Digital financial fraud is here to stay; it’s important to be aware of the dangers to stay protected
The landscape of financial transactions has undergone a sea change over the last couple of years and digital fraud is adapting as well.
The fraud was first reported in the media last week after a few arrests in Maharashtra, but the total amount transferred was under Rs 2 crore.
A transaction-tracking app using red, yellow and green messages to warn account holders when they are paying out more or less than usual has resulted in some users spending less, a potentially powerful new weapon in the battle for customers.
Vijay Mallya said in India investigative agencies are political tools that do not hesitate to go on a wild-goose chase
Mendocino said if UBHL does not consummate debt financing, it would have a material adverse effect on the company's ability to continue to operate
ED is also mulling attaching domestic assets and shares worth about Rs 9,000 crore owned by Mallya in this case
ED will take banks on-board too before attaching these assets under PMLA laws
The Bangladesh central bank says it is working to recover some $100 million it lost from an account at the Federal Reserve Bank of New York.
Thirty CBI investigators took classes at IIM-B on financial intelligence and analytics, and were given an overview of issues like financial marketsand cyber crime.
Indian financial institutions are still taking a channel-wise approach to tackling online frauds, as opposed to taking a holistic approach.
Biztech2.0 spoke to some leading CIOs to understand how the Satyam episode will impact the governance framework of enterprises.