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CHINA LOAN FRAUD
From lottery draws to fiscal spending, China broadens digital yuan footprintIn a series of measures, many revealed here for the first time, the People's Bank of China (PBOC) is giving banks policy incentives and beh...- ED probes 234 cyber frauds, tracks crypto links to ChinaIn a sweeping crackdown, the Enforcement Directorate has launched an investigation into 234 cybercrime cases, ranging from illicit online b...
- US stocks Dow, S&P 500, and Nasdaq move uneasily as Trump calms China trade fears, banks start to recoverUS stocks turned higher after President Trump said high tariffs on China will not stay. This helped markets recover from earlier losses cau...
- China regulator to ban Evergrande chair from securities market for lifeChinese regulators are set to ban Evergrande's chairman for life from the securities market due to financial fraud, according to a subsidia...
- Look Out Circular issued against three Chinese nationals in online Ponzi scamThe Bureau of Immigration has issued a look-out circular against three Chinese citizens involved in a large-scale online Ponzi scam. The in...
- How scamsters in India are sending thousands of crores of rupees back to ChinaChinese scammers have suddenly mushroomed after the pandemic, which led to a widespread use of various kinds of apps and other digital tech...
- UP Police unearths Rs 4,200 cr fraud with links to Chinese operatorsEarlier this year, the police found a link with China-based operators and were cheating people out of crores of rupees across India. This w...
- India aims to copy China, but not in lending-by-app crazeThe RBI wants to strike a better balance between the ability of digital lending to democratize credit and its potential to suck people into...
- Fintechs band together to weed out fakesLast year Google had pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with central...
- Probe into instant loan apps fraud throws up China linkConfirming the China connection, superintendent of police, CID-cybercrime, MD Sharath, said: “Operations of the companies which were raided...
- China's biggest gold fraud, 4% of its reserves may be fake: ReportAt the centre of the fraud is Wuhan Kingold Jewelry Inc, a company founded and operated out of Wuhan.
- ED begins second round of questioning of Ahmed Patel in PMLA caseThe team members were seen carrying files and wearing masks and gloves as a precautionary measure in view of the coronavirus pandemic. Agen...
- Bank loans to jewellers grow surprisingly after PNB-Nirav Modi scamThe flow of bank loans to the gems and jewellery sector saw a surprising 5.7% rise between mid-January and March.
- Nirav Modi in Hong Kong? Govt sends request for provisional arrestHe was asked whether the ministry has any clue about the whereabouts of Nirav Modi and Mehul Choksi.
- India trumps rest of Asia for this distressed debt traderIndia now accounts for 30-40% of the Hong Kong-based loan and bond trading firm’s activities.
- Banks leave worries behind, disburse Rs 1 lakh crore in 2 weeksThe trend is in line with the seasonal uptick as credit demand accelerates before the end of the fiscal year but it’s also part of the over...
- Nothing will ever be fraud-proof, detecting scams fast is the only way out: Aditya Puri, HDFC bankHDFC Bank is on the verge of the highest-ever equity mop-up in India. Here the CEO & MD speaks of what he plans to do with the money.
- This global fund bets big on Indian distressed debt“We have probably allocated more capital recently in India relative to China,” the fund said.
- PNB fraud: Bankers, not bureaucrats, should run India's banksIndian banks are being hit with one disaster after another, which caused the largest bank to declare a quarterly loss for the first time si...
- Major irregularities in bank loans in China: AuditorsState-owned Chinese banks granted loans worth USD 4.6 billion without proper procedures or necessary guarantees, auditors said today.
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