests have been made, while two suspects remain at large.
You won't lose money in banking frauds if you remember these two things: RBI shares tips
How can you protect yourself from frauds? The Reserve Bank of India (RBI) has time and again come up with various guidelines and to-do lists to save customers from frauds. First thing that you must do is to activate instant alerts for all banking transactions. Here are the other rules you need to keep in mind to minimise your loss in financial frauds. RBI shares useful tips for you.
ICICI Bank branch manager forged signatures, siphoned off 'Rs 11.95 crore' by transfer and cash, alleges the customer; case in EOW's net
ICICI Bank branch manager commits fraud: A branch manager of ICICI Bank has forged the signature of a customer with the intention to commit fraud. It is being alleged that the bank's branch manager managed to siphon off about Rs 12 crore and supplied the customer with fake fixed deposit receipt.
ICICI Bank customer accuses manager of stealing Rs 16 crore from her FDs. Bank responds
A Gurgaon woman accuses an ICICI Bank manager, reported by BBC, of embezzling Rs 16 crore from her life savings. The manager created fake accounts, forged signatures, and manipulated transactions, leading to a police investigation.
Banks set up panel to guard executives from corruption cases
Banks had been pressing for immunity from arbitrary arrest or action by investigating agencies against their top executives for taking commercial decisions such as grant of loans, but there has been little headway on this demand so far.
ICICI Bank branch manager duped depositors of crores for years to meet targets
ICICI Bank Scam: Branch manager of ICICI Bank Dhariyawad branch in Rajasthan's Pratapgarh district used unsuspecting deposit holder's money to fulfil business target for years. The scam got intensified when a few months ago a Udaipur based individual started blackmailing the branch manager and got paid in 'crores' in hush money. SP Amit Kumar, Rajasthan Police led the investigation and found the truth.
Bankruptcy court orders liquidation of Mehul Choksi-promoted Gitanjali Gems
The company was originally admitted under the Corporate Insolvency Resolution Process (CIRP) in October 2018. It has admitted liabilities of over Rs 12,558 crore.
India's biggest bank fraud case: How ABG Shipyard steered the scam ship to divert funds
ABG Shipyard Ltd, accused in India's biggest bank fraud case, created 27 "paper companies" and used 38 Singapore-based group entities to divert funds borrowed from ICICI Bank-led lenders. The Enforcement Directorate's chargesheet reveals that the diverted funds were transferred to Singapore and invested in tax havens. The paper companies were created solely for the purpose of facilitating circular transactions.
In 2023 India Inc. learnt hard lessons on families, friends and partners
India Inc 2023: The year 2023 saw significant turmoil within several prominent Indian businesses, including Bharat Forge, Indigo, Raymond Group, and Religare Enterprises. These disputes among family members, friends, and stakeholders shed light on critical issues. It emphasized the necessity for clear succession plans, strategies to shield companies from relationship conflicts, and improved scrutiny of stakeholders. This upheaval serves as a crucial lesson for corporate India, urging the development of better approaches to confront future challenges in a maturing corporate landscape, especially as women in top roles assert their influence.
Bomb blast threat to RBI and other major banks in Mumbai; no suspicious object found, say police
The Reserve Bank of India (RBI) and two banks, HDFC and ICICI, on Tuesday received threatening mail demanding resignation of Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das. The sender claimed that bombs would be planted at RBI's office, along with the premises of two banks, media reports suggest.
ICICI Bank warns customers against new fraud: Do not...
Private lender ICICI Bank in a new email warned customers against bank frauds done by scammers posing as employees. In the email sent to account holders, ICICI Bank listed points on what scammers may ask you to do and how you may dodge them. It also said that the bank will never ask you for any personal or sensitive information, which fraudsters generally ask for.
After Chinese betting app scam, Gujarat cops now chasing Malaysian 'Big Boss' in Rs 33 crore scam
Gujarat police are pursuing a Malaysian individual known as 'Big Boss' in a scam worth Rs 33 crore. The scam involved the transfer of money from bank accounts in Saurashtra to Kuala Lumpur. The police are investigating the number of people enticed by promises of high returns on bets placed through fraudulent apps.
Delhi man loses over Rs 1 lakh in Big Bazaar discount ad scam on social media
A total of Rs 40,000, Rs 39,900, and Rs 40,000 were deducted from the man's account. Delhi man realised that his debit card had been hacked when he noticed these unauthorised transactions, leading him to block his debit card and report the incident to Flipkart and ICICI Bank.
Deepak Parekh bids adieu: Why the man who built HDFC never owned more than 1% of it
The filial relations as a metaphor have been on Parekh's mind. Last year, while announcing the plan to merge HDFC with its bank, Parekh had said, "As the son grows older, he acquires the father's business." He is leaving when the son, HDFC Bank, has grown up enough to take care of the father, HDFC.
Is the worst over for market? Don’t be so hasty, says Nitin Raheja
The Indian stock market is likely to trade in a range for some time, with volatility possibly returning. Selecting the best private bank requires assessing its risk management culture and consistent growth, combined with a liability franchise better than its peers, and clean books. While IT stocks are currently underperforming, Raheja believes these companies have generated cash and dividends during prior economic cycles, and represent a potential value play.
ICICI-Videocon loan case: Chanda Kochhar, husband Deepak Kochhar likely to be released today
Deepak Kochhar is lodged in Arthur Road Jail in central Mumbai, while Chanda Kochhar is housed in the nearby Byculla women's prison.
Venugopal Dhoot: Here’s all you need to know Videocon Group founder
Venugopal Dhoot was arrested earlier this week along with ICICI Bank's former MD and CEO Chanda Kochhar and her husband Deepak Kochhar in an alleged ICICI Bank loan scam.
Chanda Kochhar: Fall of the banking sector titan
Chanda Kochhar's chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Online job scam: Enforcement Directorate freezes 80 bank accounts with Chinese links
According to the agency, 16 locations of the banks and payment gateways, including Phonepay, Paytm, Googlepay, Amazonpay etc. and few banks like HDFC Bank, ICICI Bank, Dhanalakshmi Bank, were searched between Monday and Tuesday in an alleged money-laundering case related to 'Super Like Online Earning Application (part-time job scam)'.
Sebi debars Mehul Choksi from markets for 10 years
Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi. Both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
Sensex@1,00,000 by 2025? What will lead the market? Hiren Ved answers
“Our top three picks continue to be the same as last year because one holds on to stocks for multi-year cycles unless one genuinely believes that either the external environment is completely changed or the hypothesis has turned on its head which has not happened, frankly.”
ABG Group's founder-chairman Rishi Agarwal arrested in Rs 22,842-crore fraud case
Agarwal, the then CMD, was booked along with the company in February. Besides Agarwal, the then Executive Director Santhanam Muthaswamy, Directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and another company ABG International Pvt Ltd were also named in the FIR.
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