MONEY MULE SCAM

Mule accounts are bank accounts that are used to launder proceeds of crime by fraudsters. In an age when there are strict laws on holding or using large amounts of cash, transactions in the banking system cannot be avoided. At the same time, crimina...

India faces a surge in cyber fraud from Southeast Asia, surpassing domestic hotspots. Nearly half of the defrauded money comes from scams such as investment, trading, digital arrest, and dating scams. Between January and April 2024, Rs 1,775 cr was ...

A 52-year-old woman entrepreneur, defrauded of Rs 2.7 crore by cybercrooks, is set to recover Rs 1.7 crore after police traced and froze the miscreants' bank accounts. Prompt filing of a police complaint facilitated the freezing of accounts, with po...

Enforcement Directorate seized Rs 90 crore from cryptocurrency wallets in a money laundering probe connected to the 'E-Nugget' online gaming scam, involving high returns and multiple arrests with assets worth Rs 163 crore seized or frozen.

The Indian financial system, recovering from a history of bad loans, faces new challenges as banks grapple with technology pitfalls. Kotak Mahindra Bank Ltd. was recently penalised for security deficiencies, highlighting broader risks of fraud and s...

Bank account block: There are at least 5 Indian banks who are tracking money mule transactions conducted through their account holders. In this regard HDFC Bank has already taken an action and launched investigation too in the suspected cases. Know ...

Digital banking frauds: Mule Accounts are being used to launder money and what's worst is that legitimate Indians are lending their bank accounts and others for some incentive and helping in furthering this type of fraud. According to BioCatch, a Is...

It’s essential to establish robust passwords and regularly update them. Avoid easily guessable passwords. Enhance security further by enabling two-factor authentication. Users must remain vigilant against unsolicited emails and texts that request cl...

The police on Saturday busted a Rs 854 crore cyber fraud scam and arrested six people involved in it. The gang allegedly cheated thousands of victims across India in the name of investment scheme, as per the Bengaluru police.

The Bengaluru Police have arrested six individuals in connection with a Rs 854 crore cyber fraud scam. The accused allegedly cheated thousands of victims across India through an investment scheme. The police have identified three other individuals b...

Because of AI, attacks are going to get faster and easier, they are also going to increase. Up until now, if you would be receiving emails, you might be ignoring it because of the language it was in. Now just take the same text and put it in ChatGPT...

A money mule is a person who moves or transfers money that has been obtained unlawfully on behalf of another person in exchange for quick financial advantages.

It may appear harmless, but you are giving away your passwords or answers to security questions.

There are various ways in which fraudsters may try to deceive you into giving them your personal and security details. Here are 8 tips to use internet banking safely.

Customers often fall prey to various types of frauds such as money muling, among others, largely due to inadequate awareness both within banks and customers.

The growing use of digital currency will result in rise in cyber laundering as hacking attacks and online scams take centre stage on Internet.

Not a techie? Not a problem! If you can dial a phone, use an instant message service, or sign a lunch cheque, you’re good to go.

In a depressed job market that has youth frantically searching for jobs online, a threat of enormous proportions looms for the unwitting ones: They could be hired as 'money mules', often without knowing its implications, and end up behind bars.

The worsening economy appears to be helping computer crooks with one of their toughest tasks: tricking people into opening their homes a nd bank accounts and becoming "mules" for laundering money or stolen goods.