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Banking frauds News

28 Dec 2021

4,071 banking fraud cases involving Rs 36,342 cr reported during H1 FY2022

In H1 2021-22, banks saw 1,802 reported cases of frauds amounting to Rs 35,060 crore which were related to advances. In terms of deposits, the number of reported cases of frauds stood at 208 of an amount involving Rs 362 crore, the report said. In the financial year 2020-21, the reported number of cases of frauds declined to 7,363 (Rs 1,38,422 crore) from 8,703 cases (Rs 1,85,468 crore) in 2019-20, it said.

24 Oct 2021

Online Banking Frauds: Here’s how to protect yourself from phishing attacks

Cybercriminals are continuously hunting for fresh victims from whom they can steal money. The phishing tactic is used by these con artists to take money from consumers who bank online. Trickery and deception are key to the crime.

25 Sep 2021

THIS Android malware steals banking data; Here’s how to remain safe

The Drinik malware is currently imitating an Income Tax Department software, and after a user has been duped into downloading it, it captures all sensitive data. The malware also forces the user to complete a transaction. The phishing procedure begins with the victim receiving an email or SMS containing a link to the phishing URL

toll free number

15 Aug 2021

Beware! Fraudsters using THESE toll-free lookalike numbers to dupe customers

State Bank of India (SBI) has further uploaded the notice on its official website to inform customers about the new fraud. The fraud comes under the category of social engineering and it is done via mobile numbers which are quite similar to the toll-free numbers used by major banks. The toll-free numbers start with codes like 800, 888, 844, 855, etc., with a ‘1’ attached to it as a prefix.

06 Nov 2020

Beware of banking frauds this festive season, know how you can stay safe

As people use online payments or digital methods of payment banking frauds are becoming more common. Stay alert and beware of hackers as they can use internet to siphon off money. There are around 6 types of banking frauds to stay wary off.

Arvind Subramanian

22 Mar 2018

To avoid future frauds, need to rethink PSB's ownership: Arvind Subramanian

He said that we need to have radical agenda for reform of the banking sector if we want these things not happen in future.

25 Jul 2017

76 banks report 5,076 cases of active banking frauds

A combined 5,076 cases of active banking frauds involving Rs 1 lakh or more causing losses of Rs 16,78,853 lakh were reported by 76 banks during 2016-17, Parliament was informed on Tuesday.

07 Jul 2016

'Need to make payments bank system fraud free'

Payments banks will help bring millions of people into the financial system but there is a need to make the system fraud free, a top official of Paytm Payments Bank said on Thursday.

23 May 2016

RBI looks to check customer liability in banking frauds

The objective is to plan, evolve, prepare, develop, promote and publish comprehensive codes and standards for banks and providing fair treatment to customers.

28 Dec 2014

India logs 40% annual increase in cyber crime cases

Hacking, publication of obscene contents, credit card and banking frauds among other cyber crimes have registered an annual increase of more than 40 percent in the country in the past two years.

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