Bill to check ponzi schemes put on hold

A proposed bill to check fraudulent multi-level marketing (MLM) or ponzi schemes has been put on hold by the government.

Frame proper guidelines to check frauds in coop societies: Madras HC

The Madras High Court Friday suggested the Tamil Nadu government to frame proper guidelines to curb frauds by functionaries of cooperative housing societies such as non-remittance of money paid towards repayment of loans.

QNet case: 2 more company representatives held

Two top representatives of QNet, a Hong Kong-based multi-level marketing company allegedly involved in a Rs 425-crore fraud here, were arrested Wednesday after being picked up from Delhi international airport, police said.

Rs 23 lakh worth fake products under Lenovo brand seized

Fake products under the brand name Lenovo, including laptop batteries and adaptors, valued at Rs 23 lakh, were seized Thursday in raids at three retail shops here.

Sebi to hire tax sleuths to beef up enforcement operations
Sebi to hire tax sleuths to beef up enforcement operations

Armed with powers to carry out search and seizure as well as arrest violators, the market watchdog has been cracking the whip on illegal money pooling activities.

RBI to step up vigilance on banking sector to prevent frauds

Reserve Bank of India (RBI) Deputy Governor R Gandhi on Tuesday said "continuous vigilance and intelligence gathering" would be the central bank's key focus areas to prevent recurrence of frauds.

Inoperative A/c norms should be strictly followed: EPFO

Retirement fund body EPFO has asked its field formations to strictly follow guidelines while settling claims out of inoperative accounts in order to reduce the risk of frauds.

FinMin directs banks to deal firmly with fraud, wilful default

As part of the strategy to contain bad debts, the Finance Ministry has directed all public sector banks to accord top priority to cases of fraud and wilful default and take legal action against those responsible.

To prevent corporate frauds, more needs to be done: EY survey

The findings come at a time when the instances of corporate misdoings and mismanagement are on the rise.

US needs to upgrade to `smart card` technology to curb frauds

Security experts have pointed out that the United States need to incorporate smart card technology, which offers a much higher level of encryption and security than the magnetic strip cards used in America.

Corporate frauds on the rise, says report

The number of domestic companies witnessing incidences of frauds has increased in the current year, with as many as 71 percent of surveyed companies saying their exposure to such instances rose, says a report.

`Reforms without regulations led to frauds, scams`

India would have been able to avoid corporate frauds and scams in high places had it put in place regulatory mechanisms and certain policies, Veerappa Moily said.