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Bank fraud News
SBI account holder? Alert! Lock your SBI Net banking now in just a few clicks
Fri, Sep 06, 2019
This security gap is now being plugged, much to bank account holders' relief. In an alert for customers, the country's largest bank, the State Bank of India (SBI) has launched a new feature where a customer can lock his/her Net banking access and unlock it when needed.
Paytm account holder? Alert! Do not download these Remote Apps, your bank account details may get leaked
Mon, Aug 19, 2019
This is an alert for Paytm account holders. They should know that such frauds fall under the malware phishing attack. Paytm users have been asked to beware of such frauds.
Malware phishing: Save money from bank frauds! Ignore these emails from 419 Nigerian fraudsters
Thu, Aug 08, 2019
Malware phishing: 419 Nigerian fraud is a kind of bank fraud in which bank fraudsters send an e-mail with luring offers. It also gives access to your debit and credit card.
Cheque cloning fraud EXPOSED! Bank account holders lose Rs 8 crore to fraud - Do this to save your money
Thu, Aug 08, 2019
For every bank account holder, having a cheque book is virtually a must. One of the top reasons for having a cheque book is that it is considered safer than other instruments available, like online ones.
HDFC Bank account holders? Fear losing money while doing online transactions? Do this then
Tue, Jul 16, 2019
This is a fake app intended to look like the original one. In many cases, the customers receive a phone call from a fraudster, who will claim to be a representative from a tech company/bank offering to fix some issues on your smartphone or mobile banking apps, and then ask you to download a mobile app.
Have debit card for bank ATM? Alert! Fraudsters can steal your money; HDFC Bank says don't do this
Mon, Jul 15, 2019
Nowadays hackers have come up with ingenious new techniques through which they get unauthorized access to a bank account holder's data and then they carry out fraudulent transactions via bank ATM or other sources.
CBI investigates on what basis banks gave loans to struggling Sterling Group
Mon, Jul 08, 2019
The Banking and Securities Fraud Cell of CBI has been examining documents and questioning officials of the lender banks for eight days. The focus of the CBI's investigation is to understand on what basis the loans had been sanctioned and if due processes were followed or not.
Beware! HDFC Bank warns about job frauds - You might get fake offer letter; here is what you must not do
Thu, Jul 04, 2019
HDFC Bank has sent out a notification on its website saying, "Be aware of fraudulent job offers."
Beware of online hackers! Avoid these 7 acts to keep your money safe online
Sun, Jun 16, 2019
The growing use of smartphone and technology has made us dependent on online banking, using mobile wallets and other important applications. But if you are careless, you may also become a victim of online frauds, spams and hacking.
What is 'Vishing' scam? Know how to avoid falling victim of this online banking fraud
Tue, Jun 11, 2019
The growing use of Internet banking and online transactions have made people's life easier but has given birth to new fraud called Vishing. A new form of scam which is known as ‘vishing’ targets the customers of Banks.
Here's why digital banking frauds have increased and steps you must take to protect money
Thu, May 16, 2019
Even as digital technologies have made the entire banking process easier than ever, the reports of digital banking frauds have increased many times in the last few years.
Have ICICI Bank credit card? These 5 ways will ensure you do not lose money
Wed, Feb 13, 2019
Private lender ICICI Bank recently issued a warning for its customers, asking them not to open emails from unknown sources as it can be a trap by online malware cyber attack. This was another reminder that the customers need to be more aware to ensure they don't lose their hard earned money.
Big decision by court - Banks liable for unauthorised withdrawals even if customers didn't respond to SMS alerts
Wed, Feb 06, 2019
The Kerala High Court has said banks cannot be absolved of liability for unauthorised withdrawals from their customers' accounts. Justice P B Suresh Kumar also made it clear that banks are liable for unauthorised withdrawals even if customers did not respond to SMS alerts.
Bad news for Modi government? Deloitte says Indian bank frauds up, will continue rising
Mon, Nov 26, 2018
According to the report, the root cause responsible for increase in bank fraud incidents "appears to not having been adequately addressed".
What is Phishing? Beware, Your Money Is In Danger!
Thu, Oct 18, 2018
If you have debit cards, credit cards or do net banking, then know, you are in danger of losing your money.
What happens to your money when banks lose to frauds: Key safeguards for freedom from woes
Wed, Aug 15, 2018
On the consumer banking side according to a May 2018 study by payment company FIS, conducted across multiple countries, 18% Indian consumers became victims to banking frauds.
Rotomac scam: CBI court refuses regular bail to Vikram Kothari, son in loan default case
Thu, Mar 15, 2018
Rotomac scam: The CBI had arrested Vikram Kothari and his son Rahul Kothari in Delhi on February 23 and since then the accused have been in jail. They were then brought to Lucknow on transit remand after their arrest. The CBI court, on the application of premier agency, had on February 24 allowed their police remand for the purpose of interrogation in its custody.
Black money: 5 power points that reveal wrongdoing to banks
Tue, Mar 13, 2018
The cases of reported suspicious financial transactions, as per India's Finance Ministry, have grown by an alarming rate in the last three years. The cases in fact went up from as less as 45,858 in the year 2014-15 to 61,361 in 2015-16 and 361,000 in 2016-17.
PNB fraud: Nirav Modi, Mehul Choksi put jewellery sector's growth at stake
Wed, Feb 28, 2018
The developments related to the ONB fraud case has hit the jewellery sector in India, where Gems and Jewellery retail market is estimated to be at Rs 3,90,000 crore, out of which 30% are formal retailers.
PNB fraud: To catch a thief, Centre has these 12 tough steps; in brief, read all about it
Tue, Feb 27, 2018
RBI data suggests that between 2013 and 2017, a total of 17,504 cases of frauds were reported by public and private banks. Of these, about 2,084 had insider involvement.