Banking Frauds
RBI governor Malhotra urges banks to collaborate to curb rising digital frauds
Governor Sanjay Malhotra has called for shared analytics and AI tools to detect mule accounts, as the central bank pushes for near real-time supervision and lighter penalties.
2 min read9 Jan 2026₹52,976,00,00,000 lost to cyber frauds in India in 6 years, says report – shocking numbers explained
A staggering ₹52,976 crore has been lost to cyber frauds in India over the past six years. The Indian Cyber Crime Coordination Centre reports a surge in financial crimes, with investment traps and online scams leading the way. Discover the alarming trends and state-by-state breakdown of losses.
2 min read3 Jan 2026India Inc steps up defences as sophisticated corporate frauds surge
White-collar crimes are surging across corporate India, from spoofed CEO emails to KYC scams. As fraud gets smarter, companies are lawyering up, tightening controls, and turning to AI to stay one step ahead.
4 min read15 Jul 2025ATM Fraud: SBI to give customer ‘full refund’ and 10% interest after Delhi consumer forum order
State Bank of India has been ordered to pay a ‘full refund’ and 10% interest per annum to one of its customers in an 11-year-long consumer forum case. The customer will also receive the dues along with the penalties and legal charges.
2 min read9 Jul 2025Banking on trust, losing billions: India’s bank fraud epidemic needs urgent answers
The total value of bank frauds tripled last year even as the number of cases fell—signalling bigger, bolder scams. The problem runs deeper than regulation: it’s about broken governance, eroding public trust, and the urgent need for tech-enabled vigilance.
3 min read3 Jun 2025‘Digital payment frauds not alarming’
The finance ministry, the RBI and the National Payments Corporation of India have rolled out several crucial measures to secure digital financial transactions and to combat fraud.
2 min read2 Jun 2025Can banks outsmart AI-driven fraud before it’s too late?
The fight against financial fraud is escalating as criminals use deepfakes, synthetic identities, and fake records to bypass security. With soaring losses, banks must rethink fraud detection strategies fast.
3 min read5 Mar 2025ICICI 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 2024Value 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 2023Banking-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