Banking Sector Frauds
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US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
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Valuables Worth Rs 78 Lakh Seized In Bank Fraud Of More Than Rs 300 Crore
Valuables worth Rs 78 lakh were seized after the Enforcement Directorate conducted searches against some oil and gas sector companies as part of a money laundering probe linked to an alleged bank loan fraud of more than Rs 300 crore.
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4, Including Bank Manager, Arrested For Alleged Fraud In Gujarat: Police
A manager of a Vadodara-based public sector bank was arrested on Monday along with three others for allegedly withdrawing Rs 1.75 crore from a fixed deposit and transferring the money to two other accounts using forged documents, the police said.
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7 Arrested For Allegedly Trying To Fraud Bank Of Rs 50 Crore In Mumbai
Seven people were arrested for allegedly trying to defraud a leading private sector bank of Rs 50 crore by attempting to pass off fake fixed deposit slips as original, the police said today.
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CBI Conducting Searches In Connection With 35 Bank Fraud Cases: Report
The Central Bureau of Investigation (CBI) is conducting searches in 169 locations across the country in connection with 35 bank fraud cases, which were registered by it and involve funds of over Rs 7,000 crore, officials said today.
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Mehul Choksi Cheated Punjab And Sind Bank Of Rs 44 Crore: Report
Diamantaire Mehul Chinubhai Choksi cheated Punjab & Sind Bank (PSB) of Rs 441 million, the public sector bank revealed on Saturday.
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In Alleged E-Mail Fraud, Crores Sent To Fake Account By Government Firm
The CBI has registered a case against top officials of a public sector helicopter service company on the basis of a Central Vigilance Commission (CVC) complaint that they had transferred Rs 1.85 crore to a fake bank account in Indonesia instead of a Russian firm contracted for servicing chopper engines in 2016. The objective of the probe is to chec...
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Suspended MD Of PMC Bank Arrested In Alleged Rs 6,500 Crore Fraud
Joy Thomas, the suspended managing director of crisis-hit Punjab and Maharashtra (PMC) Bank, has been arrested in an alleged Rs 6,500 crore fraud case, sources in the Economic Offence Wing in Mumbai said.
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Report On Top 100 Bank Frauds Shared With CBI, Others, Says Watchdog
The anti-corruption body Central Vigilance Commission has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate and the CBI, Vigilance Commissioner TM Bhasin said today.
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Arun Jaitley's Advice To Banks To Sustain 8 Per Cent Growth
Finance Minister Arun Jaitley today asked public sector banks to take "effective action" in cases of fraud and wilful loan defaults.
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Money Extremely Safe In Public Sector Banks, Says Piyush Goyal
Public money is "extremely safe" in state-owned banks, Finance Minister Piyush Goyal said today against the backdrop of several cases of frauds, including the $2 billion scam at Punjab National Bank, unearthed recently.
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RBI Chief Questioned By MPs On Supervision Fail In Nirav Modi Scandal
Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).
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CBI Names BSE Chairman Among Others In 600 Crore Loan Fraud
The CBI on Friday searched the residences of six former and current officials of IDBI Bank in connection with an alleged Rs 600 crore loan fraud case in which Bombay Stock Exchange Chairman S Ravi and the heads of two public sector banks have also been charged, officials said New Delhi.
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State-Run Banks To Link SWIFT With Core Banking Solution Post PNB Fraud
Move comes after Nirav Modi's Rs 13,540 crore fraud, in which fraudulent transactions were not registered on PNB's internal system.
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RBI Has Limited Authority Over State-Run Banks, Says Governor
RBI Governor Urjit Patel defended the central bank's role in the aftermath of the Punjab National Bank fraud case
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US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
-
Valuables Worth Rs 78 Lakh Seized In Bank Fraud Of More Than Rs 300 Crore
Valuables worth Rs 78 lakh were seized after the Enforcement Directorate conducted searches against some oil and gas sector companies as part of a money laundering probe linked to an alleged bank loan fraud of more than Rs 300 crore.
-
4, Including Bank Manager, Arrested For Alleged Fraud In Gujarat: Police
A manager of a Vadodara-based public sector bank was arrested on Monday along with three others for allegedly withdrawing Rs 1.75 crore from a fixed deposit and transferring the money to two other accounts using forged documents, the police said.
-
7 Arrested For Allegedly Trying To Fraud Bank Of Rs 50 Crore In Mumbai
Seven people were arrested for allegedly trying to defraud a leading private sector bank of Rs 50 crore by attempting to pass off fake fixed deposit slips as original, the police said today.
-
CBI Conducting Searches In Connection With 35 Bank Fraud Cases: Report
The Central Bureau of Investigation (CBI) is conducting searches in 169 locations across the country in connection with 35 bank fraud cases, which were registered by it and involve funds of over Rs 7,000 crore, officials said today.
-
Mehul Choksi Cheated Punjab And Sind Bank Of Rs 44 Crore: Report
Diamantaire Mehul Chinubhai Choksi cheated Punjab & Sind Bank (PSB) of Rs 441 million, the public sector bank revealed on Saturday.
-
In Alleged E-Mail Fraud, Crores Sent To Fake Account By Government Firm
The CBI has registered a case against top officials of a public sector helicopter service company on the basis of a Central Vigilance Commission (CVC) complaint that they had transferred Rs 1.85 crore to a fake bank account in Indonesia instead of a Russian firm contracted for servicing chopper engines in 2016. The objective of the probe is to chec...
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Suspended MD Of PMC Bank Arrested In Alleged Rs 6,500 Crore Fraud
Joy Thomas, the suspended managing director of crisis-hit Punjab and Maharashtra (PMC) Bank, has been arrested in an alleged Rs 6,500 crore fraud case, sources in the Economic Offence Wing in Mumbai said.
-
Report On Top 100 Bank Frauds Shared With CBI, Others, Says Watchdog
The anti-corruption body Central Vigilance Commission has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate and the CBI, Vigilance Commissioner TM Bhasin said today.
-
Arun Jaitley's Advice To Banks To Sustain 8 Per Cent Growth
Finance Minister Arun Jaitley today asked public sector banks to take "effective action" in cases of fraud and wilful loan defaults.
-
Money Extremely Safe In Public Sector Banks, Says Piyush Goyal
Public money is "extremely safe" in state-owned banks, Finance Minister Piyush Goyal said today against the backdrop of several cases of frauds, including the $2 billion scam at Punjab National Bank, unearthed recently.
-
RBI Chief Questioned By MPs On Supervision Fail In Nirav Modi Scandal
Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).
-
CBI Names BSE Chairman Among Others In 600 Crore Loan Fraud
The CBI on Friday searched the residences of six former and current officials of IDBI Bank in connection with an alleged Rs 600 crore loan fraud case in which Bombay Stock Exchange Chairman S Ravi and the heads of two public sector banks have also been charged, officials said New Delhi.
-
State-Run Banks To Link SWIFT With Core Banking Solution Post PNB Fraud
Move comes after Nirav Modi's Rs 13,540 crore fraud, in which fraudulent transactions were not registered on PNB's internal system.
-
RBI Has Limited Authority Over State-Run Banks, Says Governor
RBI Governor Urjit Patel defended the central bank's role in the aftermath of the Punjab National Bank fraud case
