Bank Fraud News

Money

ICICI Bank branch manager withdrew money from deposits for years to meet business targets: Report

The matter turned worse when someone got a whiff of it and started blackmailing the officials. Hence, this withdrawal of money from the accounts continued and the money was used to pay the Udaipur-based individual as hush money so that the whole act can be kept under wraps, said the report.

1 min read14 Feb 2024
Videos

RBI Tells Banks To Stop Relying On OTPs For Authentication Amid Rising Scams & Frauds

During his latest monetary policy address, RBI governor Shaktikanta Das said that the regulator wants banks and fintechs to come up with authentication mechanisms other than SMS-linked OTPs. This in view of the rising number of cyber scams and OTP-linked frauds. But what are some of the other ways in which authentication can be done? Watch

13 Feb 2024
Money

Value of frauds in banking transactions spiked 10 times in 10 years, shows RBI data

Total fraud cases amounted to ₹45,598 core in 2021-22, shows the RBI data on trends and progress of banking in India. It is incumbent upon you to inform the bank immediately so as to get the refund

2 min read28 Dec 2023
Industry

Banking-related scams surged over 2X in H1FY23 from last year: RBI Report

The RBI report highlighted the risks of fraud within the banking sector, including reputation and operational risks. Despite the surge in cases, the total number of reported frauds by banks declined to a six-year low.

1 min read28 Dec 2023
News

Kashmiri man arrested for impersonating PMO official, army doctor and marrying 6-7 women

Kashmiri man arrested for impersonating PMO official and Army doctor, cheating people and marrying multiple women in several states

1 min read17 Dec 2023
Money

6 ways to protect yourself from cyber fraud threats

The digital age has made financial transactions convenient but has also led to a significant increase in cyber fraud, with domestic payments fraud in India rising from ₹542.7 crore in FY 2021 to about ₹2537.35 crore in FY 2023.

2 min read24 Oct 2023
Money

Mobile banking fraud: 4 things to do to keep your account secure

Bank fraud: Strangers linked to customers' mobile numbers in multiple states

2 min read13 Oct 2023
Videos

Your Bank Doesn't Want You To Know This UGLY TRUTH! | Mint Explains | Mint

The Indian banking sector is facing a crisis, with 13 banks shutting down in recent years. This has raised concerns about the safety of your money. In this video, we will answer: Why Are Banks Suddenly Failing?, Why are banks failing?, U.S. Banks Keep Failing, Why Do Indian Banks Keep Failing?, Why are Indian Banks Failing?, The Secret Money Saving Rule, how to save money in banks, DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION, DICGC Insurance Coverage on Bank Account & Bank Deposit 5 Lakhs, What Is DICGC, Deposit Insurance and Credit Guarantee Corporation, Bank Security, Banking. Your money is insured up to ₹5 lakhs per depositor per bank, thanks to the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, it's important to be aware of the types of deposits covered by DICGC and to diversify your deposits across multiple banks to reduce risks. So, choose your bank wisely and stay vigilant! Subscribe to Mint for more informative videos on personal finance and economics!

4 Sep 2023
News

Pune cooperative bank ex-chairman arrested in money laundering case

The ED has arrested the former chairman of Pune cooperative bank in a money laundering case

2 min read5 Jul 2023
Money

Zerodha CEO Nithin Kamath cautions about online frauds in India in the name of FedEx, Blue Dart, other courier companies

Zerodha CEO Nithin Kamath warns about new online frauds in India where fraudsters use the brand value of courier companies like FedEx, Blue Dart to scam victims

2 min read24 Jun 2023
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