In recent years, financial fraud has surged dramatically in India. According to the Reserve Bank of India (RBI), there were over 36,075 cases of financial fraud in FY24, with 29,082 involving digital payment methods like card or internet transactions. This alarming rise, from just 2,677 cases in FY19, underscores the necessity for vigilance in the … Read more
The Tamil Nadu police’s Cyber Crime Wing has issued an user advisory over the SBI Reward Points Scam after it received 73 complaints in two months. “In recent incidents, hackers have used compromised WhatsApp accounts to send fake messages about ‘SBI Reward Points’ to various official and personal WhatsApp groups. The hackers may also change the … Read more
The Reserve Bank will ‘shortly’ come out with revised guidelines on fraudulent account classification to take into account the recent apex court order that asked lenders to ensure natural justice to a defaulter before labelling him a fraudster. “The SC has given a judgement, saying natural justice has to be provided to a borrower before … Read more