Explore the latest news, in-depth reports, and executive analysis tagged with #Fraud.
Capillary added it has recovered around Rs 4.9 crore and has identified additional funds while securing the freezing of related bank accounts.
The development comes just a week after Meta announced a nearly $900 million investment in Indian fintech startup CRED and appointed its founder, Kunal Shah, as the new global head of WhatsApp.
The agency has arrested Worldline India EVP for allegedly facilitating transactions linked to the Falcon Invoice Discounting fraud.
As part of the investigation, ED has frozen 129 bank accounts containing balances of Rs 18.4 crore.
The platform's secretariat will be jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
May 2026 saw the CLARITY Act advance in the US, Europe tighten MiCA implementation, India step up crypto policy discussions, and a string of high-profile fraud, sanctions and geopolitical investigations.
The development comes days after the CBI conducted searches across multiple locations in Chandigarh and Panchkula, seizing financial documents and digital evidence linked to the alleged scam.
The ED also alleged that the gaming company used bots to play games against users without their knowledge, causing losses of about Rs 1,154 crore to players.
The RBI has invited public feedback on the proposal until early May.
RUGR and IppoPay are now part of the wider investigation into suspected GST violations tied to a high-value online betting case.
The initiative includes a round-the-clock WhatsApp helpline where users can flag suspicious links, platforms, or investment offers before acting on them.
The founders were apprehended last week on March 21 from Bengaluru and produced before a holiday court in Thane for alleged fraud.
The defrauded funds were quickly moved through multiple mule bank accounts, or routed through wallet top-ups on overseas fintech platforms, particularly Pyypl.
Customers who lose up to Rs 50,000 in fraudulent transactions could be eligible to receive up to Rs 25,000, or 85% of the net loss, whichever is lower.
The Enforcement Directorate found that fraudsters laundered Rs 285 crore through an elaborate network of temporary bank accounts.
An international gang, which was operating from Dubai, China, Hong Kong, and the Philippines, was behind the hacking.
The initiative will operate as a nonprofit entity with authorized funding of Rs 500 crore and initial working capital of Rs 200 crore.
The country has proven its ability to build and scale payment infrastructure at record speed. The bigger test now is whether it can replicate that success in security...
MobiKwik has already recovered Rs 14 crore. An FIR has been filed and over 2,000 merchant bank accounts have been frozen.
The Gurugram-based fintech claims that the employee embezzled the funds from August 2023 to September 2024 by altering merchant details.
