Banks are grappling with a surge in fraud linked to deposit accounts, surpassing loan accounts in risk. The rise of mule accounts used for ...

Banks are advocating for a unified insurance repository and shared access to customer data to combat loan fraud involving life insurance po...

Union Finance Minister Nirmala Sitharaman responded humorously to Raghav Chadha's banking concerns, urging him to leverage his western expo...

According to the company, the fraud involved the forgery of KYC (know your customer) documents to embezzle company funds.

Mahindra Finance reported a fraud of approximately Rs 150 crore in its retail vehicle loan portfolio at one of its branches in the northeas...

Mahindra Finance Q4 results: A financial fraud has been detected at the North East branch of Mahindra & Mahindra Financial Services during ...

Earlier, asset reconstruction companies (ARCs) would ask creditors selling bad loans for central KYC records, but now the RBI is insisting ...

A report has been released by IDfy on KYC risks in lending. The report has talked about how borrowers try to fraud the lenders by providing...

A fine of Rs 55 lakh has been imposed on Indian Bank for contravention of certain Know Your Customer norms. Muthoot Money fined by Rs 10.50...

RBI, however, said the penalties are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of a...

The decision has come in order to minimise the instances of fraud in the Post Office. Further, only after the updation of the mobile number...

The Economic Survey 2019-20 suggests the creation of GSTN like entity called PSB Network, use of Machine Learning and Artificial Intelligen...

In a statement issued by his lawyers, the raids against him were on the basis of "an old and dated 'Know Your Customer' (KYC) document" sub...

The fraud was done with the connivance of an auto loan counsellor who allegedly hacked the bank's computers to facilitate the loan sanction...

The bank should deal firmly with any fraud, which should enable staff to escalate their concerns and insights on potential frauds to the to...

Soon, completing KYC requirements with one bank will be good enough for opening an account.

Banks have discovered cases of identity theft where fraudsters have created a new third-party identity using misappropriated KYC documents.