A man in Arizona was arrested for allegedly posing as an Uber driver and stealing over $300,000 in cryptocurrency from unsuspecting passengers. The sophisticated scam involved gaining access to victims’ phones under the guise of troubleshooting the ride-sharing app.
The Reserve Bank of India (RBI) has launched MuleHunter.AI, an AI-powered system designed to combat the rising threat of online financial fraud by identifying and eliminating mule accounts – bank accounts used by criminals to launder stolen money. This innovative technology is already showing promising results in public sector banks, offering a significant advancement in the fight against cybercrime.
A 26-year-old Mumbai woman fell victim to a sophisticated scam, losing ₹1.8 lakh after being tricked into believing she was under ‘digital arrest’. The fraudsters, impersonating Delhi Police officers, manipulated her through a video call, ultimately extorting money under false pretenses. This incident highlights the growing threat of such scams targeting young adults.
Romance scams are on the rise, with Santander reporting a staggering £3.8 million loss to fraudsters in the last six months. This represents a 27% increase compared to the previous period, with the average victim losing a significant £4,500. The bank warns that scammers target people of all ages, with victims ranging from 18 to 93 years old. This alarming trend highlights the importance of being vigilant and taking precautions to protect yourself from online scams.
A Noida resident lost ₹27 lakh after falling victim to an eSIM scam. The scammer, posing as a telecom customer care executive, tricked the woman into switching to an eSIM and then accessed her bank accounts and drained them. The incident highlights the importance of being cautious about unsolicited calls and messages, especially those regarding new features or services. Experts recommend verifying the identity of anyone requesting sensitive information and avoiding sharing OTPs or passwords over the phone.
The Enforcement Directorate (ED) has filed an FIR against Religare Enterprises Ltd (REL) officials, including Executive Chairperson Rashmi Saluja, for allegedly making false allegations against the Burmans of the Dabur Group in 2023. The FIR stems from a complaint filed by Vaibhav Gawli, who accused REL and the Burman family of criminal conspiracy and cheating.
The Enforcement Directorate (ED) conducted raids in Kerala, uncovering evidence of a massive financial fraud involving a Kannur-based businessman, Ismail Chakkarath. Chakkarath allegedly defrauded United Bank Limited in Doha, Qatar, of over ₹61 crore by securing a loan for his Doha-based firm, Grant Mart Trading, but failing to repay it or use it for its intended purpose. The ED seized cash and documents during the raids, and froze 10 bank accounts linked to Chakkarath and his associates. The investigation highlights the increasing challenges of cross-border financial fraud.
A former bank CEO, Shan Hanes, was sentenced to 24 years in prison for embezzling $47.1 million from Heartland Tri-State Bank in a ‘pig butchering’ scam. Hanes fell victim to the scheme, initially investing his own money and then escalating to stealing from local organizations and his daughter’s college fund. The scam involved gaining the victim’s trust through a fabricated relationship and then presenting a fake business opportunity, leading to significant financial losses.
Devanathan Yadav, a BJP ally and chairman of Mylapore Hindu Sasuvat Niti Ltd, was arrested for allegedly defrauding hundreds of depositors of over 50 crore rupees. The arrest comes after investors protested the company’s failure to return deposits, highlighting a growing issue of financial fraud in India.
Sri Lankan authorities have detained over 60 Indian nationals in connection with an online financial scam. The crackdown, triggered by a victim’s complaint, uncovered a scheme involving WhatsApp groups and forced deposits. Police seized numerous phones and laptops during raids in Negombo and Colombo, highlighting the operation’s scale and international connections.
