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.
The State Bank of India and Punjab and Sind Bank have been allegedly cheated of over Rs 131 crores in two separate cases of fraud.
It said that Transstroy India Ltd (TIL), established in 2001, is in the business of developing roads, bridges, tunnels, highways etc.
In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. The Central Bureau of Investigation (CBI) has registered two separate cases relating to the bank frauds.
The annual report of Reserve Bank of India showed that the banks frauds of ₹100,000 and above have more than doubled in value to ₹1.85 trillion in FY20, with the number of such cases increasing 28% in the same period.
The Bombay High Court on Thursday granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have beenaccused of money laundering by the Enforcement Directorate in the multi-crore Yes Bank fraud case.
US prosecutors have charged seven people, several of whom are of Pakistani origin, for bank fraud amounting to USD3.5 million over two years.Five of them were arrested Monday
Amid pandemic when people are active online more than ever, the risk of them being targeted through cyberattacks has also increased. In order to make people aware, banks are now making aware customers and sending alert messages asking them not to share confidential information.
Several banks have cautioned their customers against possible attempts by fraudsters as they became active to exploit the three-month loan repayment moratorium offer in the wake of the coronavirus outbreak, officials said on Friday.
Nine wind turbine generators and land, belonging to a Gujarat-based company, worth over Rs 18 crore have been attached by the ED in connection with its probe in an alleged bank fraud case, the agency said on Wednesday.
The CBI carried out searches at 13 places in Mumbai and Lonavala on Thursday after registering a case in a bank loan fraud worth Rs 568.52 crore by P&S Jewellery Limited.
The official said the agency has registered around 35 cases related to bank frauds involving Rs 7,000 crore. The official, however, did not reveal the names of the banks or the accused involved in the case.
PMC Bank Crisis: Week after RBI's restriction on Punjab and Maharashtra Co-Operative (PMC) Bank from doing "any kind of business' and put a limit on cash withdrawals by depositors, a shocking detail has emerged.
Sunil Surendrakumar Kakkad, the chief managing director of Sai Infosystem (I) Ltd, was arrested under the Prevention of Money Laundering Act (PMLA) after he was intercepted by the international police agency Interpol in Liberia, it said.
Earlier, in August a video of cloning mechanism installed in Delhi's Canara Bank ATM had widely gone viral on social media. After which several banks including, SBI, HDFC, ICICI and many others had warned its customer of the fraudster.
Debit /Credit card users alert: Are you a credit or debit card user? Then this news is for you. Almost all banks are now issuing WiFi cards or contactless card for its customers. This type of card does not require to be swiped or dipped in a POS machine or PIN for making payments.
Several people have reported of ATM frauds in the past and about the card skimming technique to clone debit/credit cards to withdraw money from remote locations was used. Recently, a group of citizens in Delhi's Arjun Nagar area discovered an ATM kiosk of Canara Bank rigged with card skimming chip and hidden camera.
India's one of the largest public sector bank has issued a fraud alert for its customer. If you don't follow the advisory you may end up losing your hard-earned money to fraudsters. If you are SBI account holder then you should not ignore this news. Amid growing online fraud, SBI has recently released a warning for its customers and has asked them to stay careful with their bank account details. SBI issued an alert as there have been constant attempts made by fraudsters to steal account holders' money.
Over 100 million customers were compromised in a massive data breach at the financial giant and credit card issuer Capital One.
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