Financial Fraud

Ponzi schemer Bernie Madoff dies in American prison; he was 82

A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that Madoff swindled out of thousands of people over decades

Delhi Police files FIR against Haryanvi singer Sapna Choudhary for misappropriation of funds, cheating

The case was registered on a complaint by Pawan Chawla of celebrity management company P&M Movies Pvt Ltd, who has accused the singer of misappropriating a huge amount collected by organising several events clandestinely and multiple loans worth Rs 3.5 crore

A year after PMC Bank scam, RBI says NPAs rise in urban co-operative banks, losses balloon up

The Reserve Bank of India said the quantum of gross NPAs in the 1,539 UCBs increased to Rs 33,010 crore at end-FY20 from Rs 22,093 crore a year ago

US authorities file lawsuits against call centres, mostly from India, for making fake robocalls to its citizens, causing financial losses

The US alleges that the defendants operated voice over internet protocol (VoIP) carriers, which use an internet connection rather than traditional copper phone lines to carry telephone calls.

Fraud-hit CG Power chief executive KN Neelkant resigns from subsidiaries amid investors' pressure for his ouster

Investors and lenders want completely new management to run CG Power, for which they believe Neelkant to go, sources said.

SBI's unprotected data server leaked account details of millions of customers; situation now under control

There are no details as to how long the server was password-less, but it was discovered by a security researcher and has now been secured

Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate

Mallya could perhaps have avoided the ordeal had he chosen to stay back and fight the case. Even now, Mallya owes several months of salary dues to his employees, which has added to the public resentment against him.

Aadhaar privacy issues extend beyond the security of its biometric database

There is a robust need for safeguarding our data and own responsibility for it.

Fortis Healthcare case: Shivinder Singh says elder brother Malvinder forged wife's signature, led firm into debt trap

Shivinder Singh, the younger of the Singh siblings, who were synonymous with each other for decades, sued Malvinder for "oppression and mismanagement" of their companies.

Using AI in financial fraud detection can help banks save unnecessary losses

AI is already causing massive upheaval in the banking and financial services industry.