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SUSPICIOUS TRANSACTIONS DETECTION
SC calls for compensation to digital fraud victims if banks fail due diligenceThe Supreme Court has highlighted banks' accountability regarding digital fraud, asserting that victims deserve compensation for losses due...- India is addressing Wall Street’s favourite ‘elephant’ in the room to its own advantageThe Indian government has identified 762 potential applications of artificial intelligence across 62 ministries and departments, spanning f...
- Beyond ethics policies, businesses face an AI accountability testIndian organizations are increasingly focusing on Responsible AI, emphasizing fairness, transparency, privacy, and accountability in deploy...
- Do banks report deposits over $10,000 to the IRS? What really happens when you cross the cash reporting thresholdA cash deposit exceeding $10,000 in a single day triggers an automatic report to the federal government. Financial institutions do not make...
- MDR gives banks more fuel for UPI playPayment companies can build the customer interface, but a product cannot scale until issuing and acquiring banks connect their systems, tes...
- Dating app chat turns costly: Delhi man loses Rs 82.5 lakh after conversation with a womanA 41-year-old west Delhi man allegedly lost ₹82.5 lakh after a woman he met on a dating app introduced him to a fake online business promis...
- NPCI unveils UPI MDR; Meta's new child safety measuresThe NPCI has finalised the long-awaited MDR framework for UPI transactions, paving the way for changes to the payments ecosystem. This and ...
- RBI proposes 60-day temporary debit hold on suspicious money mule transactions: Key things you need to know about RBI’s KYC directionsThe Reserve Bank of India has announced proposed regulations concerning money mule accounts, allowing banks to implement temporary debit ho...
- GFF 2026: Scindia pitches ‘digital trinity’ of connectivity, compute and trust for AI economyGFF 2026 Scindia: Connectivity, compute, and trust are the new digital trinity for fintech and AI. India's mobile phones and telecom networ...
- FATF issues global alert on money laundering and fraud risks in gaming, gambling; publishes new risk indicatorsThe FATF is alerting countries about criminal abuse in gaming and gambling sectors. Criminals use gambling platforms for money laundering a...
- ED finds Rs 60cr 'financial irregularities' in TMC MP-linked newspaper during 24-hour-long searchesEnforcement Directorate detected Rs 60 crore financial irregularities in an Urdu newspaper. Searches were conducted for over 24 hours at pr...
- Banks, FIU-IND work on sharper framework to flag money mule accountsBanks are enhancing suspicious transaction reporting for money mule accounts. They aim for better analysis and pattern identification by th...
- Text message scams jump 146% in India amid rise in scam-led digital fraud: ReportText message-based scams in India have surged 146 per cent, highlighting a sharp shift in the country's digital fraud landscape towards sca...
- Banking frauds continue to rise amidst Covid-19 pandemicLack of oversight by the bank managers due to the work from home situation and the change in the existing processes could be one of the rea...
- PAN-Aadhaar linking helps detect suspicious transactionsThe I-T department is pushing individuals to link PAN with Aadhaar and so far 17.4 crore individuals of the 37 crore with PAN have complied.
- Fake currency reports double; leads to seizure of Rs 562cr in 2015-16The report of the Financial Intelligence Unit (FIU) said the financial year 2015-16 saw a "record increase" in the detection of such instan...
- Banks use analytics to check fraud in online paymentsThe ability of ATMs to take customers directly to their preferred transaction screen is an example of personalization.
- Finance Ministry detects Rs 400 cr custom duty, tax evasionTaking leads from these STRs, the DGCEI has detected tax evasion of at least Rs 50 crore and recovered Rs 28 crore, the sources said.
- 60,000 bankers trained in detecting laundering, terror fundsSixty thousand bank officials have been trained till now in skills to detect money laundering and terror financing in their transactions an...
- Software to track all your bank dealingsThe government has asked banks to install software to track all transactions so that any suspicious dealing can be reported to the Financia...
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