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
2 itemsThe Enforcement Directorate conducted searches across 16 premises in Kolkata, Delhi, and Bengaluru under FEMA, probing suspicious fund movements and foreign exchange violations used to acquire McNally Bharat Engineering Company Ltd during insolvency resolution.
New Fraud Typologies and Scams
2 itemsPolice dismantled a telecom gateway operating 2 SIM box devices with 77 antennas and 114 Airtel SIM cards in Udham Singh Nagar. The setup disguised incoming VoIP calls from cyber fraudsters in Bangladesh as domestic Indian calls, enabling large-scale digital arrest scams and official impersonation.
Institutional Impact
2 itemsInvestigators are scrutinizing whether disqualified promoters used overseas corporate structures to bypass IBC Section 29A restrictions and reacquire McNally Bharat Engineering Company Ltd via insolvency proceedings.
Sources
- 1.ED raids 16 places in Kolkata, Delhi, Bengaluru in FEMA case allegedly linked to McNally Bharat Engineering Company Ltd
- 2.ED raids multiple locations in Kolkata
- 3.Uttarakhand STF busts illegal telecom gateway, arrests 24-year-old
- 4.STF busts illegal SIM-box telecom gateway in Udham Singh Nagar
- 5.UP STF nabs swindler who lured investors via social media to spend crores in stocks and IPOs