The CBI has booked two officials of State Bank of India for allegedly waving principal amount of over Rs 90 crore of term loan of a company in violation of guidelines, causing a loss of Rs 200 crore to the bank.Besides the SBI officials, the agency has named its FIR Chennai-based Quitegra Solutions Pvt. Ltd., its the then Chairman V Shankara Raman, its non-Executive Chairman Melvettil Padmanabhan, whole-time Director V Sriraman, and Independent directors Kamakshi Shankara Raman, R Kalyanraman and G Venkatrajulu.The CBI has alleged that the loan account was taken over by SBI from Andhra Bank in 2014 with a loan credit of Rs 7.14 crore.It alleged that the bank enhanced loans to Rs 114 crore over a period without any collateral security.The CBI has alleged that the two officers of SBI — N Parthiban and S Muralidhar — entered into a criminal conspiracy with executives of the company for a one-time settlement of Rs 14.50 crore with a condition to write off assets under custody against the total outstanding dues of Rs 214 crore by October, 2013.It alleged that the officers went ahead with the proposed one-time settlement of Rs 14.5 crore by waiving principal portion of the term loan amounting to over Rs 90 crore.”The huge waiver of principal portion of term loan running close to Rs 90 crore is very unusual and deviation from laid down norms and procedures of the bank and the RBI,” the FIR alleged.It said the officials of the bank and the company allegedly caused undue loss of over Rs 200 crore to the bank and corresponding pecuniary gains for themselves.All the accused have been booked under IPC sections related to criminal conspiracy, cheating and under provisions of the Prevention of Corruption Act.
Join the discussion<!–end of artlbotbor–>
Mumbai city has seen a whopping 43 per cent rise in cases of debit/credit card fraud as compared to last year. While as many as 546 cases of credit/debit card fraud were registered in Mumbai from January till November this year, 382 cases were registered last year during the same period.Experts say that the increase was reportedly due to demonetisation as a huge number of citizens went for cashless transactions after November last year.While, debit/credit card fraud cases are on the rise, the detection of these cases have come down. According to Mumbai police’s statistics, while 50 people were arrested in these cases from January till November last year, this year, 35 people were arrested during the same period.”An increased number of citizens have gone for cashless transactions following demonetisation last year and hence the instances of debit and credit card frauds have increased. There are various modus operandis that cyber-fraudsters use to dupe citizens. The most common of them is where debit cards of users are being cloned using skimming devices,” said a senior Mumbai police officer.Speaking about what precautions one can take to ensure they are not duped, the officer said, “One must not share his/her card number, CVV number and expiry date of a card. In case of suspicious transactions, one should immediately notify the bank. Also, please beware while swiping your cards at restaurants and bars; do not share your PIN with the waiters and enter the PIN for the card yourself in the swiping machine.””Around three years ago my credit card was cloned and the bank refused to file a case in this regard. The numbers revealed in the police statistics are actually very low than what it should be. Such massive frauds are not possible without the connivance of bank officials. It is highly possible that bank officials give customers’ debit card/credit card data and client phone numbers to the cyber-frauds, which they use for their benefit,” said cyber expert Vijay Mukhi.In a bid to increase the detection and conviction rate of cyber crimes in the city, Mumbai police have set up specialised cyber crime investigation units at each police station in Mumbai. “The policemen working in these cyber-units are well trained and the main aim for setting up these units is to take the burden off the Cyber-Crime police station,” said another police officer.HOW TO STAY SAFE?Do not share your card number, CVV, and expiry date Notify the bank immediately about suspicious transactions Do not share PIN with waiters at bars and restaurants
Join the discussion<!–end of artlbotbor–>
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A 57-year-old woman allegedly lost her gold ornaments worth Rs 2,65,000 kept in the bank locker of a Matunga branch. The woman in her complaint has alleged that while most of the gold ornaments were intact inside the locker but she found some of them missing. The Matunga police have registered a case of theft in this regard.According to police, Auxilia Bhaskaran, 57, a resident of Tulsi Pride in Chembur alleged that she found her bank locker of the State Bank of India open and her gold jewellery was missing. The police are checking CCTV camera footages to ascertain the statement of the complainant, and to check whether the ornaments were stolen by an employee of the bank.”The CCTV cameras are not installed inside the locker section of the bank and the victim had checked the locker last year to check her belongings,” said a Matunga police officer.N Ambika, Deputy Commissioner of Police, Zone 4, said, “We have registered a case under section 380(theft) of the Indian Penal Code against an unknown person. The woman has also claimed that most of the gold ornaments are intact inside the locker and we are probing as to how the ornaments went missing.”
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The state government has decided to transfer tribal development funds directly into the bank accounts of gram panchayats from May 1, 2018 to ensure the speedy development of tribal areas. This will make Maharashtra the first state in the country to make such a move, which promises to not only get rid of red tapism but also cut down on corruption.According to the tribal development department, around 9 per cent of the total fund in the state’s annual budget, which amounts to about Rs 5,000 crore, is reserved for the welfare and development of tribal communities. However, most of the time, this fund does not reach the citizens it is intended for, according to an official. “It often gets stuck in red tapism, with files gathering dust in the Mantralaya. Therefore, from May 1, 2018, on the eve of Maharashstra Day, we have decided to directly transfer the funds into the bank accounts of gram panchayats,” added the official.As per the government’s records, Maharashtra’s tribal population stands at 1.5 lakh however a mere 60,000 people have benefited from various government tribal schemes so far. “We’ve had good schemes for the state’s tribal communities however most of these are rife with corruption, with middlemen and contractors enjoying the funds. We decided to plug the loopholes and the system and transferring the funds directly seemed like the best available solution,” said another official.As per this decision, if a village’s population is 100 per cent tribal, its panchayat will receive Rs 10 lakh. “The panchayat can utilise this fund as per its requirements. They will no longer need to run from pillar to post to obtain various permissions,” said an official.ABOUT BENEFITSThe state’s tribal population is 1.5 lakh but only 60,000 have received benefits. Around 9 per cent of the state’s annual budget is reserved for tribal communities.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The staff of Juinagar branch of Bank of Baroda in Navi Mumbai was shocked on Monday morning when they found out that a tunnel had been dug into the locker room, and cash and valuables estimated to be valued at Rs 2 crore and above had been emptied out of 30 lockers.In a dramatic fashion, the thieves had rented a shop located near the bank six months ago, ran a general store there as a cover-up for their activities, and dug 25 feet underground tunnel leading into the locker room of the bank to execute the heist.According to the police, in May, the suspects had set up Shree Balaji General Store in a unit located two stores away from the bank branch located in the Bhakti residential society in Sector 11 of Sanpada. The police have identified the main suspect in the case as Gena Prasad, under whose name the shop premises was rented.”The thieves had conducted a proper recce and after finding the bank shut over the weekend, they entered the bank and took away the jewellery and cash kept in the lockers,” said a Sanpada police officer. Of 225 lockers at the bank, 30 were found emptied out, police said.”The neighbouring shop owners have said that the thieves had set up a general store,” said the officer.”They opened the store every day for daily business so that people would not be suspicious of their presence. Neither the bank guard nor any person in the building heard any noise while the tunnel was being dug.The thieves were digging the tunnel since the past few days and were waiting for the bank to be shut for the weekend,” he added.”The locker owners have been asked to give their statements to ascertain the value of property lost in the theft. Prima facie the amount is estimated to be at least Rs 2 crore, and we are waiting for the bank customers to report the total loss of their belongings,” said a police officer.Hemant Nagrale, Commissioner of Police, Navi Mumbai, said, “We have few leads in the case and a case under sections 454 (house breaking), 457 (house breaking at night) and 380 (theft) of the Indian Penal Code has been registered at Sanpada police station.PLANNING AHEADThe suspects had set up Shree Balaji General Store in May. It was located two stores away from the bank branch in the Bhakti residential society in Sanpada.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Rajnish Kumar will take charge of State Bank of India (SBI) as chairman at a time when the India’s largest bank has absorbed the subsidiaries under its direct wings, the banking sector is feeling stressed under non-performing assets (NPAs) and overall economic growth is slowing down.Kumar, currently a managing director with the bank, will take over the new role on Saturday, succeeding the bank’s first lady chairman Arundhati Bhattacharya. As the 25th chairman of SBI, he will face several challenges both internal and external. He will have to ensure that the integration process of the subsidiaries reaches a level of deep maturity, other growth wrinkles are smoothened and the NPAs fall dramatically.Within the bank, Kumar is known to be a risk taker and is open to new challenges. Colleagues in SBI say that he is a consensus person who is not afraid of testing a new idea.If not made chairman, Kumar would have retired in January, when he turns 60. The promotion to the top has come at the right time as it gives him an extended tenure of three years in the bank. He has been with the SBI for over three decades, having joined the bank as a probationary officer in 1980.In many ways, Kumar was groomed as the next successor. Having closely worked with the outgoing chairman Bhattacharya, he will ensure continuity of the bank’s vision, focus on digital initiatives and at the same time be a banker to every Indian.A senior deputy managing director of the bank said, “He is a go-getter and a peoples’ person. Very innovative and a person with an all-round experience.”Kumar has vast experience in handling large credit, project finance, forex and retail banking. He has also held important positions such as regional head – SBI (UK); chief general manager – North East circle, chief general manager – project finance and managing director (risk & compliance).As a chief general manager in charge of infrastructure about six years back, sitting Kumar used to caution about infrastructure lending and the need to incorporate risk mitigations from SBI’s Ballard Estate branch.Currently, Kumar looks after retail banking and latest initiatives in payments and digital banking. Prior to that, he headed SBI Capital Markets Ltd, which is the merchant banking arm of SBI, in the capacity of MD & CEO.Preparing for the captain’s role, Kumar said, “It is indeed an honour to be entrusted with the leadership of SBI at a time when India is best poised for growth. I look forward to serving the bank to the best of my abilities along with the support of all my colleagues spread across the globe.”An avid traveller, Kumar has visited several countries. He is passionate about sports and badminton as a hobby.A post graduate in physics, Kumar is a Certified Associate of Indian Institute of Bankers. He has held several key assignments across various business verticals, including two overseas assignments in Canada and the UK.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Miscreants looted money from a branch of a nationalised bank near the Howrah station, police said today. The State Bank of India (SBI) Howrah station branch staff after opening the bank today found that the iron grill of the bank was broken and money missing from the branch, the police said. They immediately informed the police. The police suspect that the miscreants had entered the branch by breaking the iron grill on Sunday when the bank was closed. We are investigating the matter, the police added.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Bombay High Court has stepped in to ensure that an amount of USD 5,00,000 that was inadvertently credited to an account operated by two Mumbai- based businessmen 16 years ago, is finally returned to the bank. An international bank had mistakenly transferred the sum into the account of Sharad Agarwal and Atit Agarwal. In an order passed on August 4 this year, Justice Suresh Gupte held that it was clear that the amount had been credited accidentally, and restrained the businessmen from selling off their assets or creating any third party rights on all immovable properties that they own in India. The directions came on a suit filed by the bank, BNP Paribas, against the Agarwals. As per the suit, In November 1999, the two businessmen opened a Swiss bank account with BNP Paribas. In September 2001, the bank mistakenly credited an amount of USD 5,00,000 to this account. The Agarwals realised the bank’s mistake and promptly emptied their account. In 2003, the bank’s auditors realised the mistake and directed the two men to return the money. When they refused to do so, the bank sent them a legal notice and registered a criminal complaint against them in Geneva. The Agarwals, however, failed to respond to the summons sent to them by the Swiss authorities. And in 2008, a Geneva court ordered that the duo return USD 5,00,000 in question, pay an interest of five per cent on the amount, and that they also pay an additional USD 39,000 as the legal fees incurred by the authorities. When the duo failed to follow the court’s order, the bank filed a suit in the Bombay High Court. The bank sought that the duo be directed to act in accordance with the Swiss court order. It also sought that till the final hearing of the suit in the Bombay HC was completed, they be restrained from selling or disposing of their assets and properties to ensure that they do not shift their assets out of the country and evade payment to the bank. Sharad and Atit Agarwal in turn challenged the suit on the ground that while they were based in Mumbai for business purposes, they were citizens of Caribbean nations Belize and Grenada, respectively. They also argued that the Swiss court order was an ex- parte one since they were not present in the court at the time, and that the limit of three years that the Indian law fixed for such recoveries to be made, was already over. Justice Gupte, however, held that the Geneva court’s order was passed on merit, and that since they operated a business out of the city, they came under the high court’s jurisdiction. He also held that considering the two realised the bank’s mistake and still “wiped off their Swiss account”, there was every chance that they would try to “shift their assets out of India to defeat the dues payable to the bank”. Justice Gupte has now posted the matter for final hearing. He, however, granted four weeks to the Agarwals to file an appeal against the order.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
The victim, Deepika Tiwari, who works with a private company, received a call from Sachin, who introduced himself as an executive from UIDAI <!– /11440465/Dna_Article_Middle_300x250_BTF –>A Mumbai-based woman was duped of Rs 45,000 in debit card fraud after a caller posing as a government officer from Unique Identification Authority of India (UIDAI) transferred money from her account on the pretext of linking her bank account with her Aadhar card. The victim, Deepika Tiwari, who works with a private company, received a call from Sachin, who introduced himself as an executive from UIDAI.”He asked me for my CVV number and number of my debit card and asked me to share the verification message password.” The victim unsuspectingly shared the OTP after which she received SMS alerts of bank transaction.”I immediately informed the bank and tried to lodge a complaint at Dindoshi police station but they refused citing jurisdiction of another police station,” she added. “We have received a complaint and our probe is on,” said a police officer from Dindoshi police station.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A gang of armed dacoits stormed into a UCO Bank branch near here today and decamped with around Rs 7 lakh, the Nagpur Rural police said. The incident took place at around 4.50 pm when at least five to eight armed men, some of them wielding pistols and knives, broke into the UCO Bank branch at Gondegaon WCL mines in Kanhan village of this district, they said. The dacoits looted around Rs 7 lakh from the bank. They then smashed the CCTV cameras installed in the bank premsies and also took away the DVR (digital video recorder) while fleeing in a silver Innova car, the police said. An officer of the Nagpur Rural Control Room told(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Punjab police today held a meeting with representatives of several banks here to sensitise them regarding increasing financial frauds. The meeting was attended by the Deputy Commissioner of Police (Ludhiana), Dhruman Nimbale, officials of the Cyber Crime cell and nearly 57 controlling officers representing about 900 banks branches. The bank officials were instructed to assess the vulnerabilities of their banking systems and ATM kiosks. They were also instructed to have guards deputed at all ATMs, and keep CCTV cameras in working condition, the police said. They were also told to scrutinise and verify the credentials of cash-van carriers and their security personnel, they said. They were briefed on how to keep a check on the online transactions of customers, who were not aware of cyber frauds and could be misled by fraudulent call-centers, they said. The bank officials were also directed to closely scrutinise all transactions and sound an alert if any suspicious one takes place, the police said. It was discussed to device mechanism of sending SMS to the customer when a cheque is received for withdrawal from the customer’s account to stop any fake ones from getting processed, they said. As per the guidelines of RBI, all the banks have to take the details of beneficiary person or account when amount exceeds Rs 50,000, officials said. The bank officials were also made aware of the different modus-operandi of criminals and instructed to provide information asked by the police.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A retired police officer has filed a case here against officials of nationalised bank alleging that more than a lakh of rupees was withdrawn from his bank branch without his knowledge or consent. Retired Deputy Superintendent of Police Nurul Islam in his police complaint alleged that Rs 1,30,754 was withdrawn from his State Bank of India, Haibargaon branch account between June 25 to July 23 this month without his knowledge and consent, the police said. He further alleged that he failed to receive any SMS alert during the last one month in his registered mobile phone number when the money was withdrawn from his account. The bank, however, denied any bank officials involvement in the withdrawal of the amount and decided to start an inquiry into the allegations.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The CBI has arrested a former Bank of Maharashtra official and the director of a Gujarat-based logistics firm in a loan fraud case. The accused were identified as Padmakar Deshpande, the then Zonal Head (Pune city) of the Bank of Maharashtra and Rajkumar R Baid, the director of Siddhi Vinayak Logistics Ltd, Surat, the probe agency said in a release. During 2012-14, the Bank of Maharashtra had sanctioned loans in the names of 2,802 drivers of Siddhi Vinayak Logistics under the latter’s “Chalak Se Malak” (from driver to owner) scheme for purchasing trucks. However, the loans were sanctioned without the knowledge of the individual drivers, based on forged documents and the company diverted the amount for some other purposes, the CBI said, adding it caused a loss of Rs 836.29 crore to the bank. Deshpande allegedly processed these loans by ignoring various irregularities and violating guidelines of the bank, the probe agency said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Supreme Court today refused to pass any direction on a plea filed by a man seeking a direction to exchange over Rs 14 lakh, which were found in his bank locker of his late mother. A bench headed by Justice Dipak Misra said that it would look into the plea after a batch of pending pleas on the issue of demonetisation were disposed of by a bench headed by Chief Justice J S Khehar. The top court was hearing a plea filed by one Buddhi Ballabh Joshi, through his advocate Rahul Trivedi, seeking a direction to exchange Rs 14,50,000 lakh found in the bank locker of his late mother. The petitioner claimed that he was the adopted son of one late Chandrakanta Joshi, who executed a will in his favour and after the death of his mother, he had filed a suit for probate (process through which a will is proved in court) in the court of the district judge, Gautambudh Nagar, UP. During the pendency of the case, demonetisation policy was implemented and therefore, got had no option, but to approach the appropriate court of law to get the old currency exchanged and transferred into the account of his late mother, he said. “Keeping in view the aforesaid facts in mind the petitioner filed a suit for issuing the certificate of inheritance for the several bank accounts and bank locker of deceased. Civil judge (senior division) directed the bank to open the locker of my mother in the presence of bank officials and independent witnesses. “When the locker was opened, currency in denominations of Rs 1000 and Rs 500 worth Rs 14,50,000 was found. Due to demonetisation the currency was no longer a legal tender, therefore the subordinate court directed that the amount be deposited with the RBI and the entire amount be transferred in the account of deceased Chandra Kanta Joshi,” he said. The bank officials tried to deposit the money in the Reserve Bank of India, but it refused to deposit the amount citing the pending cases in the Supreme Court, it said. The prime minister, in a televised address to the nation on November eight last year had declared that high denomination notes of Rs 500 and Rs 1000 would no longer be legal tender.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Burglars drilled a hole through the wall of the strongroom of a nationalised bank branch in Modinagar here and looted 25 lockers, police said today. The incident came to light yesterday after an employee of the Punjab National Bank opened the strongroom and found a number of lockers looted. Although bank manager Ashok Srivastav in his complaint to police claimed that only 11 lockers were looted, during investigation, it was found that 25 lockers were looted. It is suspected that the incident took place in the intervening night of Saturday and Sunday, a police official said. Senior Superintendent of Police H N Singh said, “It is difficult to say that how much money and ornaments have been looted from the lockers as none of the bank customers who availed locker facility have given a list of items they had kept there.” The burglars entered the bank after drilling a hole on the wall on that side of the bank building which faces the a cloth mill area which is deserted, the officer said. No security guard was deployed outside the bank boundary or to keep vigil on the main gate. The burglars broke into the bank exactly in strongroom where the lockers were fitted. Even the alarms of the bank did not go off and five of the six CCTV cameras were not functioning, the SSP said. The bank manager has been questioned and investigation is underway, the police officer said.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A Mumbai-based man’s sister’s wedding is in jeopardy after he lost the money he had saved for the marriage to a ‘vishing’ (voice phishing) caller.The victim was duped of Rs 4.6 lakh by the caller who, after acquiring his bank credentials, hacked the account and continued to siphon off money for 26 days, while the victim remained unaware of it as he was not receiving any alerts.According to the complainant, Hiralal Jaiswal (29) had received a call from the imposter about a month ago, introducing himself as Shrivastava, a manager of a bank where he has his account. Shrivastava told Jaiswal he was calling to verify his bank account details, which is done annually to update the data. The fraudster then initially asked for basic details like full name, address, phone numbers, profession, and then began asking for bank details. Unsuspectingly, Jaiswal shared all details, including CVC number, password, pin code, OTP and expiry date. As Jaiswal gave the details, the fraudster disconnected the call saying ‘verification’ is done and now you can uninterruptedly use the banking service. Twenty six days later, when Jaiswal went to deposit some money in the bank, he checked his balance and came to know he has been duped. He then immediately rushed to Kherwadi police station and lodged the complaint.”The fraudster had hacked the account and replaced mobile numbers of the victim with his own so that there would be no alerts. He made 30 transactions from the account to pay the bills and recharge in various countries. Our probe is on,” said a police officer.”The money had been saved for my sister’s wedding during Diwali. As all our saving has lost, I am helpless and uncertain of how the function will take place,” Jaiswal told DNA.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The inter-connectivity of social media and E-wallets for banking on mobile has become the perfect hunting ground for cyber crime. In the cashless society, the fraudsters are coming up with several new modus operandi/tricks to dupe victims and to be untraceable. The recent one is phishing callers using E-wallets to siphon money, The Mumbai police have received several complaints recently wherein the victim gets a call from the fraudsters and after hacking into E-wallet money, siphons the money.In one of such complaint registered in the Sahar Police Station, a 21-year-old youth lost Rs 20,000 from his bank account. This time the fraudster used E-wallet to siphon the money as the wallet was linked with the bank hence the fraudster hacked the E-wallet.The investigators say the modus operandi of fraudsters has changed a bit as they use mobile wallets to transfer the stolen money instead of directly transferring it as it helps them confuse the authorities and be untraceable.Meanwhile, in another case registered in BKC police station, a 25-year-old was duped for Rs 40,000 by such a fraudster posing as a customer care executive, using her mobile wallet. The accused had hacked her wallet and siphoned money from it. “The fraudster used the e-wallet to mislead us as he transferred the money to different mobile wallets. During the course of the probe that has been initiated, we found that the money was transferred to different e-wallets registered through phone numbers that were procured using fake IDs. Once the money got deposited to the e-wallets, they were further transferred to different bank accounts. The source of these accounts were traced to Patna, in Bihar,” said an investigating officer of the case from BKC police station.Shubham Singh, Cyber expert says, “For fraudsters, using digital wallets is an easier option because the bank account number obtained gets added to the wallet and the OTP gets generated instantly. Once the OTP is shared, the money gets transferred, and the trail ends.”Don’t give hackers access to your phone:The cyber police officer attached with Bandra Kurla Complex cyber police station says, the more we are being digitised, the more ways cybercriminals are finding to siphon the money.Explaining another modus operandi the police officer says, the victims are lured into the cyber scam through links circulated on WhatsApp. Unassuming users are then led to a fake website which infects their phones with malware and trojans, allowing the scammer to remotely hack the phone and acquires net banking and e-wallets access too. Hundreds of complaints have been lodged in BKC cyber police stations.Verify your account details:In these cases victims get an email supposedly from their bank, or say a payment gateway, asking them to ‘verify the details of their account’ or something like ‘Act now, or your account will be deactivated’ or something as serious as ‘your account has been breached’. The email contains a link; clicking on which takes them to the page of their bank or payment gateway and they are quite easily fooled as the page looks deceptively similar to the original one. On reaching there, a victim is asked to fill in details related to their account, including the account number, password and other sensitive personal information like birthday, address etc. When the miscreants get hold of the account details, they will be armed to siphon with the money.Credit/debit card frauds:Though the Mumbai police and banks have repeatedly warned the citizens to not to share their sensitive banking information to anyone the statistics show that the instances of card fraud are increasing.According to the comparative statistics first four months of 2016 and 17 show, the card fraud is still rising. In first four months of 2016, as many as 171 cases were registered with Mumbai police while in 2017 it is 197 surpassing last year’s cases.Experts say, in these cases, precautions are better than cure as the fraudsters would not be able to do anything unless you share the credentials with them. However elite class has been more cautious about such fraudster callers, the middle class and the lower class have been now targeted by the fraudsters. The callers nowadays have started abusing and threatening the victims when they don’t fall prey for such scams.The detection rate of Cybercrime alarming;As DNA had reported earlier the number of cases solved by the cyber cell have remained consistently low for the last four years, with only 20 percent success rate.Eighty per cent of the cases registered in the year 2016 remains undetected, according to the statistics shared by the cyber cell.On asking about tracking the cyber frauds the senior police officer said,”People should be more aware of the cyber security, we try our best to spread awareness through social media and detect the cyber cases but it has become challenging for us as most of the criminals use foreign servers to remain undetected. We have been continuously working to crack down online frauds and are closing down websites that have been suspicious in nature, but as we close one the other opens up with another name and server,” said a senior officer from the cyber police station.The officer also added that “There is a need to upgrade skilled manpower and technology to help detect cases more swiftly,”Experts advise boxCyber expert Vijay Mukhi says “Cyber crime is rising by an order of magnitude. Going cashless is a great idea but we need a cyber deterrence which India does not have. We have allowed hackers to steal our money without the fear of a jail term.The rate of hacking will grow exponentially over time as hackers all over the world will start stealing our money. The users should be more cautious while using e-wallets and net banking,”Shubham Singh Cyber Expert said, “One should never put their credentials of E-wallets on any gateways or on another platform. Should always use official websites to download any app related banking services and avoid using the third-party application for downloading.””There are several cases of fraud registered, one should never share their credentials with anyone and be pre cautious while using e-wallets and net banking,” said Akbar Pathan, Deputy Commissioner of police(cyber).DosUse official websites for downloading banking app.Use pass lockers for Whatsapp and other messengers to avoid it being hacked.On coming across any suspicious activity, alert the bank and police.Don’tsDo not share your credit/debit card number, PIN and OTP with anyone.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A man armed with fake weapons held a taxi driver hostage for about six hours today at a bank in a small Austrian town. The standoff with police in Erpfendorf, an Alpine town near the German border in Tyrol province, started late today morning. Police said the explosives he claimed to have with him turned out to be fake as was his gun, the Austria Press Agency reported. The bank’s employees were able to leave the building unharmed. After several hours of negotiations, police say the hostage-taker agreed in the late afternoon to free his victim. The kidnapper, a 28-year-old local man, then left the bank himself and was arrested. The victim was a 32-year-old taxi driver who had brought the hostage-taker to the bank. Police official Edelbert Kohler said the two men knew each other. The hostage-taker claimed to have put an explosive belt on his victim, but that turned out to be a belt filled with stones. It wasn’t immediately clear what his motive was.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The CBI has filed an FIR against an official of Bank of Maharashtra for allegedly allowing deposits of demonetised currency notes totalling more than Rs 28 crore post-demonetisation. It is alleged that Rs 28.87 crore was deposited in new benami accounts at the Ambawadi branch of the bank in Gujarat’s Ahmedabad district after November 8, 2016 in violation of rules, CBI spokesperson R K Gaur said here today. The CBI FIR alleged that the money was first moved into these benami accounts before being transferred through RTGS to another account. Branch Manager Bharat Popat has been named as an accused in the FIR along with others. None of the accounts were KYC compliant.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Macedonian police say an employee in one of the largest banks in the country, NLB Tutunska Banka, allegedly stole about 3 million euros (USD 3.1 million) from a vault in the bank’s headquarters. Police said today that the 40-year-old employee, identified only by his initials BS, put the cash into a bag and walked out of the building unnoticed by the bank security guards. Police said in a press release that one person had been questioned in connection with the theft. They did not specify whether the person being questioned was the suspect. Police said no further details could be released because of the ongoing investigation. The theft was reported to police yesterday at the end of the working hours by the bank’s vault manager. AP RC 04112307 NNNN(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>The Bank of England is considering using palm oil or coconut oil in the production of the new 20- pound note, following criticism of the use of animal fats in the plastic 5-pound notes from Hindus, Sikhs and vegetarians. The new 20-pound note is due to be introduced by 2020, but the tender for production has been put on hold, the BBC reported today. The Bank said it was now assessing whether palm oil or coconut oil should be used instead. Hindus, Sikhs, Jains, vegetarians and others in the UK have objected to the tallow used in plastic notes. Tallow is a hard, fatty substance made from rendered animal fat. It is commonly used to make soap and candle. The Hindu Council UK members had met BoE representatives last month to explain that as Hindus see the cow as a symbol of grace and veneration, the use of tallow made from beef fat in the notes went against their beliefs. Meanwhile, the BoE’s new announcement has been opposed by conservation groups, who warned that palm oil production can wreck rainforests and displace people living in them, the report said. “It would depend on where the Bank of England source it,” said Rachel Agnew of the Rainforest Foundation. “Whether it is sustainable is the issue.” Palm oil production was responsible for 8 per cent of the world’s deforestation between 1990 and 2008. Palm oil has been blamed for deforestation in countries like Indonesia. However, in its statement, the Bank of England says it is committed to using sustainable levels of palm oil, should that eventually be chosen for the new notes. It says that the amounts of oil needed are so small that there would be no need for an increase in global production. The BoE has also published an independent report on the separate environmental impacts of palm oil, coconut oil and tallow. Nevertheless the Rainforest Foundation takes issue on how sustainability is certified. Doug Maw, who started a petition about the use of animal fat in the fiver, said he was disappointed by the Bank’s decision to consider palm oil. He met the Bank’s chief cashier, Victoria Cleland, in January to discuss the issue. “In my meeting I highlighted palm oil as something they should avoid doing,” he said. “The destruction of habitat caused by over-production of palm oil is contributing to the near-extinction of the orangutan.” The existing 5-pound plastic note, and the new 10-pound note due for release in September, will continue to use trace amounts of animal fat, the report said. The Bank has said it is not practical to change the way such notes are made.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Bank of Maharashtra (BoM) has filed a case against 50 people, who allegedly cheated the bank by illegally pulling out Rs 6.14 crore from its pool account taking advantage of “lacuna” in the United Payment Interface (UPI) application. “In this case, 70 per cent people who had two accounts, one in Bank of Maharashtra and in another bank, had sent the “receive” money request to their Bank of Maharashtra account, to take advantage of the bug in the UPI application developed by InfraSoft Tech,” said a police officer with the cyber cell. He said generally when a person makes a request of “receive” money from other account and if the person accepts the request, it goes to bank and if there are insufficient funds in the account, the bank sends the message to InfraSoft, stating that there are “insufficient” balance and Infrasoft later sends the same message to National Payments Corporation of India (NPCI) which does not clear the funds. “However, in this case, people who received the money, had sent request of ‘receive’ money to other account holders of BoM (in 70 per cent cases, these people, who had two accounts, one in BoM and other in some other bank) despite knowing that there are no funds in the BoM account and accepted the request,” said the officer. The Shivajinagar police have registered a case under IPC sections 420 (cheating), 120 B (criminal conspiracy) and relevant sections of the Information Technology Act. The cyber cell of Pune Police is now investigating the digital fraud, which took place between December 1, 2016 and January 18, 2017. The UPI allows account holders across banks to send and receive money from their smartphones without entering bank account details. (MORE)(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Odisha government has transferred Rs 4,579 crore in the bank accounts of farmers for procurement of over 31 lakh ton of paddy, the Assembly was informed today. “A total of Rs 4,579 crore has been transferred by the state government to the bank accounts of farmers for paddy procurement,” Food Supplies and Consumer Welfare Minister Sanjay Dasburma said. Altogether 31,14,789 ton of paddy has already been procured till date, which is more than the set target of 30 lakh ton, though the procurement deadline is ending in April, he said. Dasburma said that there was no problem in paddy procurement. Opposition members and a section of treasury bench MLAs also drew attention of the government to several irregularities being faced by the farmers while going to mandis. “The MLAs should take the responsibility to ensure hassle-free paddy procurement in their localities,” the minister said. The members also raised the issue of distress sale of vegetables due to lack of storage and marketing facilities.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>An employees union functionary of a co-operative bank here has lodged a police complaint alleging that a top official had issued a death threat to him for protesting against alleged irregularities in the bank. In the complaint filed on behalf of the union, South Canara District Central Co-operative (SCDCC) Bank Employees Union office-bearer Chandraprakash said the bank official summoned him to his chamber and gave the murder threat since the union was raising the alleged irregularities in the bank. City police commissioner M Chandra Sekhar said that legal opinion would be sought before registering a first information report on the basis of the complaint. The SCDCC bank had been in the news recently on account of allegations of accepting crores of rupees worth of scrapped high value notes during the demonetisation exercise without following the procedures. The Income Tax officials had conducted a search in the bank last month following the reports.(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)
<!– /11440465/Dna_Article_Middle_300x250_BTF –>One person has been arrested from Pratapgarh in Uttar Pradesh in connection with a South Delhi ATM dispensing fake Rs 2000 note. According to reports, the person is employee of the company responsible for putting filling up cash in the ATM. Earlier on Thursday, the government said that it will investigate reports of an SBI ATM in South Delhi dispensing fake Rs 2,000 notes and will take all possible steps to control generation of counterfeit currency. Minister of State for Finance Santosh Gangwar said the government is not perturbed by the stray incident of fake 2,000 rupee notes bearing ‘Children Bank of India’ being dispensed from a State Bank of India ATM in South Delhi’s Sangam Vihar. “The government will investigate the matter. Fake currency should not come out of ATM. If there are reports in newspapers, then it will be investigated,” he told reporters here.Yesterday, SBI, the nation’s largest lender, had stated that “the possibility of fake notes from the bank’s ATMs is very remote” and it “suspects involvement of some miscreants with mischievous intent”. “The government is taking measures to control fake currency generation. Some people are trying to create problem in the country. We will be able to say (who they are) only after investigation,” Gangwar said. He said SBI’s claim of fake currency being introduced during transportation of bank notes by third parties will be investigated. The government, the minister said, is not worried by the stray incident, but will investigate the matter fully.SBI has said it has in place “a very robust system for monitoring the quality of notes” at all its currency chests. “All notes received by the bank and to be dispensed by the bank, either through its ATMs or its branches, are processed through the latest state-of-the-art Note Sorting Machines,” SBI had said in a statement on Wednesday.
Fri, 13 Jan 2017-04:16pm , Srinagar , ANI
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Several shops, buildings of two banks and a post office were gutted in fire in Jammu and Kashmir’s Srinagar on Friday morning.The bank branches are of Punjab National Bank and Vijaya Bank were ablaze. A massive fire broke out on Court road, near Lal Chowk.As many as 18 fire tenders have been rushed to the spot to douse the flame.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>Villagers, who were agitated after the banks allegedly refused to dispense enough cash, protested by pelting stones at a bank branch, locking office of another bank and blocking a state highway in three separate incidents in Gujarat on Saturday, police said.At Khimana village in Shirohi taluka of Banaskantha district, angry account holders pelted stones at the branch of Dena bank alleging that it refused to give money citing cash limit. Police resorted to lathicharge to control the crowd, a police official said. “Some account holders started creating ruckus outside the bank branch after complaining that it was not giving cash despite a long wait,” said Banaskantha Dy SP Umesh Patel.”Soon villagers gathered outside the branch and started pelting stones. Police resorted to mild lathicharge. At least two police officials received minor injuries in the incident. As a precautionary measure, the bank was locked from outside so that no bank officials were hurt,” Patel said.He said no FIR was lodged yet in this connection but police are investigating the matter. In a similar kind of incident, angry account holders locked the branch of Bank of India at Modhwada village in Porbandar district after complaining that the bank refused to give them money despite standing in queue for hours, police said.Later police reached the village and brought the situation under control, officials of Porbandar police control room said. Agitated account holders at Dhrol town and nearby villages of Jamnagar district resorted to blocking of a state highway for some minutes disrupting traffic alleging that banks in their area were not giving them money. “Angry villagers blocked a Dhrol-Rajkot highway near Dhrol in Jamnagar district for several minutes before police were rushed to remove them from the road and clear the traffic,” a police official of Dhrol police station said.
<!– /11440465/Dna_Article_Middle_300x250_BTF –>A farmer in Madhya Pradesh’s Sheopur district was shocked to receive Rs 2,000 currency notes without the image of Mahatma Gandhi from a branch of a public sector bank. Laxman Meena, a farmer from Bichchhugawadi village, received three notes of Rs 2,000 when he withdrew money from the bank’s branch at Baroda town in Sheopur. “I was given three notes of Rs 2,000 on withdrawal from my account on Tuesday (December 3). I later found that there was no image of Mahatma Gandhi on those,” Meena told PTI over phone today. “I was in the market when I discovered that there was no picture of Mahatma Gandhi on the notes. I then went to the bank and and showed it to the manager,” he said.Meena said the branch manager told him to deposit those notes. “Initially, the manger told me that I must have examined the notes on receiving them. Later, he, however, told me to deposit the notes and get them replaced,” the farmer said. The bank manager also clarified to him that the currency was genuine and there might have been a printing error. Meena said the bank replaced the notes yesterday. Meanwhile, the in-charge branch manager of the bank told PTI over phone that he has sent the information to the lead bank manager of the district. “I have nothing more to say. I have already submitted the information in this regard to the lead bank manager,” he said.Here’s how Twitter reacted to ‘missing Bapu’: