Tag: Bank fraud
17 Results
-
Covid and fraud
The report highlighted several areas of possible fraud that individuals and businesses need to be careful about ~ sales and distribution, covering artificial inflation of prices and sale of damaged, expired or counterfeit products; fake online sales; kickbacks to ensure procurement of products hit by lockdowns or import restrictions; cyber frauds due to increased remote working, and reduced focus on compliance that triggers contravention of laws.
August 6, 2020 -
PNB shares tank nearly 6% after lender reports yet another loan fraud
After tumbling to 6.73 per cent to Rs 34.60 on the BSE, lender’s shares were trading at Rs 35.05, down by 5.53 per cent at 1.45 pm.
July 10, 2020 -
‘Bank frauds have sharply come down on an annual basis’: Anurag Thakur
Thakur told that the declining trend in bank frauds is observed in respect of Public Sector Banks (PSBs) as well with the amount involved by year of occurrence of fraud reducing sharply.
February 4, 2020 -
CBI books Mumbai jeweller for duping banks of Rs 568 cr
Following a complaint lodged by a bank, the CBI has booked the three directors: Paresh Chhabildas Shah, Sahil Paresh Shah and Viraj Chetan Shah under various sections of the IPC and PCA.
December 12, 2019 -
Vijay Mallya extradition: The case so far
Vijay Mallya fled to London in March 2016. Almost a year later, India sent a request to the UK to extradite the "fugitive" liquor baron who owed nearly Rs 9,000 crore (including interest) to 17 Indian banks
December 10, 2018 -
Vijay Mallya extradition case edges towards ruling
On bail since April 2017, the former Kingfisher Airlines boss has contested his extradition on the grounds that the case against him is "politically motivated" and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat
December 9, 2018 -
Many ATMS still unmanned; Kolkatans unnerved
Several ATMs located in the city continue to remain unmanned despite the recent bank fraud that saw at least Rs 20 lakh worth of people’s savings being siphoned off using data obtained through illegal skimmer devices installed at such ATMS. The ATMs of banks such as UBI in Dalhousie and UCO Bank in Bowbazar continue …
Continue reading "Many ATMS still unmanned; Kolkatans unnerved"
August 10, 2018 -
Cop scanner on websites selling skimmer devices
This comes in the wake of the city police contending that they have enough clues to believe that the fraudsters had inserted skimming devices in ATM machines to clone debit cards and facilitate the fraudulent withdrawal of money.
August 3, 2018 -
Kolkata bank fraud: 37 customers allege fraudulent withdrawals
The official said the total amount involved in the fraud was more than Rs 9 lakh at a branch here but promised that the bank will refund the lost amounts of the affected customers within a week.
August 1, 2018 -
Nirav Modi faces fresh FIR for using multiple Indian passports
Modi has been traced to Belgium and it has been learnt that of the six passports he held, two were active for quite some time
June 17, 2018 -
Bank fraud: ED attaches assets worth Rs 1,122 crore of Vadodara-based DPIL
DPIL manufactures electric cables and equipment and is promoted by SN Bhatnagar and his sons Amit, Sumit
April 24, 2018 -
Gujarat firm’s promoters held in Rs 2654 crore bank fraud
The Central Bureau of Investigation (CBI) Wednesday arrested the promotor-founder, managing director and joint managing director of a Vadodara-based firm for allegedly defrauding a consortium of 11 banks, public as well as private, of Rs 2654.40 crore. The CBI identified the accused promoters and directors of this firm, Diamond Power Infrastructure Limited, as Suresh Narain …
Continue reading "Gujarat firm’s promoters held in Rs 2654 crore bank fraud"
April 19, 2018 -
CBI books Chennai jeweller in Rs 824 cr bank fraud
The CBI on Wednesday registered a case against Chennai-based jeweller Kanishk Gold Pvt Ltd (KGPL) for defrauding a consortium of 14 banks led by the State Bank of India (SBI) to the tune of Rs 824.15 crore in the form of loans now been declared a non-performing asset (NPA). The agency also conducted searches at …
Continue reading "CBI books Chennai jeweller in Rs 824 cr bank fraud"
March 21, 2018 -
Bank fraud: U’khand govt acts tough
After receiving a series of complaints against bogus banking companies for cheating consumers and disappearing with their hard earned money, the Uttarakhand government has decided to form a dedicated wing to handle such cases. Uttarakhand Chief Secretary Utpal Kumar Singh said that Economic Offences Wing would be formed and it will work under Special Task …
Continue reading "Bank fraud: U’khand govt acts tough"
March 8, 2018 -
Bank frauds scar economy, hurt ease of doing business, says Jaitley
Stressing that banks and auditors need to be more alert in detecting frauds, Union Finance Minister Arun Jaitley on Saturday said bank scams “push ease of doing business to background” while scarring the economy. Speaking at the Global Business Summit in the national capital, Jaitley said politicians alone should not be held accountable for scams …
Continue reading "Bank frauds scar economy, hurt ease of doing business, says Jaitley"
February 24, 2018 -
Increased private participation needed in banking: Arvind Subramanian
With the second largest Indian bank Punjab National Bank (PNB) hit by massive $1.8 billion fraud and other banks hit by frauds as well, Chief Economic Adviser to Indian government Arvind Subramanian on Saturday advocated more private participation in public sector banks. Inaugurating the Annual Convention of the Madras Management Association (MMA) under the theme …
Continue reading "Increased private participation needed in banking: Arvind Subramanian"
February 17, 2018 -
Want to come to India but passport suspended: Mallya to court
Liquor baron Vijay Mallya on Friday informed a Delhi court that he wants to come to India but is unable to travel back as his passport has been suspended by Indian authorities. Mallya made the submission through his counsel before Chief Metropolitan Magistrate Sumit Dass in a case lodged for allegedly evading summons in connection …
Continue reading "Want to come to India but passport suspended: Mallya to court"
September 9, 2016