Standard format for reporting bank fraud cases on anvil

Last Updated: Sunday, June 28, 2015, 15:40

"Information received from the banks are highly unstructured which makes mining of data contained in the statements very difficult. They also use different narrations for debit and credit entries which are sometimes very cryptic in nature, making it difficult to decipher the nature of transactions and hence the money trail," an official said.

Frauds worth Rs 11,022 crore detected in PSU banks in Apr-Dec

Last Updated: Sunday, March 22, 2015, 13:25

PSU banks have reported over 2,100 fraud cases involving a sum of Rs 11,022 crore in the first nine months of the ongoing fiscal, with PNB reporting the maximum number of such instances.

CBI arrests Deccan Chronicle Chairman T Venkatram Reddy over bank fraud

Last Updated: Saturday, February 14, 2015, 23:39

The Chairman of a Hyderabad-based English daily Deccan Chronicle T Venkatram Reddy was Saturday arrested by CBI in connection with alleged default of Rs 357 crore loan from Canara Bank.

Three held for forging documents to secure housing loan from bank

Last Updated: Saturday, June 29, 2013, 21:21

Three persons, including a married couple, were arrested for allegedly using forged documents to secure home loan worth Rs 1 crore from a private bank.

CBI raids eight locations in Odisha for bank fraud

Last Updated: Thursday, May 23, 2013, 20:11

CBI teams on Thursday raided eight places in Odisha to investigate a Rs 13 crore fraud in a regional bank where gold loans were allegedly given against imitation jewellery.

Delhi-based family booked for cheating

Last Updated: Sunday, April 14, 2013, 20:27

A Delhi-based family was booked on Sunday for allegedly cheating a corporation bank by submitting "forged" documents to take a loan to the tune of Rs 22 crore, police said here.

Two held in Rs 3.13 cr bank fraud in Kota

Last Updated: Friday, March 1, 2013, 20:01

Four months after a couple allegedly cheated a nationalised bank of Rs 3.13 crore, police have arrested two persons who had acted as guaranteers to help them secure the loan.

Pak politician drags Deutsche Bank to court for alleged fraud

Last Updated: Saturday, January 19, 2013, 18:36

A former Pakistani minister has dragged Deutsche Bank to court, alleging it defrauded him by first promising them an attractive investment and loan package and later changing the deal.

Banks report fraud cases involving Rs 6,457 crore in 2012

Last Updated: Thursday, November 29, 2012, 18:14

Indian Overseas Bank (IOB) reported fraud cases involving an amount Rs 758 crore so far in 2012, followed by Punjab National Bank (PNB) which reported fraud cases involving an amount Rs 728 crore.

‘Two Indians involved in $935-mn Kabul Bank fraud case’

Last Updated: Wednesday, November 28, 2012, 22:18

Fraudulent lending and embezzlement by officials, including at least two Indian citizens, led to failure of Afghanistan's Kabul Bank resulting in misuse of about USD 935 million Afghan public money, according to an independent report released on Wednesday.

Banks need not report attempted frauds of above Rs1 crore to RBI

Last Updated: Thursday, November 15, 2012, 21:34

The Reserve Bank on Thursday asked banks to discontinue the practice of reporting attempted fraud cases involving Rs 1 crore or above to its Fraud Monitoring Cell.

Know how to keep your bank account safe

Last Updated: Wednesday, November 14, 2012, 19:05

Many banks in London are imposing sneaky terms and conditions to allow them to block compensation to innocent victims of chip-and-pin or Internet fraud.