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 conducted PMLA search operations across 26 locations in Delhi, Chandigarh, Panchkula, Mohali, and Ludhiana targeting promoters of Tirupati Infraprojects Pvt Ltd and affiliates in connection with an alleged Rs 290 crore bank fraud tied to a New Delhi hotel project.
New Fraud Typologies and Scams
1 itemCybercriminals paid recruits to open corporate, current, and trust accounts, housing them in hotels while installing ZNPAY and SMS-forwarding APKs to bypass two-factor authentication. Packaged accounts with net-banking credentials and SIMs were sold to scam networks active across Karnataka, Maharashtra, and Delhi.
Institutional Impact
2 itemsThe ED sealed three floors of the Greater Mohali Area Development Authority headquarters and seized mobile phones of senior engineering and estate officers. Investigators are probing undue gains exceeding Rs 100 crore in land allotments linked to the Rs 290 crore bank fraud.
Sources
- 1.ED raids 26 places in Delhi, Chandigarh, Haryana and Punjab in money laundering case linked to Tirupati Infraprojects Pvt Ltd
- 2.ED raids GMADA office in Mohali, seals 3 floors; records of Remigate, other cases seized
- 3.Bengaluru cyber crime police arrest three in Rs 93.58 lakh online trading fraud; 507 mule accounts seized
- 4.Bengaluru Police arrest three in online trading fraud mule account network