#Fraud

.Hong Kong
The woman was told she needed to transfer money to Chinese public security officials. (Photo Credit: Representational/ Unsplash)

  • The woman gave $32 million to the scammers, the largest sum recorded yet by a phone con
  • Police said the scam was spotted by the elderly lady's domestic helper
  • A 19-year-old was arrested for fraud and has been released on bail, police said

.New Delhi, Delhi, India
Banks have been asked to enhance their safety norms for ATMs through end-to-end encryption. (Photo Credit: Representational Image/Pixabay)

  • Investigations show that fraudsters tamper with LAN cables of the ATM
  • CERT data shows that 2,90,445 digital banking frauds were reported in 2020
  • There has been a 46% rise in digital transactions in 2019-20 in comparison to 2018-19

.London, UK
Nirav Modi was arrested on an extradition warrant on March 19, 2019 in London. (PTI File Photo)

  • UK's Secretary of State Priti Patel cleared Modi's extradition
  • Unless there is an appeal, a requested person must be extradited within 28 days, UK government's offical website states
  • Nirav Modi  fled to the UK after being charged for fraud worth Rs 13,000 crore 

.Los Angeles, CA, USA
Zach Avery, whose real name is Zachary Horwitz, is described by the Los Angeles Times as "a small-time actor". (Photo Credit: Representational Image/Pixabay)

  • Zach Avery was arrested in Los Angeles by the FBI for masterminding a Ponzi scheme
  • He told investors his company would buy film distribution rights and license them to Netflix and HBO
  • Officials said his scheme had raised more than $690 million

.Washington D.C., DC, USA
The campaign sent out email requests as their key method of attracting donations. (Photo Credit: AP/PTI)

  • 11% of the money raised by campaign was given back 
  • Trump campaign refunded an average of $720,000 daily in December
  • Biden campaign's refund rate was 2.2% in 2020

.Menlo Park, CA, USA
Facebook has around 2.6 billion users worldwide. (Photo Credit: Unsplash)

  • Around 533 million users were victims of this privacy breach
  • Fragments like locations, birthdates, Facebook IDs and email address have been leaked
  • Around 32 million users have been recorded from US while India accounts for 6 million

.Nanterre, France
Swagg Man has a number of probes underway in both France and Tunisia. (Photo Credit: Instagram/@theswaggmantv)

  • Swagg Man, whose real name is Iteb Zaibet, was arrested in July 2019
  • He was handed a 5-year prison sentence for a separate fraud and money laundering case on Monday
  • Authorities seized nearly $6 million from his accounts

Online fraud has become one of the most prominent menaces of the cyberspace at present. (Photo credit: Representative image/Unsplash)

  • Fraudsters use various mechanisms to dupe individuals and institutions off
  • Some of the popular ways are phishing, malwares, social media fraud etc
  • As per reports, Phishing is one of the most common ways at present for scammers

.New Delhi, Delhi, India
Online banking or online transactions have become a part of our daily lives. (Photo credit: Unsplash)

  • As online banking gained popularity, hackers, too, adapted and stepped up their game
  • One of the elementary ways to keep details secure is to have
    your bank account details hidden
  • Steer clear of public or free Wi-Fi. Your device is prone to data transmissions and malicious hotspots

.Washington D.C., DC, USA
Elizabeth Holmes studied chemical engineering from Stanford University. (Photo Credit: AFP)

  • Elizabeth Holmes was declared the world's youngest female self-made billionaire in 2014
  • Her biotech company, Theranos, was valued at $9 billion at its peak 
  • Her highly-anticipated criminal fraud trial has already been delayed thrice by the coronavirus pandemic