-The Hindu Infamous as Jharkhand’s hub of online frauds, the tiny district now has 45 public libraries diverting youth away from cybercrime BHUBANESWAR: The library movement in Jharkhand’s Jamtara district got off to a flying start with public libraries developed in a short span of time receiving a steady inflow of students from different age groups. Jamtara’s love for books assumes huge significance as it has the dubious distinction of being the “phishing...
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An Expert Explains: Cyber Frauds trying new ways, it’s important to secure data, accounts -RK Vij
-The Indian Express A few people are attempting novel ways of defrauding innocents using information and technology. Money is being siphoned off using fake accounts and exploiting vulnerabilities of various applications. The COVID-19 outbreak presents a global challenge not just for the medical fraternity and society, but for law enforcement agencies also. Cyber crime, like a pandemic, knows no state borders. A few people are attempting novel ways of defrauding innocents using...
More »Banks lost Rs 41,167 crore to fraud in 2017-18: RBI -George Mathew
-The Indian Express There were 5,917 instances of bank fraud in 2017-18 as against 5,076 cases the previous year, show the data released Friday. Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of bank...
More »What Ails CAG, and What Can Be Done? -BP Mathur
-Centre for Financial Accountability blog The institution of Comptroller and Auditor General (CAG) in India is patterned on the British model. In Britain, The Exchequer & Audit Department Act of 1866 created the office of CAG with a view to strengthen democracy and exercise parliamentary control over national finances. The office of CAG came into being, thanks to the missionary zeal of William Gladstone who was Finance Minister at the time...
More »Norms to protect customer in fraudulent transaction soon: RBI
-PTI MUMBAI: Reserve Bank will soon come out with final guidelines on customer protection which would limit customers liability in case of unauthorised electronic banking transactions, RBI deputy governor S S Mundra said on Tuesday. Last year in August, RBI had issued draft circular on limiting liability of customers in case on fraudulent banking transactions, resulting in debits to their accounts or cards. RBI had asked comments and suggestions on the same. "Based...
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