As India gears up for its vibrant festive season, starting with Onam in mid-September and continuing through Diwali, there’s an air of excitement and anticipation. This period traditionally marks a time of celebration and increased consumer spending across various sectors. The Indian festive season has long been synonymous with shopping and gifting. From automobiles to … Read more
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
Mumbai: In a strategic move to combat financial fraud in healthcare reimbursements, MediBuddy has launched a state-of-the-art fraud detection system named ‘Sherlock’. This system harnesses the power of artificial intelligence (AI), machine learning (ML), and data analytics to detect and prevent fraudulent activities in real-time. Sherlock is equipped with sophisticated AI and ML algorithms that … 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
NEW DELHI: Taxpayers would not need to mention their high-value transactions in their income tax returns, said officials in the know of the matter, but added that broadening the scope of reporting financial transactions by third parties had become vital since taxation was moving towards a faceless approach. “There is no such proposal to modify … Read more