The system, developed by the National Payments Corporation of India (NPCI), mandates a customer issuing the high-value cheque to reconfirm some essential details which are cross-checked while presenting the cheque in clearing before payment.
The Central Bureau of Investigation (CBI) recently booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by ICICI Bank.
So far, 170 police complaints have been filed and the police are in the process of ascertaining the extent of loss to the depositors.
The CBI raided 9 places including Mumbai, Nagpur, Chhattisgarh, and recovered all the evidence and documents from the house office of the accused persons.
The State Bank of India has warned customers of instances where fraudsters have duped people with KYC verification.
The State Bank of India recently warned the customers regarding bogus apps that could lead to massive losses if installed without due verification.
Investigation has also proved, says the ED, that these three accused persons used dummy entities controlled by them for rotation and siphoning off the funds provided by the banks.
The Royal Police Force of Antigua and Barbuda has started investigations into the alleged abduction of absconding diamantaire Mehul Choksi to neighbouring Dominica.
The Qatar Airways' private jet that was sent by India to bring back fugitive diamantaire Mehul Choksi from Dominica has left the Caribbean island country after nearly seven days, according to public flight data.
The Delhi Police's Cyber Crime Branch on Tuesday said that it is working to get blocked the fake login page of ICICI Bank which was trying to get details of the customers, and also warned people not to share information without verification.
Antigua and Barbuda Prime Minister Gaston Browne has confirmed that a private jet from India has arrived at the Douglas-Charles Airport in Dominica.
SBI Bank Alert: The State Bank of India (SB), India's largest lender, has cautioned against fraudulent calls requesting KYC Verification. The State Bank has advised its customers to refrain from sharing any sensitive details online or offline.
The top scamsters are from Patna, Chandigarh, Kolkata and Meerut for one of the top payment apps (at 15 per cent) and most QR Code scams originate from Assam, accounting for 20 per cent of the total distribution.
Following this, India's largest lender State Bank of India (SBI) has warned its customers about QR code scans fraud. As Online transactions have become a necessity in pandemic times, one must be extremely vigilant and cautious while carrying it out.
The caller posed himself as a Bank executive and asked her father to share their bank account details, including the one-time password (OTP) that she received on her mobile phone. But, as soon as the complaints realized something fishy, the net banking password was changed.
The Central Bureau of Investigation (CBI) on Thursday conducted searches at more than 100 places across India in connection with more than 30 cases of bank fraud amounting to over Rs.3700 crore.
The state police's crime branch has started an investigation into the cyber fraud case in which over Rs 77 lakh went missing from the bank accounts of the doctor
The accused had opened, at least, 10 fake accounts in various banks including the Axis Bank, ICICI, IDBI, and IndusInd bank and applied for loans in HDFC Bank and Bajaj Finance.
The Central Bureau of Investigation (CBI) on Saturday booked Hyderabad-based Coastal Projects Ltd and its directors in connection with over Rs 4,736 crore bank fraud in a consortium of banks led by the State Bank of India (SBI).
The CBI has booked Kewal Krishan Kumar, MD of the company, and other directors Siddhrath Kumar and Sunanda Kumar, on a complaint lodged by the SBI, officials said.
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