Banking Fraud

Showing of 1 - 20 from 24 results
Banking Fraud - Total results - 24
Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges
Business

Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges

The Enforcement Directorate (ED) on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court here

SBI lays out six protocols for customers to safeguard information from fraudsters while banking online
India

SBI lays out six protocols for customers to safeguard information from fraudsters while banking online

State Bank of India has asked its customers to follow six important protocols in order to safeguard their personal information from fraudsters

Exclusive: PNB hit by another fraud, CBI investigating alleged Rs 250-crore scam by Hanjer Group
Business

Exclusive: PNB hit by another fraud, CBI investigating alleged Rs 250-crore scam by Hanjer Group

Punjab National Bank (PNB), which was defrauded of Rs 11,400 crore by Nirav Modi, has been hit by another scam, this time by the Hanjer Group of companies.

Indian bank frauds up, will continue to rise; root cause not addressed, says Deloitte survey
Business

Indian bank frauds up, will continue to rise; root cause not addressed, says Deloitte survey

According to the third edition of Deloitte India Banking Fraud Survey released on Sunday, about 84 percent of survey respondents pointed to a substantial rise in fraud incidents.

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response
Business

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response

The Reserve Bank of India (RBI) has clarified in the RTI that only those cases of fraud, involving a sum of over Rs 1 lakh, were included in the list.

Rs 824 cr Kanishk Gold fraud: CBI grills directors Bhoopesh Jain, wife Neeta; files case on SBI’s complaint
Business

Rs 824 cr Kanishk Gold fraud: CBI grills directors Bhoopesh Jain, wife Neeta; files case on SBI’s complaint

Kanishk Gold makes gold jewellery marketed under the brand 'Krizz', which were sold through distributors till 2014.

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks
Business

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks

It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.

The great Indian banking circus: A guide on how to use the Aam Aadmi and Mr Fraud counters
Business

The great Indian banking circus: A guide on how to use the Aam Aadmi and Mr Fraud counters

The common man’s role in this saga is to pay taxes on time to help refuel banks, so that lenders don’t run out of funds to feed Mr Fraud.

Another bank fraud uncovered: Chennai jeweller accused of duping 14 banks of Rs 824 crore
Business

Another bank fraud uncovered: Chennai jeweller accused of duping 14 banks of Rs 824 crore

In yet another fraud played on banks, a Chennai-based jeweller Kanishk Gold Pvt Ltd (KGPL) has been accused of defrauding a consortium of 14 banks led by the State Bank of India (SBI) to the tune of Rs 824.15 crore in the form of loans that have now been declared as non-performing asset (NPA).

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report
Business

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report

Chennai-based Kanish Gold has a registered office in T Nagar in and is owned by promoters and directors Bhoopesh Kumar Jain and his wife Neeta Jain, says report

Blockchain can improve India's trade finance system but must address certain challenges: Report
Business

Blockchain can improve India's trade finance system but must address certain challenges: Report

Banks in India should start conducting proof of concept with blockchain technology to get a deeper understanding of its likely implication in trade and finance.

Life after PNB fraud: As the heat turns on India's bankers, a loan squeeze may hurt economy
Business

Life after PNB fraud: As the heat turns on India's bankers, a loan squeeze may hurt economy

Circa 1996, state-controlled Indian Bank faced a Rs 1,336 crore scam which after inflation-adjustment may compare well in size with the PNB fraud.

Gurmit Singh Mann named in FIR against Simbhaoli Sugars; executive chairman served as MD between 1972-2013
Business

Gurmit Singh Mann named in FIR against Simbhaoli Sugars; executive chairman served as MD between 1972-2013

Gurmit Singh Mann has been the Executive Chairman of the Board of Simbhaoli Sugars Limited since 2013 and been associated with the company for 38 years in his over 46 years of experience

Nirav Modi scams PNB: The prime minister and his govt must put an end to this ‘Gujarat model’ of financial manipulation
India

Nirav Modi scams PNB: The prime minister and his govt must put an end to this ‘Gujarat model’ of financial manipulation

Jeweller Nirav Modi joins a list of smart young Gujarati men — including Harshad Mehta, Hiten Dalal, Jatin Mehta and Ketan Parekh — who have in the last few years easily taken thousands of crores each from Indian banks

PNB MD can't be taken at face value: Here's why Sunil Mehta can't merely blame junior staffers for Nirav Modi row
Business

PNB MD can't be taken at face value: Here's why Sunil Mehta can't merely blame junior staffers for Nirav Modi row

PNB MD Sunil Mehta needs to clarify whether “clean, responsible and responsive banking” needs the establishment of a system of checks and balances.

Vijay Mallya extradition trial: More defence witnesses to depose at fourth hearing today
Business

Vijay Mallya extradition trial: More defence witnesses to depose at fourth hearing today

Vijay Mallya, 61-year-old liquor baron, will be back in the dock at Westminster Magistrates' Court in London for day four of hearing

An Indian bank appears to be scamming its customers; here’s how an alert citizen discovered it
News & Analysis

An Indian bank appears to be scamming its customers; here’s how an alert citizen discovered it

Karthik Srinivasan, a Digital Marketer from Bangalore was going through his email when he discovered that HDFC Bank had been charging him Rs 100 per quarter for a program he never signed up for.

Demonetisation: ED registers case against Noida Axis Bank branch for forging customer identity
India

Demonetisation: ED registers case against Noida Axis Bank branch for forging customer identity

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.

Japanese banks raise guard after $16 mn taken from ATMs
World

Japanese banks raise guard after $16 mn taken from ATMs

Japanese banks that lost some 1.8 billion yen when fake overseas cards were used at convenience store ATMs are scrambling to combat such fraud.