Fraud News
India 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 2025₹450 crore TBVFL loan scam: 5 financial red flags borrowers must watch
The alleged ₹450 crore TBVFL loan scam highlights major financial red flags in bank loan fraud, underlining the need for borrowers to verify lenders, monitor disbursals, and safeguard their credit identity.
3 min read14 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 2025Sebi bans Jane Street! What measures regulator may take to avoid repetition of Jane Street-like fraud
SEBI has temporarily barred Jane Street from the Indian stock market and impounded ₹4,840 crore for alleged index manipulation, raising concerns about retail traders' vulnerabilities in derivatives trading. Here's what SEBI may do to avoid such frauds in future.
3 min read5 Jul 2025ED arrests Delhi man in ₹900-crore Chinese investment app fraud case
A Delhi man has been arrested in a money laundering case linked to a ₹900-crore investment fraud involving Chinese individuals. The ED investigation revealed that the accused converted ‘tainted funds’ into foreign currencies and channeled them through illegal networks.
1 min read4 Jul 2025Standard Chartered faces $2.7 billion legal action over fraud allegations from Malaysia's 1MDB fund
Liquidators of 1MDB (1Malaysia Development Berhad), a sovereign wealth fund, have filed a lawsuit against Standard Chartered Bank, alleging that the bank enabled fraud which led to more than $2.7 billion in financial losses over 10 years ago.
2 min read1 Jul 2025Credit card fraud in India: Key legal provisions and punishments explained
Credit card fraud in India attracts strict legal action under IPC, IT Act, and Companies Act, with penalties ranging from fines to 10 years' imprisonment for serious financial crimes.
3 min read17 Jun 2025Unbelievable! For free flights, man pretended to be flight attendant, flew across US over 120 times
Tiron Alexander, a 35-year-old man, was found guilty of fraud for impersonating a flight attendant, securing over 120 free flights across major airlines. He faces a maximum of 20 years in prison for wire fraud and 10 years for unauthorized airport access.
1 min read13 Jun 2025₹4.58 crore gone! Bank employee steals money from FD accounts of 41 customers, loses it all in stock market investments
Sakshi Gupta, according to investigators, accessed more than 110 accounts of 41 customers between 2020 and 2023 by misusing the ‘User FD (Fixed Deposit)’ and conducted a series of illegal transactions.
2 min read6 Jun 2025Vijay Mallya's BIG claim on Kingfisher crisis: ‘Reached out to then FM Pranab Mukherjee, was told…'
In a podcast interview, Vijay Mallya attributed the downfall of Kingfisher Airlines to the 2008 financial crisis, which he claimed impacted all sectors. He also mentioned his efforts to seek assistance from Pranab Mukherjee to reduce operations due to financial constraints.
2 min read6 Jun 2025Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared