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DECEMBER to JANUARY 2021.
* GST evasion of ₹40,000 crore detected from fake invoicing, fraud claims.Read more at:
* Ratan Tata, Really a great visionary and humble gentleman industrialist. Quite a lot of other Indian Corporate's heads need to learn from his example.It is not his priority unlike many , about making money and Riches and getting on Forbes headlines .Really a great asset to India in more than one way.👍👍👏👏👏👏
* The CBI has filed two supplementary chargesheets in connection with alleged illegal remittance of Rs 6,000 crore from a Bank of Baroda branch in Delhi to Hong Kong, camouflaged as payment for imports, sources said.
In the chargesheets filed before a special CBI court, the central agency has alleged that a group of people opened accounts and deposited funds in them through various other accounts.
The CBI has named nine accused in the supplementary chargesheets: Tanuj Gulati, Ish Kumar, Ujjwal Suri, Hunney Goel, Sahil Wadhwa, Rakesh Kumar, Sagar Gulati, Bhanu Gulati and VPC Management Consultants Pvt. Ltd.
The agency had in 2015 booked several officials of the bank and others for allegedly making remittances of over Rs 6,000 crore to South East Asian countries by 59 current account holders from the Ashok Vihar branch of Bank of Baroda in the garb of purported payments of "non-existent" imports, the sources said.
The CBI sources said the agency has found that the Ashok Vihar branch of the bank was a relatively new one and got the permission to entertain forex transactions only in 2013.
The Central Bureau of Investigation has booked Lekhraj & Sons and five others for allegedly cheating the Union Bank of India to the tune of ₹51.29 crore.
The other accused persons have been identified as Ashok Kumar Miglani, Arun Miglani, Siddharath Miglani, Surinder Kumar Miglani and Poonam Miglani.
* Beware Recruiting companies.
As Working from home and hiring online the candidate, the selected candidate online and the candidate appeared actual offline can be different!!
Fraudsters come in multiple ways.
Hiring fraud! The 'talented' Mr Ripleys plaguing India Inc
Inside Elizabeth Holmes’ crazy rich lifestyle – the disgraced billionaire on trial once spent US$100,000 on Theranos’ conference table and lives on a US$135 million luxury estate.
* A Decision Maker Unknown to Man!!
**One of the main reasons & CON of Social Media and increase in online financial Frauds and perverted behaviour of teens & youngsters is due to the development of technology and its impact on social media apps that are manipulated by artificial intelligence the human behaviour & is well explained under...
SOCIAL MEDIA DILEMMA!!
A DECISION MAKER UNKNOWN TO
Banks Recover ₹ 13,100 Crore From Vijay Mallya, Nirav Modi, Mehul Choksi
Speaking on the banks' recovery from wilful defaulters, Nirmala Sitharaman said a total of ₹ 13,109.17 crore has been recovered from the asset sales of Vijay Mallya, Nirav Modi and Mehul Choksi as of July 2021 as per the information provided by the Enforcement Directorate.
* In festive season, fraud app installations touch new high: Study.
* Log4j zero-day vulnerability: What it is and how it impacts users, all explained in 5 points
Security risks associated with Java-based logging library Log4j have sounded the alarm for cybersecurity teams around the globe. The vulnerabilities are actively being exploited by attackers and these nefarious attempts are only expected to increase in the days to come. Here is what we know about the newfound security risk so far.
* conducted a workshop on frauds awareness to students of a aviation management Institute AIAT,vizag.
**Many more such workshops are needed to educate the youngsters of graduate & post graduate levels on Frauds' awareness who can be careful as well in turn can carry forward to the public..
#education #frauds #fraudsdetection.
* Swiss watchdog faults two more banks in Venezuela money-laundering probe.
**Over 9,000 complaints of cyber frauds received on National Consumer Helpline in FY21: Rajeev Chandrasekhar
He noted that CERT-In also conducts regular training programmes for network/system administrators and Chief Information Security Officers (CISOs) of Government and critical sector organisations regarding securing the IT infrastructure and mitigating cyber-attacks.
Timely act by police helps woman recover money lost to online fraud
STAFF REPORTERKOCHI , NOVEMBER 29, 2021 22:39 IST
UPDATED: NOVEMBER 29, 2021 22:39 IST
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Search for a potential offer for smart TV during Deepavali almost cost her ₹75,000.
Nomura said on Monday that certain unknown persons and entities claiming to be a part of the foreign firm were illegally soliciting services regarding trade in cryptocurrencies or their derivatives through online platforms in India, including Whatsapp groups.
Read more at:
** Elon Musk has just received a big jolt from the Government of India, which has barred his company from selling satellite-based broadband internet plans in the country in the absence of requisite permissions and licences. Starlink – which is SpaceX’s satellite internet service seems to have thought that it can enter India without any licences and begin distributing its network across the country without anybody raising an eyebrow. Musk’s SpaceX has been accepting pre-orders for the beta version of the service for a fully refundable deposit of $99 (around ₹7,400). Not only did the Modi government bar Starlink from selling internet plans in the country, but also issued a public advisory asking people to not buy such plans under any circumstances.
**WHO update on Omicron, the new #COVID19 variant of concern: What we know and what we don't .
**Russian ‘King of Fraud’ sentenced to 10 years in prison for Methbot digital ad scheme
Authorities said the scam raked in $7 million.
**Govt to move bill to ban all ‘private cryptocurrencies’
**Justification to cheat on online exams amidst covid19 Pandemic.. All HR personnel should thoroughly grill prospective employees who appeared online professional exams during this Covid 19 Pandemic.
Govt to move bill to ban all ‘private cryptocurrencies’
Online exam cheating frauds ,
amidst Covid 19.
Amidst Covid19, Pandemic and online classes and online exams,a person may cheat on the premise of Fraud triangle attributes.
Fraud triangle attributes applies here 1.Oppurtunity to cheat 2. Pressure to pass and secure high marks finally 3. Justification that many are doing it.
Point is an otherwise honest student by resorting to this fraud may turn out to be a occupational fraudster down the future ,if he/ she is not caught !!
**HR departments must be very meticulous while employing those who appeared professional exams.Online!!
Do you know??
What is "STATE CAPTURE" ..
This happens all the time across the world in some format by some people and Organisations!
"The illicit control of the State , for personal gain by corporations, military, Governments, politicians, through the corruption of public officials...."
(Collins English dictionary).
***arliamentary panel finalises draft report on data protection bill
The draft report on the Data Protection Bill was referred to the parliamentary panel in December 2019. The report with recommendations is now likely to be placed before the Lok Sabha speaker.
MONEYCONTROL NEWS NOVEMBER 22, 2021 / 02:36 PM IST.
Vulnerability in PNB server exposed customer data for about seven months: CyberX9
Cyber security firm CyberX9 has claimed that the vulnerability provided access to the entire digital banking system of PNB with administrative control
PTI NOVEMBER 21, 2021 / 02:46 PM IST.
Bengaluru hacker broke into state’s e-procurement site and ‘stole’ funds
Police said the hacker and his associates set up a system of routing the stolen money back through hawala channels -- after it was initially moved from the e-procurement cell to an NGO's account in Nagpur and the account in Bulandshahr.
NEW DELHI: Microsoft has warned that Iranian hackers are increasingly targeting software services companies in India in a bid to access the networks of their customers.
Mumbai: Digital frauds have undergone a sea change since the beginning of the pandemic, and fraudsters are becoming more sophisticated to gain people's trust. As the country marks the beginning of the International Fraud Awareness Week 2021, HDFC Bank has launched a campaign urging its customers to take a pledge to not share confidential banking information with anyone. The... https://www.indiantelevision.com/mam/marketing/mam/hdfc-bank-urges-customers-to-keep-their-mouth-shut-to-prevent-frauds-211116
Kannur police’s investigation not just landed up in ponzi money scheme, but a cryptocurrency fraud
M.P. PraveenKOCHI:, NOVEMBER 13, 2021 14:08 IST
UPDATED: NOVEMBER 13, 2021 14:15 IST.
World Health Organization4,316,934 followers2mo • 2 months agoHoarding of #COVID19 vaccines by some countries and lack of global solidarity makes us vulnerable not only to this virus, but also to the next ones that may come along. #VaccinEquity
Join our fight to end the pandemic 👉www.who.int/vaccinequity
DO NOT GET CARRIED AWAY WITH Whatsup Messages LIKE BELOW 👇from unknown numbers and get cheated...Do not get Tempted...it is a FRAUD!!!👺DO NOT RESPOND,DELETE OR BLOCK THE NUMBER.
Covid, crisis, and frauds: How oxygen scammers are duping desperate patients.
Gang which carried out cyber frauds ..
Read more at:
ave yourself from financial frauds, online and offline. Here's howPersonal Finance
Harshita TyagiHarshita TyagiUpdated Oct 25, 2021 | 06:24 IS.
Online frauds, including QR Code scams, are rising. Here’s how to stay safe
Here are a few practices to follow so that you don't fall prey to any cyber scams.
KARAN BAJAJ OCTOBER 21, 2021 / 05:22 PM IST.
US Court Rejects Nirav Modi Plea On Dismissing Fraud Allegations: Report
The PNB and the other defrauded banks are reported to have lost in excess of USD1 billion as a result of the fraud, the judge wrote in his order.
All IndiaPress Trust of IndiaUpdated: October 19, 2021 10:30 am IST.
Pressure mounts on Amazon after report on its India malpractices
SECTIONSPressure mounts on Amazon after report on ..
Read more at:
Welcome to Britain, the bank scam capital of the world
Read more at:
After Panama, it’s Pandora: facing regulatory heat, elite Indians find new ways to ringfence wealth in secret havens
Pandora Papers | Top businessmen to corporate defaulters, CBI, ED-accused to celebrities: an investigation by The Indian Express finds how complex offshore trusts are used to park assets and evade detection.
Hyderabad: CBI books seed firm for Rs 338 crore bank fraud
Read more at:
No end to online frauds as 4 more cases reported in Bhopal
Read more at:
11 Nigerians indicted in US for romance scam, wire fraud
25 September 2021 | 10:35 am
Check out this great video
Check out this great video
WHEN THE VICTIMS ARE NOT CAREFUL AND APPLY COMMONSENSE BEFORE PARTING THEIR MONEY TO UNKNOWN PEOPLE ONLINE????
BLAME SHOULD GO TO THE "VICTIM" FOR BEING CARELESS!!!????
ONE SHOULD FOLLLOW BASIC COMMONSENSE OF DOUBLE CHECKING WHEN SENDING MONIES IN A HURRY TO #UNKNOWN PERSONS, FOR VARIOUS DEALS ETC ONLINE AS THERE ARE AS MANY FAKE PEOPLE AND FRAUDSTERS ONLINE AS THERE ARE GENUINE PEOPLE AND ORGANISATIONS.
Beware of these Frauds.!!
More expected in 2021 due to extended work from home, besides, fraudsters ,as many a time said, one step ahead and more smart than system security organisations or Antivirus software companies or other data safety consultants etc.
If any person or organisation is ,lax at any point of time, well they are prone to Attacks and Data Breach!!
#Cybersecurity #frauds #vishingscams #phishingscams #databreach
Stop Frauds * Fight Frauds * Detect Frauds *Prevent Frauds
Visit: My YouTube channel lessons on frauds on my website link.
First, as already, several times, I noted, in different contexts "INTRENET" is never, ever, safe, in any form.
In my opinion no one can ,ever, guarantee you, privacy & safety, once you are "connected" and on "internet".
Hence it is as simple as that-whether it is ,Whatsup, Facebook or any other app that is available if you are using it, always you are using at your own risk!
In my opinion, it is a Lie ,if any one guarantees safety and privacy and free from hacking or data breach, once you are "wired" and "Connected" over the World of Internet.
So it follows the well accepted law-
"Let the buyer beware".
WhatsApp is forcing their 2 billion users to accept their updated privacy terms or have the app delete itself. Users will have to continue WhatsApp to share their data across Facebook’s larger network. But that’s the issue. There has been a lack of transparency as many users didn’t know their data was being shared in the first place.
COVID 19 Pandemic has diverted millions across the world for Online purchases to avoid going into crowded places.
Fraudsters and Hackers took this opportunity to penetrate even secure systems with anti virus and Firewall safety of Many Retail organisations like:
1.Brendon Gyermekáruház Kft, a baby clothes store in Hungary,
2.Subway in United Kingdom
3.Premier Kid's care,Georgia,USA
So any retail organisation is vulnerable for these attacks and hence there should be continuous updates of the POS software and other security measures constantly and keep an eye on any suspicious activity .
Refer to the following website for more detailed information on these kinds of frauds.
BE AWARE AND BEWARE OF FRAUDS
Also refer for more information :
LATEST ON NIRAV MODI PNB SCAM.... Nirav’s sister, her husband opt for pardon, to testify against him Last month, Nirav Modi's younger sister Purvi Mehta and her husband, Maiank Mehta, had filed applications before the court stating that they wanted to distance themselves from Nirav Modi, and could provide “substantial and important evidence” relevant to him and his dealings. This is what happens when tables turn!! Each one wants to save their skin, forget relationships and join-misadventures together. Bottom-line however is to.... Bring the prime accused fraudsters to India and to Book and initiate legal action, Prove their fraudulent activities and prosecute and punish appropriately. Then Justice is done. For more details run through the following link. https://lnkd.in/gZRxu9Z
Loan app. Frauds have become a big issue, the vast Majority of Middle Classes are falling "Victims" to such easily obtainable advances, in India.
Also the companies involved in such advances are alleged to involve in Hawala transactions, Money Laundering and dealing in Bitcoins.
The public in general, despite repeated warnings, are not paying attention to such Frauds, due to their financial needs.
In my opinion, is it not time for the Government , to think seriously and come out with an unconditional social security scheme like in USA ,to assist the, needy, but not necessarily only below poverty line???
The need of the hour is to assist the "needy" but not Rich-Poor categorisation. as in my opinion, the poor are getting some assistance or other, but the people who always suffer are the vast majority of " Middle class".
In a vast country like India we have1.The Rich and very Rich 2. Middle & Upper Middle class and 3.The Poor and finally 4.The very poor , below the poverty line.
The vast majority of "Victims" in India are the "Middle Class "
So bottom-line is , it is not only enough to catch such fraud perpetrators but go to the depth of the problem and find a permanent long term solution to prevent such frauds .
#Fraud#appbased frauds #fraudsters #Fraudsters
Just want to caution all that "Sundays "and "Holidays" are prime time for fraudsters, when we sit relaxed on internet !!
Sundays & Holidays are "Fraudsters" & Hackers'" active working days!!
So Be Aware and beware and be extra cautious while relaxing on internet and busy with buying transactions spree !!!
CYBER FRAUDS increased due to the COVID19 pandemic and the newly adopted culture of working from home also has lead to many security constraints as the employees are using internet from home on their respective Internet providers.
The most prominent cyber frauds observed as per an ACFE report are::
2.Business email compromise
Most important point for the public awarness is to drive the point that public should not get carried away or get panicky over unsolicited calls from Tax authorities etc but report to the nearest cyber police station and never ever disclose their personally identifiable information.-(PII).
As Fraud examiners and Auditors it is our primary responsibility to bring to the attention of public at every oppurtunity about these pitfalls as public memory is short besides fraudsters do social engineering to make people listin to them!!!
Check my youtube videos on
Daphne Caruana Galizia
Shared on her Blog-”Running Commentary” about-Drug smugglers, Money Laundering & Corruption, involving –High officials, Governments & Politicians and corrupt Business corporates.
BUT ,For Her Bold Exposing Of TheCorrupt practices at high places,Money Laundering and corruption and for bringing those people to the book with evidence, she was murdered in a car bombing in Malta in 2017! In 2020
A C F E HONOURED HER POTHUMOUSLY THE ACFE-2020 GUARDIAN AWARD, her son ,Matthew Caruana Galizia ( Who himself is Pulitzer Prize-winning Investigative Journalist & software engineer ), accepted the posthumous aware for her.
Thus, there is a High Risk in the investigation of all Large scale Frauds !Fraud Fighters carry a personal risk in their investigation of all large scams and frauds and invariably in all such instances-The people involves are Top people in the organisation, Governments, Politicians are all involved.
Are you Ready To Fight as a Fraud Examiner & Fraud Fighter?
Brave people are willing to fight battles to defeat the enemy.
A C F E –FRAUD-MAGAZINEMAY-JUNE 2020
Accenture is not confirming the ransom demand. ‘At the end of the day, paying the ransom is never a good idea,’ one solution provider CEO told CRN.
Consortium of 23 banks Cheated about Rs6,000 crores, just like that??What happened to controls,audit, monitoring by banks and statutory authorities in allowing Rs6,000+crores defrauded????