Corporate Law : Fraud in India's power & infrastructure sector remains rampant. Learn how Kautilya’s principles expose embezzlement tactics & ho...
CA, CS, CMA : Explore fraud indicators in PSU and Government contract audits, including billing fraud, bribery, kickbacks, change order abuse, c...
CA, CS, CMA : A client was scammed by a fraudster posing as VRL Logistics. Learn how to spot and avoid such scams to protect your business from ...
CA, CS, CMA : Explore fraudulent financial reporting, its impact on stakeholders, methods of detection, and prevention strategies....
Income Tax : In India, tax manipulation is a serious topic that involves both tax evasion and tax avoidance. Tax evasion is a criminal activity...
Finance : Government responds to rising QR code frauds, highlighting initiatives and awareness campaigns to safeguard digital payments in ru...
Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...
Corporate Law : SFIO investigates 36 corporate fraud cases in the past 3 years, with 41 cases filed and 25 convictions. MRAU enhances fraud detect...
Corporate Law : Delhi Police Cyber Crime & CEIB warn against fake emails alleging child pornography & cyber crimes. Stay vigilant & report any sus...
Corporate Law : An urgent alert from Indian Cyber Crime Coordination Centre (I4C) about counterfeit emails impersonating its CEO. Learn how to rec...
Income Tax : Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section...
Goods and Services Tax : Supreme Court's ruling in Sheetal Mittal vs. State of Rajasthan, where anticipatory bail was denied due to fabricated GST number a...
Corporate Law : HC held that domain name https://india-mart.co/ shall be immediately blocked. MeitY/DoT to issue blocking orders within 24 hours f...
CA, CS, CMA : Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the A...
CA, CS, CMA : CBI Vs. Devendra Chaturvedi (Special Court for CBI at Greater Bombay) In nutshell, it is the allegation against accused that they ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Fema / RBI : Fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit...
Fema / RBI : It is reiterated that all Concurrent Auditors are required to:- To cross verify that all outbound SWIFT messages vis-a-vis their c...
Fema / RBI : There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab Nat...
Citibank fraud under RBI scanner too Realising the magnitude of the Citibank fraud estimated at Rs 300 crore, the Reserve Bank of India today said it will go into the entire gamut of the scam, even as it is being looked into by market regulator Seb
The alleged mastermind of Rs 300 crore Citibank fraud, Shivraj Puri, invested most of the funds raised from corporate entities and high networth individuals in derivative instruments in stock markets.
: A senior executive of the Hero Group was arrested by Gurgaon police on Monday as the investigative net on the Rs. 300 crore fraud at the local branch of Citibank was cast wider. The arrest of Sanjay Gupta, associate vice-president of Hero Corporate
Even as the Munjal family-run Hero Group clarified on Friday that its exposure to the Citibank fraud was a tenth of what has been reported so far, police investigators are widening the scope of the inquiry to probe both the clients as well as
U.S. bank Citigroup said on Tuesday it was investigating a set of suspicious transactions based on what it said were forged documents by an employee at a branch in India. The bank did not say how much money was involved, but a person familiar with th
US prosecutors are poised to file civil fraud charges against Ernst & Young for its alleged role in the collapse of Lehman Brothers, saying the accounting firm stood by while the investment bank misled investors about its financial health, according
Commonwealth Games overlays suppliers — questioned by Income Tax investigation in connection with irregularities in Games contracts — have alleged that an average 15% commission was paid to Organising Committee officials, besides payoffs to project e
Income tax commissioner B P Singh has landed in a soup and could even be arrested. He has been charge-sheeted for fraudulently using official letter pads of over half-a-dozen sitting MPs and MLAs and forging their signatures to lodge bogus complaints
Effective use of technology for in-house audit processes could help prevent accounting fraud in a company, as it will be easier to monitor the flow of data online, says global consultant PricewaterhouseCoopers. A new PwC report, `2010 Internal Audit State of the Productivity of the Profession Survey’, said that about 48 per cent of Indian companies lack skill and knowledge of data tools used in internal audit softwares, while 18 per cent have no access to these tools.
Twenty-year old Sharma did not know that a small negligence in keeping track of his credit would mean a bill of Rs 18 lakh, especially, since his credit limit was only Rs 55,000. A call, however, to the customer support of the bank confirmed the amount.Sharma swung into action immediately and filed a police complaint. He even informed the issuer about the unfortunate event.
