CVC reconstitutes advisory board to check commercial frauds

Last Updated: Sunday, May 27, 2012, 13:51

The Central Vigilance Commission has reconstituted an advisory board with the inclusion of two new members to assist the CBI in probing cases related to bank, commercial and financial frauds.

Police arrests five for bank fraud

Last Updated: Friday, April 27, 2012, 20:51

Police on Friday arrested five members of a gang, including a bank employee, involved in fraudulent withdrawal of money from different banks through fake cheques.

Ex-Iceland PM guilty on one charge over bank fraud

Last Updated: Monday, April 23, 2012, 23:31

A special court found ex prime minister Geir Haarde guilty on one count over the collapse of Iceland`s banks in 2008.

US sues Royal Bank of Canada for massive fraud

Last Updated: Tuesday, April 3, 2012, 10:59

US regulators announced charges against Royal Bank of Canada, accusing the major Canadian bank of "washing" hundreds of millions of dollars through fraudulent trading.

32 stand trial over Iran's biggest bank fraud

Last Updated: Saturday, February 18, 2012, 23:19

The charges involve the use of forged documents to get credit at one of Iran's top financial institutions to purchase assets.

AIBOA seeks intervention in "murky" affairs of DLB

Last Updated: Saturday, February 11, 2012, 19:30

The All-India Bank Officers' Confederation on Saturday urged the RBI, the Finance Ministry, the Centre and the Kerala Government to intervene urgently in the "murky" affairs of private sector Dhanalakshmi Bank.

Sixteen booked for bank fraud in Beed district

Last Updated: Wednesday, December 7, 2011, 13:19

Sixteen persons, including several office-bearers of the Beed District Central Cooperative Bank (BDCCB), have been booked for the alleged fraud.

Citigroup to pay $285 mn in fraud case

Last Updated: Thursday, October 20, 2011, 00:20

Citigroup Inc will pay USD 285 million to settle charges that it defrauded investors who bought toxic housing-related debt that the bank bet would fail, the US Securities and Exchange Commission said on Wednesday.

95-year-old man becomes victim of bank fraud

Last Updated: Sunday, October 9, 2011, 21:59

Having spent decades serving top positions in banks, a 95-year-old was in for a shock when Rs 23 lakh was found fraudulently withdrawn from his account.

UBS retreat signals rapid drop from bank top flight

Last Updated: Wednesday, September 28, 2011, 12:02

UBS faces a brutal shrinkage of its investment bank after dropping its ambition to be a major global player in favour of a plan to focus on its core wealthy clients.

UBS details rogue trades that lost bank $2.3 bn

Last Updated: Sunday, September 18, 2011, 21:32

Swiss bank UBS said on Sunday it had lost USD 2.3 billion from unauthorised speculative trades in various equity futures it discovered on Wednesday and has now covered the resulting risk with its equities business again operating normally.

Ex-Citigroup VP admits embezzling over $22 million

Last Updated: Wednesday, September 7, 2011, 10:43

A former vice president for Citigroup Inc pleaded guilty on Tuesday to embezzling more than USD22 million from the company and funneling the money to his personal bank account.