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MONEY MULE ACTIVITY
Financial Intelligence Unit puts large crypto OTC deals under scanner, asks exchanges for trade dataIndian financial authorities are examining large over-the-counter cryptocurrency trades. The Financial Intelligence Unit is requesting data...- Banks, fintechs join forces to fight money laundering, terror financing under new platformIndia's financial sector has launched a new platform called ARIFAC. This brings together banks, NBFCs, payment firms, insurers, and other e...
- Operation Mule Hunt: Five held in Gujarat's Gir Somnath in Rs 310 crore cyber fraud caseGir Somnath police have uncovered a massive cyber fraud network. Five individuals have been arrested in connection with suspicious transact...
- Operation Octopus: Trapping the tentacles of India’s cyber fraud networkAmidst the alarming increase in cyber scams, the Hyderabad Police have initiated Operation Octopus, a mission aimed at dismantling the enti...
- Amit Shah pushes district-level plans and security grid along borderUnion Home Minister Amit Shah has instructed border district administrations to create specific Standard Operating Procedures. These will h...
- India to use AI to protect consumers from money mule banking cyber fraud, announces Home Minister Amit ShahIndia will now use Artificial Intelligence to fight money mule banking cyber fraud. The Home Minister announced a partnership between the I...
- Bengaluru techie quit his Rs 30 lakh job to chase a dangerous dream, only to end up being arrestedDelhi Police have arrested a 31-year-old Bengaluru-based software engineer, Ravi Rathore, for allegedly running a fake online trading racke...
- Hyderabad cops want RBI to plug gaps that facilitate cybercrimeHyderabad Police's crackdown on cyber fraud, revealing systemic banking gaps and Rs 400 crore annual losses, has prompted a high-level meet...
- WhatsApp banned 9,400 accounts involved in digital arrest scams since January this year: Centre to SCAuthorities are launching a major crackdown on digital arrest scams. WhatsApp has banned thousands of accounts involved in these frauds. Ne...
- Sebi, DoT join forces to curb market frauds via real-time data sharing platformSecurities and Exchange Board of India and Department of Telecommunications signed an MoU to share real-time intelligence via Digital Intel...
- What are Money mule accounts? Australia’s financial intelligence regulator targets financial crime vulnerabilities in foreign-owned banksAustralia's financial intelligence unit, AUSTRAC, has uncovered significant control and reporting issues within foreign-owned banks. Review...
- AUSTRAC flags financial crime risks in foreign-owned banks over low AML reporting and money mule activityAustralia's financial intelligence agency, AUSTRAC, has flagged serious concerns regarding foreign banks. Weaknesses in controls and low re...
- 660 arrests, 499 FIRs, Rs 519 crore fraud: How Delhi Police's CyHawk 4.0 op caught cyber scamsters across 20+ states within 48 hoursDelhi Police concluded Operation CyHawk 4.0, a massive 48-hour coordinated strike against organized cybercrime syndicates across 20 states ...
- Banks seek power to freeze accounts in illicit transactions cases to rein in cyber fraudTo combat cyber fraud via mule accounts, banks are urging for authority to freeze suspicious accounts swiftly, bypassing lengthy approval p...
- RBI policy acts big on banking frauds: New AI tool MuleHunter.ai by RBI to help reduce digital fraudsReserve Bank of India: The RBI innovation hub in Bengaluru has developed a new artificial intelligence based system to reduce digital fraud...
- Money mule transactions: Banks may block your account for these fund transfers; here's how to secure your accountBank account block: There are at least 5 Indian banks who are tracking money mule transactions conducted through their account holders. In ...
- Money Mule Scam, a new fraud: How to spot and safeguard your money from fraudstersDigital banking frauds: Mule Accounts are being used to launder money and what's worst is that legitimate Indians are lending their bank ac...
- Bureau introduces ‘Money Mule Score’ to tackle rising identity theft in the BFSI segmentAs per NASDAQ’s Global Financial Crime Report 2024, among anti-financial crime professionals surveyed, 47% listed money mule activity as a ...
- Money mule scams: What is it, how to avoid itA money mule is a person who moves or transfers money that has been obtained unlawfully on behalf of another person in exchange for quick f...
- Follow KYC norms to check terror funding; RBI to coop banksMany a times the address and contact details of such mules are found to be fake or not up-to-date, making it difficult for enforcement agen...
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