Central Bureau of Investigation

Fraud, Scams & Cybercrime

Indian Billionaire Arrested in London over $2bn Bank Fraud

By Editors | 22/03/2019

India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.

Anti-Money Laundering

India Launches Money Laundering Probe Against Former ICICI Bank Chief

By Editors | 03/02/2019

India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.

Anti-Bribery & Corruption

NSE Chairman Resigns Amid Bribery Probe

By Editors | 14/01/2019

NSE chairman Ashok Chawla was named in a charge sheet related to a bribery case involving telecom operator Aircel and its Malaysian investor Maxis.

Fraud, Scams & Cybercrime

UPDATED – Indian Banks Fall Victim to $342mn in Loan Frauds

By Editors | 23/03/2018

Jewellery chain falsified financial records to obtain 8.24 billion rupees in loans from 14 banks over 10 years; infrastructure firm defrauds 9-bank consortium of 13.94 billion rupees.

Fraud, Scams & Cybercrime

Indian Banks Seek Forensic Auditors Amid Fraud Fears

By Samuel Riding | 12/04/2017

Association says auditors should have at least 10 years experience for the largest suspected frauds.

Anti-Bribery & Corruption

RBI Officials Arrested for ‘Unauthorised Money Exchange’

By Samuel Riding | 19/12/2016

Two officials said to have given away new notes amounting to almost $300,000.

Fraud, Scams & Cybercrime

RBI Considering Inter-regulatory Provisions in Bank of Baroda Case

By Samuel Riding | 29/10/2015

Reserve Bank of India began investigation on 12 October into remittances for allegedly non-existent imports.

Anti-Money Laundering

Indian Banks Face Scrutiny for Disclosure Lapses

By Editors | 21/10/2015

Several listed banks have come under the scrutiny of the Securities and Exchange Board and stock exchanges for violations of disclosure norms for listed firms.