BANK FRAUD COMPLAINT PROCESS
CBI books Kishore Biyani and FRL in ₹904 crore SBI fraud case
The CBI has registered a case against Future Retail Ltd and its promoters. This is due to the alleged defrauding of State Bank of India amounting to ₹904.32 crore. The FIR was filed following a complaint from SBI on October 9, and a forensic audit was conducted. Multiple premises linked to the promoters were searched, leading to the seizure of documents.
Rs. 400 crore of ‘cash’ that existed only on paper: Not for the first time, nor will it be the last
When something is wrong inside a company, the people running it know first. The auditors may sense it next. A regulator might confirm it years later, in an order the public finally gets to read. The ordinary shareholder sits at the very end of that queue, usually learning the truth only after the share price has already delivered its verdict. The value of reading the accounts closely is simple: It is the one way to move a little higher up that queue, while there is still time to act.
CBI books Kishore Biyani, Future Retail in Rs 904-crore bank fraud case
The Central Bureau of Investigation has initiated a case against Kishore Biyani along with Future Retail Ltd. This case pertains to an alleged bank fraud involving a total of Rs 904.32 crore. The complaint was filed by the State Bank of India's Stressed Assets Management Branch-III in Mumbai. Allegations include criminal conspiracy along with cheating against the accused parties.
Woman went to operate bank locker, found it surrendered, Rs 47 lakh jewellery missing; sought Rs 48 lakh compensation, gets big relief in consumer commission
A Delhi woman found that her bank locker, which contained jewellery worth Rs 47 lakh, had been surrendered. The bank continued to charge her annual rent even after the locker was surrendered without notification. After approaching the Consumer Commission, the bank was found liable for the loss and faulty handling of the locker. Know what the Commission ordered in the case.
Bank account frozen suddenly? Check why it happened, how to unfreeze it and recover your money
For individuals affected by the freezing of their bank accounts due to untraceable money sources, remedy is available via the Grievance Redressal Mechanism (GRM) and the Money Restoration Module (MRM). Users can contest any debit freezes by filing official complaints through GRM. Meanwhile, MRM aids in reclaiming disputed funds after thorough verification.
Bengaluru woman calls customer care to seek Rs 441 refund for ill-fitting clothes, loses Rs 1.05 lakh
A Bengaluru woman lost Rs 1.05 lakh while trying to get a Rs 441 refund for ill-fitting clothes after contacting a fake customer care number found online. In a separate incident, another woman lost Rs 98,000 while seeking a replacement for a damaged curd packet ordered through Blinkit.
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SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
Lost money to a UPI scam? The first 3 days could decide how much you can recover
In the blink of an eye, UPI scams can wipe out your bank savings, but there's hope for victims. The Reserve Bank of India stands ready to safeguard you against unauthorized transactions. Discover essential actions to take the moment fraud strikes, understand how liability is assessed, and find out what steps to take if your bank turns down your claim.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
Israel election results 2026: Herzog accepts Israel poll results, Netanyahu faces coalition test
Israeli President Isaac Herzog has accepted the certified election results and will start consultations with party representatives. Neither Prime Minister Benjamin Netanyahu nor opposition leader Gadi Eisenkot achieved a parliamentary majority in the recent vote, requiring negotiations. Smaller parties are being approached for potential alliances to form a government.
CBI files FIR in $10 mn 'fraud' in Exim Bank involving UK-based company
The Central Bureau of Investigation has registered a case involving a USD 10 million fraud. This fraud is related to India Exim Bank and a UK-based company named Hanjer Biotech. Officials allege that the company diverted funds after requesting a loan for a recycling project. The loan was approved in 2012 but classified as a non-performing asset in 2014. The entire amount was reportedly siphoned off, leading to the investigation.
PNB staffer, Pune man arrested in alleged Rs 10.24 crore bank fraud case
An office assistant of Punjab National Bank in Greater Noida and a private individual have been arrested for alleged fraud. The fraudulent activity involved Rs 10.24 crore in unauthorized withdrawals from multiple customer accounts. Punjab National Bank's investigation began after a customer reported suspicious debit transactions in her account. The accused allegedly carried out the transactions over three years using compromised banking credentials.
Six arrested for financial fraud using mule accounts, suspected Pakistan Intelligence links
Preliminary investigation revealed that an SBI bank account belonging to FIR-named accused Marjina Begum of Ganesh Nagar, PS-Chandmari, Guwahati, had received credits amounting to lakhs of rupees within just 47 days, between 22 June and 5 August 2026. It was further observed that the amounts credited to the account were withdrawn almost immediately after each deposit, indicating a suspicious pattern of financial transactions.
Spandana Sphoorty reports Rs 7.8 crore cyber fraud in bank account
Spandana Sphoorty reported cyber fraud that led to unauthorized transactions of Rs 7.8 crore. The fraud was discovered on Sunday, prompting immediate action from the microfinance company. A senior official stated that the company has insurance that covers the losses incurred due to the fraud. Services associated with the fraud were halted, and investigations are currently underway. The company has requested its bank to reverse the transactions and investigate further.
Government giving Rs 8,000 as diwali bonus? PIB responds to viral claim
The Press Information Bureau issued a warning about fraudulent WhatsApp messages claiming an Rs 8,000 Diwali bonus. These messages ask recipients to click on links to access a fake payment website. The messages aim to collect personal information and trick users into unauthorized transactions. Citizens are advised to verify such claims through official government websites and not to respond to suspicious messages.
Spandana Sphoorty Financial reports cyberattack involving its bank account
Spandana Sphoorty Financial encountered a cyber fraud incident with unauthorized transactions on November 1. The amount involved was approximately 78 million rupees, which was transferred to multiple beneficiary accounts. Upon detection, the company promptly stopped affected services and notified its bank. A request for reversal and account freezing was also made to the bank. Additionally, Spandana registered a complaint with the National Cyber Crime Reporting Portal.
ED opens money laundering probe against Subhash Chandra in Rs 1,322 crore loan case
The Enforcement Directorate has registered an ECIR against Essel Group chairman Subhash Chandra in an alleged Rs 1,322 crore loan fraud involving LIC Housing Finance. The move follows a CBI FIR over two loan facilities worth Rs 980 crore sanctioned to Essel Group-linked companies in 2018. Zee Entertainment said the case does not affect its operations.
Banks report 10-50% gains in productivity, turnaround time and costs from AI-led initiatives
Several banks in India have implemented artificial intelligence initiatives that have increased productivity and efficiency significantly. Notably, Kotak Mahindra Bank has improved its handling of corporate servicing volumes by 20-30% with the same workforce. Axis Bank's AI solutions are enhancing customer experience and improving operational efficiency across its operations. HDFC Bank has reported a reduction in service delivery turnaround times by 30%, reflecting the impact of digitization.
Zee draws line between CBI probe against Subhash Chandra and its business
Zee Entertainment Enterprises has clarified that an Enforcement Case Information Report (ECIR) registered against founder Subhash Chandra in his personal capacity has no bearing on the company or its operations. The development follows an ongoing CBI investigation into an earlier FIR filed by LIC Housing Finance against the promoter entities.
Man joins WhatsApp group, downloads trading app & loses Rs 1.29 crore; fraudsters demand another Rs 20 lakh to release his money
A 70-year-old man from Bhiwandi, Thane, allegedly lost Rs 1.29 crore after cyber fraudsters lured him into investing through a fake online trading app promoted via a WhatsApp group. Police have registered a case against the accused, but no arrests have been made so far.
Rs 36.4 lakh fraud in Post Office through NSC and term deposit: India Post employees convicted; Madhya Pradesh HC grants relief to depositors
Employees at the Bina branch of India Post defrauded depositors out of Rs 36.4 lakh through forged documents. The Madhya Pradesh High Court has ordered the postal department to refund the victims with applicable interest. This decision follows a case where the victims were misled by unauthorized employees posing as authorized staff. The High Court's ruling emphasizes the trust placed in the postal employees by the victims.
Rs 210-crore bank fraud case: CBI books Chandra Proteco and its directors
The CBI has registered an FIR against Chandra Proteco Limited and its directors over an alleged bank fraud of Rs 210.13 crore involving five banks. The case follows a complaint by Indian Bank, which alleged that the company obtained loans and letters of credit worth Rs 541.46 crore from a consortium of six banks and diverted funds through associate companies. The agency also conducted searches at premises linked to the directors in Prayagraj.
US voters facing intimidation have official reporting channels during US midterm elections; how to contact the Justice Department and election officials
Voters should be aware of the proper channels for reporting election-related violations, including intimidation and fraud. They can reach the US Department of Justice for assistance with civil rights violations. Local and state election offices are responsible for handling reports of voter fraud and intimidation. Understanding the types of election crimes can aid in identifying proper reporting methods.
PNB suspends 12 employees, files CBI case over alleged bank fraud involving ₹10 crore
Punjab National Bank has taken action by suspending twelve staff members linked to unauthorized fund transfers utilizing the branch manager's password. Evidence points to a female employee collaborating with external parties in these transactions. Current estimates of the losses indicate they are below Rs 10 crore, contradicting widespread claims online.
AI-powered cyberattacks siphon ₹300 crore from small NBFCs in two months
Recent cyberattacks have inflicted an estimated loss of ₹300 crore on Indian NBFC, with around 150 fraud cases reported. Focus has shifted towards identifying Chinese hacking platforms and AI toolkit involvement in these incidents. Exploiting operational weaknesses, these cybercriminals persistently launch their attacks, leading to urgent calls for NBFCs to bolster their cybersecurity frameworks to fend off further threats and safeguard their operations.
Noida farmers' Rs 35 crore vanished from PNB village branch: How customers' savings disappeared without OTPs, withdrawal forms or message alerts
At least 16 account holders, mostly farmers, have accused employees of Punjab National Bank’s Aichhar village branch in Greater Noida of allegedly diverting fixed deposits worth an estimated Rs 35 crore. The bank has suspended five staffers, including the branch manager, and launched an internal probe. Police have registered an FIR and begun an investigation, while customers have protested outside the branch demanding the return of their money.
Punjab National Bank customers in Greater Noida allege Rs 35 crore fraud, several employees suspended
Police said the bank management had suspended several employees, including the branch manager, and a case was registered at the Beta-2 police station, which has jurisdiction over the branch. The bank has assured authorities that it will address the customers’ complaints, officials said.
Rs 98,000 curd: Bengaluru woman orders curd on blinkit, receives damaged packet, calls customer care number found online and loses Rs 98,000
A 56-year-old Bengaluru woman allegedly lost Rs 98,000 after ordering curd on Blinkit and finding the packet damaged. Her search for a customer care number led her to fraudsters posing as support representatives, who sent a WhatsApp link and guided her through a process that ended with money debited from her bank account.
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