How fraudsters siphoned off ₹12 crore from AIIMS' SBI accounts
5 years, 1 month ago

How fraudsters siphoned off ₹12 crore from AIIMS' SBI accounts

India TV News  

All India Institute of Medical Sciences -- India's premier medical institute -- has fallen prey to banking fraud accounting for a whooping ₹12 crore. As per reports, ₹12 crore have been stolen from two separate SBI accounts belonging to the hospital by allegedly using 'cloned cheques' over the past one month. What is even more shocking is that even after the fraud came to light and the agencies were alerted, an attempt was made to withdraw over ₹29 crore by using similar cloned cheques from SBI's non-home branches located in Dehradun and Mumbai. Modus Operandi Fraud cheque leaves presented at SBI's branches passed UV ray tests, and in mostof the cases, the original cheque leaves with same series were still in the possession of the institute, the AIIMS said in a report to the health ministry, as per an official. He also added that SBI failed to follow verification protocol while clearing cheques at non-home branches and asked the bank to deposit the stolen amount.

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History of this topic

'Bank Should Remain Vigilant' : Supreme Court Holds SBI Liable To Refund Amount To Customer Who Reported Fraudulent Transaction
2 days, 20 hours ago

'Bank Should Remain Vigilant' : Supreme Court Holds SBI Liable To Refund Amount To Customer Who Reported Fraudulent Transaction

Live Law  

The Supreme Court recently observed that banks cannot shy away from the responsibility to safeguard their customers from unauthorized transactions reported from their accounts. The Court upheld the State Bank of India's liability for the fraudulent and unauthorized transactions reported in the customer's bank account. The bench was hearing the SLP filed by the SBI against the Gauhati High Court's …

Axis Bank manager, 3 others arrested for siphoning Rs 12 crore from Bengaluru firm
Trending News
1 week, 3 days ago

Axis Bank manager, 3 others arrested for siphoning Rs 12 crore from Bengaluru firm

India Today  

Four people, including the manager of a private bank, were arrested for allegedly siphoning off Rs 12.51 crore by stealing sensitive data from a company, police said on Saturday. The matter came to light after the director of Dream Plug Pay Tech Solutions Private Limited approached the police in November, alleging the siphoning of Rs 12.51 crore from the company’s …

Software engineer in Bengaluru loses Rs 11.8 crore to 'digital arrest' scam
2 weeks, 1 day ago

Software engineer in Bengaluru loses Rs 11.8 crore to 'digital arrest' scam

Deccan Chronicle  

Bengaluru: A 39-year-old software engineer became a victim of a "digital arrest" scam and lost Rs 11.8 crore when fraudsters impersonating police officials claimed that his Aadhaar card was being misused to open bank accounts for money laundering, police said on Monday. Later, he got a call from a person claiming to be a police officer alleging that his Aadhaar …

Hyderabad: SBI Averts Digital Arrest, Saves Rs 46 Lakh of Customer
1 month, 2 weeks ago

Hyderabad: SBI Averts Digital Arrest, Saves Rs 46 Lakh of Customer

Deccan Chronicle  

Hyderabad: The staff of the State Bank of India, Chandrayangutta branch, rescued a senior citizen from the new fraud called ‘digital arrest’ and stopped him from transferring Rs 46 lakh to scamsters on Friday, a bank official said. The victim, a retired PSU employee, visited the branch with his wife and presented a cheque at the counter to transfer Rs …

Rs 111 crore, 623 bank A/Cs, 25 arrests: The cyber-fraud that stunned Surat police
1 month, 3 weeks ago

Rs 111 crore, 623 bank A/Cs, 25 arrests: The cyber-fraud that stunned Surat police

India Today  

The Surat police have busted a major gang laundering money extorted from victims of ‘digital arrest’ around the country and even overseas. The police detected that lakhs of money parted with by cyber-fraud victims were first landing in a ‘mule account’, functional on ‘rooted devices’ operated from outside India. From Mota Varachha and Sarthana areas of Surat, the police recovered …

Fraudulent transactions at IndusInd bank: ₹32.89 crore of ₹40 crore recovered
5 months, 1 week ago

Fraudulent transactions at IndusInd bank: ₹32.89 crore of ₹40 crore recovered

Hindustan Times  

MUMBAI: Maharashtra Cyber on Friday said that they could recover ₹32.89 crore out of the ₹40 crore allegedly fraudulently transferred from IndusInd Bank to 20 different mule accounts. The frauds managed to withdraw ₹ 4.24 crore from various ATMs, Representative Image After the Bandra Kurla Complex branch of the IndusInd bank got wind of the fraudulent transactions, it alerted the …

180 bank accounts under scanner, staff arrested
6 months ago

180 bank accounts under scanner, staff arrested

Hindustan Times  

At least 180 bank accounts, most of them corporate, are under scrutiny following the arrest of Rahul Kumar, a deputy manager at the State Bank of India, for his alleged involvement in a cyber fraud scheme, police said on Monday. Police reported that ₹ 3.32 crore was transacted from this account between May and June, with the funds originating from …

₹23 lakh cash looted from SBI ATM in Bihar’s Gopalganj: Police
11 months, 1 week ago

₹23 lakh cash looted from SBI ATM in Bihar’s Gopalganj: Police

Hindustan Times  

Bettiah: As much as Rs.23 lakh cash was stolen from an ATM in Bihar’s Gopalganj district on Thursday early morning, police said. ATM According to the police, the accused persons broke open a State Bank of India ATM in Gopalganj’s Nauraniya area around 4.30am. The accused broke open the ATM using a gas cutter and walked away with Rs.23.51 lakh, …

Online financial fraud value ballooned between 2002-2023: Govt tells Parl panel
1 year, 2 months ago

Online financial fraud value ballooned between 2002-2023: Govt tells Parl panel

Hindustan Times  

The value of online financial frauds ballooned from ₹2296 crore in 2022 to ₹5574 crore in 2023, the Union home ministry has informed the Parliamentary Standing Committee on Communications and Information Technology. IT secretary S Krishnan, National Informatics Centre deputy director general Deepak Goel and officials from Reserve Bank of India, National Payments Corporation of India, Punjab National Bank, and …

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR
1 year, 3 months ago

₹16,180 crore siphoned off after hacking of payment gateway company account; Thane police register FIR

The Hindu  

A group of persons allegedly hacked into a payment gateway service provider company’s account and siphoned off funds worth over ₹16,180 crore from different bank accounts over a period of time, the Thane police said. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra’s Thane city of hacking …

Police register FIR after Rs 16,180 crore hacked from payment gateway company account
1 year, 3 months ago

Police register FIR after Rs 16,180 crore hacked from payment gateway company account

India TV News  

At least Rs 16,180 crore was taken from different bank accounts over a period of time after a group of persons allegedly hacked into a payment gateway service provider company's account, Thane Police said on Sunday. The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra's Thane city of …

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium
1 year, 7 months ago

CBI books Raigad-based firm for ₹1,017.93-crore loss to bank consortium

Hindustan Times  

Mumbai: The Central Bureau of Investigation recently registered a case against a Raigad-based steel processing firm and its directors for allegedly causing a loss of ₹1,017.93 crore to a State Bank of India -led bank consortium in the form of unpaid loans. The SBI, which is the complainant in the case, alleged that the firm had siphoned off a portion …

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot
1 year, 8 months ago

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot

Hindustan Times  

Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision in connection with an alleged fraud case wherein coins worth ₹11 crore had gone missing from the vaults of a State Bank of India branch in Rajasthan’s Karauli. Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision …

Two cyber frauds held from Bihar, Rs1.01 crore cash seized
1 year, 11 months ago

Two cyber frauds held from Bihar, Rs1.01 crore cash seized

Hindustan Times  

The crime branch of Delhi Police on Tuesday said it has arrested two fraudsters from Nalanda district in Bihar for allegedly impersonating an executive of a cement company and duping a south Delhi-based trader of ₹57.50 lakh in the name of supplying cement bags in bulk at heavily discounted rates. Two cyber frauds held from Bihar, Rs1.01 crore cash seized …

ED attaches property worth Rs 3.67 cr in fraud case involving AIIMS employee
2 years, 4 months ago

ED attaches property worth Rs 3.67 cr in fraud case involving AIIMS employee

India TV News  

Highlights ED attached two properties in Delhi and other assets worth Rs 3.68 crore on Sneh Rani Fake delivery challans, inspection notes, and received an amount of Rs 13.43 crore release to Sneh The proprietor of Sneh Enterprises, Sneh Rani transferred money from AIIMS to her bank acc The Enforcement Directorate on Tuesday said that they have attached two immovable …

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders
2 years, 4 months ago

Bank Frauds: Know India's 4 Biggest Financial Scams That Have Hit Lenders

News 18  

The Enforcement Directorate recently attached assets worth Rs 415 crore of Maharashtra’s two builders in relation to the Yes Bank-DHFL bank loan fraud-linked money laundering case. The DHFL scam is India’s biggest financial fraud involving Rs 34,000 crore, in which a total of 17 banks have been defrauded by this home loan provider. Here’re four biggest financial scams in India: …

ABG Shipyard duped SBI and 27 other banks of Rs 22,842 crore: Know all about India's biggest bank fraud
2 years, 10 months ago

ABG Shipyard duped SBI and 27 other banks of Rs 22,842 crore: Know all about India's biggest bank fraud

India TV News  

Highlights CBI books ABG in biggest bank fraud case Funds were used for purposes other than for which they were released by banks The company was sanctioned credit facilities from 28 banks and financial institutions India's biggest bank fraud case: The Central Bureau of Investigation is carrying out searches at several places linked to ABG Shipyard in Mumbai in connection …

AIIMS doctor swindled out of Rs 4 lakh by online fraudsters, Cyber Cell helps recover Rs 3.15 lakh
3 years, 6 months ago

AIIMS doctor swindled out of Rs 4 lakh by online fraudsters, Cyber Cell helps recover Rs 3.15 lakh

India Today  

A doctor at the All India Institute of Medical Sciences New Delhi was conned out of Rs 4.9 lakh after falling prey to cyber criminals. However, due to the doctor’s quick-thinking in reporting the crime and prompt action by the Delhi Police’s Cyber Crime Cell, Rs 3.15 lakh was recovered. DCP Cyber Crime Anyesh Roy said that the amount of …

Government launches national helpline for cyber fraud, here is how it works
3 years, 6 months ago

Government launches national helpline for cyber fraud, here is how it works

India Today  

The Union Home Ministry has operationalised the national helpline 155260 and reporting platform for preventing financial loss due to cyber fraud. The helpline which was soft-launched on April 2021 and has been made operational by the Indian Cyber Crime Coordination Centre, with active support and cooperation from the Reserve Bank of India, all major banks, payment banks, wallets and online …

State Bank Of India Issues Alert for Digital Transactions; Check Details Here
3 years, 8 months ago

State Bank Of India Issues Alert for Digital Transactions; Check Details Here

News 18  

Amid the rising cases of coronavirus and economic uncertainty, several are losing their jobs and facing a financial crisis. Acknowledging the threat State Bank of India has once again warned its 45 million customers against online fraud practices. This is one of the major reasons why the Reserve Bank of India along with several other banks keeps on issuing alerts …

Big bank fraud! Consortium of banks suffer loss of over Rs 4,837 crore, CBI probe underway
4 years ago

Big bank fraud! Consortium of banks suffer loss of over Rs 4,837 crore, CBI probe underway

India TV News  

The Central Bureau of Investigation has registered a case against a private company based at Hyderabad and others including its managing Director, Joint Managing Director, and unknown public servants/others on a complaint from State Bank of India, Hyderabad. It was alleged that the accused in connivance with unknown public servants and others defrauded the consortium of Public Sector Banks, consisting …

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks
4 years ago

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks

India TV News  

The Central Bureau of Investigation has today filed a chargesheet before Special Judge for CBI cases, Mumbai against 24 accused including a private company based at Mumbai, its director, Chartered Accountant, then officials of Indian Overseas Bank, Directors/proprietor of associated companies/firms etc for causing an alleged loss of Rs 297.80 crore to the bank. Out of these nationalized banks, Indian …

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases
4 years ago

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases

India TV News  

The State Bank of India and Punjab and Sind Bank have been allegedly cheated of over Rs 131 crores in two separate cases of fraud. The first case was registered on a complaint from SBI against a private company based in Gujarat's Ahmedabad and others including directors, public servants, and unknown others on the allegations of cheating the State Bank …

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills
4 years ago

Bank Fraud: ED Says Accused Who Defrauded IOB Paid Managers' Flight, Hotel Bills

News 18  

Probing a Rs 299-crore Indian Overseas Bank loan fraud case, similar to the alleged USD 2 billion worth PNB swindle, the Enforcement Directorate has found that the accused “paid” for the air travel and hotel stay of a senior bank manager and his family as kickbacks. The central probe agency said “lapses” were also detected on the part of at …

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms
4 years ago

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms

India TV News  

The Central Bureau of Investigation has registered two separate cases related to bank fraud to the tune of Rs. The first case has been registered against a Hyderabad-based private company and others including its CMD, Additional Directors, unknown public servants and others on a complaint from Canara Bank. It was also alleged that the accused misappropriated bank's funds and diverted …

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases
4 years ago

SBI, PNB, Bank of Baroda among banks cheated of Rs 525 crore; CBI registers 2 cases

India TV News  

In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. According to the complaints registered with the probe agency, a consortium of banks including the State Bank of India was duped of Rs 452.62 crores and Bank of Baroda of Rs 73 crores. The first case was registered on the complaint from …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 6 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

Are you SBI cardholder? Bank says follow these 10 safety tips to prevent ATM fraud
4 years, 7 months ago

Are you SBI cardholder? Bank says follow these 10 safety tips to prevent ATM fraud

India TV News  

State Bank of India, India's largest lender and several other banks have warned their account holders about of fraud cases like online banking fraud, cloning, phishing, UPI fraud and others along with banking tips. As a caution and safety measure for customers, SBI has also advised the account holders to change the ATM PIN at regular intervals, cover ATM/POS keypad …

SBI shares 10 ATM safety mantra to prevent debit card fraud
4 years, 7 months ago

SBI shares 10 ATM safety mantra to prevent debit card fraud

Live Mint  

Various banks, including country's top lender State Bank of India have been advising their customers on ways to bank safely. SBI recommends that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. Avoid writing it on your ATM card or anywhere else 4) Avoid using birthdays and anniversary dates as you PIN 5) …

22 people in Kolkata lose over ₹5 lakh to ATM fraud
5 years, 1 month ago

22 people in Kolkata lose over ₹5 lakh to ATM fraud

India TV News  

The Kolkata Police have received at least 22 complaints of people losing money from their bank accounts through fraudulent means over the past two-three days despite having their debit cards with themselves, an officer said on Monday. The complaints have mostly come from the Jadavpur area under the Southern suburban division of city police, Joint Commissioner Murlidhar Sharma said. As …

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI
5 years, 3 months ago

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI

Live Mint  

Indore: A total of 2,480 cases of fraud involving a huge sum of ₹31,898.63 crore rattled 18 public sector banks in the first quarter of this fiscal, an RTI query has revealed. Punjab National Bank stood third in the list with 99 sham cases worth ₹2,526.55 crore. A total of 75 cases of fraud involving ₹2,297.05 crore were reported in …

PNB Fraud: How India's 2nd Largest PSU Bank Lost Rs11,400 Crore
6 years, 10 months ago

PNB Fraud: How India's 2nd Largest PSU Bank Lost Rs11,400 Crore

Live Mint  

India's second-largest public sector lender, PNB, has been hit with a massive Rs11,400 crore fraud at its Mumbai branch. The bank discovered two junior employees issuing letters of undertaking (LoUs) to companies and people who had obtained credit without having the necessary credit limits or maintaining funds on margin. These LoUs were used to obtain short-term credit from overseas branches …

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