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MONEY MULE TRANSACTIONS
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...- 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...
- Digital arrest: How India’s fastest-growing scam uses fake investigations and video calls to siphon off croresThey pose as the police, put you under ‘digital arrest’, and tether you to a video call till your savings are gone. How India’s fastest gro...
- 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...
- Good news for senior citizens: Money in this bank can now only be transferred by double OTP verification one to a/c holder and another to trusted contactSenior citizens in Gurugram and Faridabad now have enhanced security for their bank accounts. HDFC Bank has introduced a double OTP system....
- As rupee dips, I-T steps up vigil on shady outflowsIn multiple cases, individuals have used dozens of fake permanent account numbers (PANs) with the same name but different addresses and dat...
- 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...
- Delhi Police busts fake trading app scam; bank official among 3 heldDelhi Police apprehended three individuals, including a bank assistant manager, for a Rs 45 lakh investment scam. The trio allegedly used a...
- 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...
- Trust at risk: Cyber crime is becoming a branding crisis for banksCybercrime is undermining the traditional trust associated with bank brands, forcing a reevaluation of communication strategies. Current an...
- 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...
- India mulls payment lags, checks for senior citizens as digital fraud rises, RBI paper showsThe Reserve Bank of India is proposing new rules to combat rising online fraud. High-value digital payments may face a one-hour delay. Extr...
- 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...
- Menace of 'money mules' and how not to become oneMule accounts are bank accounts that are used to launder proceeds of crime by fraudsters. In an age when there are strict laws on holding o...
- 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 ...
- Lucrative commissions for easy work may entangle you in money launderingThe victim does not suspect anything because there is very little money of his own in the account and he earns a fat commission by doing vi...
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