Fraud Briefing
A curated intelligence snapshot of fraud incidents, regulatory actions, and emerging threat patterns detected in the past 24 hours across India's BFSI sector.
Regulatory and Compliance
1 itemThe Enforcement Directorate filed prosecution complaints in two separate PMLA cases: one against Reliance Infrastructure Limited over an alleged diversion of Rs 187 crore from NHAI toll-road projects through shell companies and fictitious diamond exports, and a supplementary chargesheet against Reliance Communications Limited (RCOM) for evergreening loans and siphoning funds to group companies. Proceeds of crime in the RCOM case are quantified at Rs 40,185 crore, with Rs 8,078 crore in assets already attached.
New Fraud Typologies and Scams
0 itemsInstitutional Impact
2 itemsCBI filed four separate supplementary charge sheets against four Union Bank officers, Himanshu Agarwal, Kapil Dev Singh, Rajab Pasha, and Vijay Kashyap, in a CBI special court. Loans worth Rs 12 crore were sanctioned on fraudulent documents between 2018 and 2023, with funds routed to vendor and broker accounts instead of beneficiaries. Next hearing is August 31, 2026.