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PNB fraud case shouldn't lead to 'fear psychosis' in financial system, chill economic activity, says …

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Today’s Fraud News from around the world:

PNB fraud case shouldn't lead to 'fear psychosis' in financial system, chill economic activity, says …: Mumbai: The government and the Reserve Bank of India should make sure that the Rs 13,000-crore PNB scam does not lead to a "fear psychosis" in the financial system which chills economic activity in the country, a prominent industry lobby has said. Emergence of the scam should not lead to a …: Google Alert – Fraud

£1million Grenfell fraud investigation underway after 15 people claimed they lived in ONE flat: FRAUD investigators have been called in after a 15-person family who received up to £1million in public aid and three new homes claimed they all lived in Grenfell Tower. A "cash-for-crash" faker Masi Naqshbandi is part of the family who have been rehoused in luxury flats in Kensington, West London.: Google Alert – Fraud

Female prisoners on rise due to national crackdown on fraud crimes: A blitz on welfare cheats is at the heart the boom: while female prisoners represent just eight per cent of the overall prison population, a whopping 28.7 per cent of inmates are serving time for fraud. The push to catch social-security scammers has seen the government agencies hire private detective to …: Google Alert – Fraud

PNB fraud overreaction may hugely hurt credit flow: Assocham: Overreaction by banks and investigative agencies to the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) which came to light last month could hurt essential credit disbursement to trade and industry, tempering growth expectations, industry association Assocham said on Sunday.: Google Alert – Fraud

PNB fraud: Ficci warns against fear psychosis in financial system: He, however, answered in the negative when asked if scams involving Nirav Modi or the over Rs3,500 crore fraud involving Rotomac Pens' promoter are akin to the emergence of corruption allegations faced by the Manmohan Singh government in its final years. Speaking to PTI, a top official from one of …: Google Alert – Fraud

PNB-Nirav Modi fraud: RBI initiates special audit of banks with focus on trade finance: New Delhi: Rattled by spate of banking frauds, the Reserve Bank of India (RBI) has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of letters of undertaking (LoUs) by them, banking officials said. In addition, the RBI has asked all banks …: Google Alert – Fraud

Evans Mills woman admits to welfare fraud: WATERTOWN — In Jefferson County Court on Friday, an Evans Mills woman admitted to receiving public benefits she was not entitled to between March 2016 and August 2017. Jessica L. Jones, 29, pleaded guilty to fifth-degree welfare fraud, a misdemeanor, was sentenced to a one-year conditional …: Google Alert – Fraud

PNB fraud: RBI initiates special audit of PSBs with focus on trade finance: NEW DELHI: Rattled by spate of banking frauds, RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially … Also, in the Bank of Baroda fraud case of 2015, two Delhi-based businessmen cheated it of Rs 6,000 crore by using the trade finance mechanism.: Google Alert – Fraud

Uber driver frauds: It also allows a single driver to perform click fraud with multiple accounts, using hacked New York Post. Some even said they were from Uber. Here's my experience. Nov 13, 2017 Lagos Some Uber drivers in Lagos have been using a fake GPS itinerary app to illicitly bump up fares for local riders. May 08 …: Google Alert – Fraud

DPP declines to take up NUW fraud case against Derrick Belan: The Director of Public Prosecutions has refused police requests to prosecute the former NSW head of the National Union of Workers, Derrick Belan, over $ 440,000 in alleged union fraud, leaving him to face a potentially lesser sentence. The NSW DPP returned the major union fraud case to police …: Google Alert – Fraud