Loan frauds as a percentage of total banking frauds jumped to 90% in fiscal 2019 from 55% in fiscal 2018 after regulatory standards were changed for banks reporting non-performing assets (NPAs). Loan frauds increased year-over-year to Rs 64,548 crore in…
Loan Frauds surge in FY19
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How to report a Net Banking, Debit or Credit Card Fraud?
With the increase in the digital way of life, especially when it comes to financial transactions, the risk of financial frauds cannot be ignored. A fraudulent online transaction in one’s bank account, debit or credit card could be because of…
Beware of Lottery Fraud
In the recent past, there has been a spate of fictitious offers sent out to the general public. People have received phone calls, emails, SMS’s, whatsapp messages, and letters etc. telling them that they have won a lottery. They are…
Business Fraud
Business fraud consists of dishonest and illegal activities perpetrated by individuals or companies in order to provide an advantageous financial outcome to those persons or establishments. Also known as corporate fraud, these schemes often appear under the guise of legitimate…
Identity Theft/Fraud
Identity theft, also known as identity fraud, is a crime in which an imposter obtains key pieces of personally identifiable information, such as Social Security or driver’s license numbers, in order to impersonate someone else. Identity theft occurs when someone…
Cheque Frauds in India
Cheque Fraud refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder’s legal ownership. As per the…
Credit Card Fraud
Credit Card Fraud is a harsh reality of digital age. If you are the owner of a credit or a debit card, there is a non-negligible chance that you may be subject to fraud, like millions of other people around…
Internet Scams
Fraud that is committed using the internet is “Internet Scam.” Internet Scam can involve financial fraud and identity theft. Internet Scam comes in many forms. It ranges from viruses that attack computers with the goal of retrieving personal information, to…
How to prevent Fraud?
Scams can be clever, but not clever enough; if you know how they work and how to avoid them here few are few ways to prevent fraud. Know who you’re dealing with In any transaction you conduct, make sure to…
Anti-Fraud
Fraud – Meaning Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the application or threat of violence or of physical force. Fraud is perpetrated by parties and organizations to obtain money,…