Risk Management Association of India
Global body dedicated to education, research and development on Risk Management
Rs.82000 crore bank frauds reported: As per RBI data, 12 PSBs (Public Sector Banks) had reported frauds worth Rs 81,921.54 crore (approximately Rs.82,000 crore) in preceding fiscal 2020-21. This data was revealed on the basis of the Right to Information (RTI) Read More …
Fraud is a major problem for businesses. However, it’s also an issue that’s growing, complicated and often very misunderstood. With fraudsters looking to exploit Covid-19 through pandemic-related scams, it’s only been in the past year or two that I’ve observed Read More …
During the COVID-19-induced lockdowns, digital modes of payments have seen a lot of traction. Customers benefit from digital payments because they make financial transactions easier. However, this also invited many fraudsters to make use of gaps and dupe the customers Read More …
Money laundering, automated clearing house fraud and wire transfer scams are running rampant in the banking industry. U.S. financial institutions spent more than $4.5 billion on fraud detection systems in 2021 as continuous threats around real-time payments emerged in the Read More …
In India, technology has transformed financial services and has given rise to a whole new industry, popularly addressed as fintech. This industry has witnessed phenomenal growth in India and across the globe in the past few years. According to Inc42data, between Read More …
Since the pandemic struck, the fraud wave is on the rise. In the UK, for instance, consumers lost more than £2.3bn in a year from 2020 to 2021. It was a surge of 33% in fraud cases reported to the national anti-fraud Read More …
While shopping online, consumers regularly hand over their personal and financial data, so retailers should protect their domains from unauthorized use. If they don’t, their domains could be used in business email compromise (BEC) attacks, phishing emails, email scams and Read More …
Recently, the customs department has received many complaints about where people have been duped of their money in their officers’ name. The fraudsters have been cheating the general public through social media platforms, impersonating customs officials and promising them to send parcels of various Read More …
As we round out another year, the world continues to be filled with uncertainty. Issues such as volatile economic markets, inflation, supply chain snarls and new variants of the Covid-19 virus are dominating the headlines. Fraud and cyberattacks are also Read More …
Covid-19 has forever changed the way consumers shop, creating a strong desire for digital payments and the rapid shift towards ecommerce. Recent data from Australia Post marked November 2021 as the largest month in Australian online shopping history, a significant Read More …