Vivek Srivastav

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PNB fraud takeaway: Financial audits at banks must be beefed up by systems' check by tech experts

It is now universally acknowledged that banks, more than other businesses, lend themselves to technology-led operations, often rendering human …

India State Banks' Bailout Stumbles As Losses Mount

When the government announced a surprise $32 billion bailout plan for the nation's state-controlled banks last October, credit rating firms and the …

Nirav Modi diverted Rs 4,299 crore to himself, family and firms: ED in court

According to the ED probe, Modi diverted $265 million (Rs 1,811 cr) to his Group firms, his sister Purvi Modi and her husband Maiank Mehta through …

Exclusive: In unravelling Nirav Modi's PNB moves, fresh evidence shows lender is playing the victim card

<b>New Delhi:</b> Investigation in the Nirav Modi and Mehul Choksi case appears to have been picking up steam in the past two weeks and Punjab National Bank …

Regulator Unearths $7 Billion of Bad Loans at Big Indian Banks

Bad loans at India’s five biggest state-run banks were about 456.8 billion rupees ($6.8 billion) more than the lenders had assessed.<p>Audits by the …

UBI posts net loss of Rs 260.62 cr in Q4

Kolkata, May 28 (IANS) State-run United Bank of India (UBI) on Monday reported a net loss of Rs 260.62 crore in the quarter ended March 31, due to …

21 PSBs lost Rs 25,775 crore to frauds in FY18

<b>New Delhi:</b> Twenty-one public sector banks have lost a total of Rs 25,775 crore due to banking frauds in 2017-18, a Right to Information (RTI) reply …

Banking Sector Scams, possible solutions: Incentivising integrity, strong whistleblower law

One does hope that the legal system will address its own deficiencies and we wont see another display of public anguish from those who are tasked …

Bank fraud shows failure of controls, says fraud expert

MANILA - Large cases of bank fraud point to a 'catastrophic' failure of the bank's most basic internal controls or a conspiracy among senior …

DNA Edit: Bank Fraud

When it rains, it pours. Already embattled with a mounting pile of toxic loans, the Indian banking domain finds itself in a new spot of trouble — one …

17,504 Cases of Bank Fraud Reported Between 2013-2017: RBI Data

One bank official is held for fraud every four hours in a public sector bank (PSB), an analysis of data compiled by <i>The Times of India</i>, based on a …

BRIEF-India's Enforcement Directorate Says Attaches Assets Worth 1 Bln Rupees Of Rei Agro Ltd In A "Bank Fraud" Case From 2015

<i>0</i><p>Recent Alerts<p>Sign up to create alerts for Instruments, Economic Events and content by followed authors<p>Free Sign Up<p>Already have an account? Sign …

Enforcement Directorate

Indian agency probing 100 shell companies for links to bank fraud case

NEW DELHI (Reuters) - India’s financial crime fighting agency is investigating more than 100 “shell companies” that are suspected to be involved in the Punjab National Bank’s (PNBK.NS) near $1.8 billion fraud, a government source said on Tuesday.<p>The companies were allegedly used by Indian jewelers …

Bank Fraud Adds to Rupee's Woes as Lenders May Curb Trade Credit

The $2 billion fraud unearthed at Indian lender is casting its shadow over the rupee, already the second-worst performer in Asia this month, as banks …

CBI Moves Interpol to Track Down Sabya Seth in Rs 389 Crore Fraud

The Central Bureau of Investigation on Thursday, 1 March, approached Interpol in an attempt to locate Sabhya Seth, the promoter of Delhi-based …

CBI registers Rs 515 crore bank fraud case against RP Infosystem

By ANI<p>NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday registered a case of bank fraud worth Rs 515.15 crores against RP Infosystem …

India's PNB bank fraud likely to swell beyond $2 billion mark | Reuters

CBI files case against Hyderabad-based Totem Infrastructure in Rs 1,394 crore bank fraud

By IANS<p>HYDERABAD: Yet another bank fraud has come to light, with the CBI filing a case against Hyderabad-based Totem Infrastructure Ltd for allegedly …

Bank fraud: ED attaches assets worth Rs 55.65 crore of Kolkata firm under PMLA

The Enforcement Directorate (ED) on Monday attached assets worth Rs 55.65 crore of a Kolkata-based computer manufacturing firm in connection with its …

CBI registers two cases against Punjab firms for bank fraud

New Delhi, March 29 (IANS) The Central Bureau of Investigation has registered two cases against at least eight directors of private companies based …

Another bank fraud: CBI files FIRs against companies for cheating Bank of India

CBI files two FIRs against Punjab based companies for defraud Bank of India of Rs 89 crore<p>In yet another bank fraud, the Central Bureau of …

Smaller Importers To Feel The Pinch Of India’s Biggest Bank Fraud

The non-availability of buyer’s credit is likely to inhibit the business growth of importers in the near term.

Indian police question cenbank officials in $2 bln PNB bank fraud

© Reuters. Indian police question cenbank officials in $2 bln PNB bank fraud<p>NEW DELHI, April 5 (Reuters) - India's police have questioned four senior …

Punjab National Bank

CBI Questions Former Deputy Governor Of RBI In PNB Scam Case

The CBI today questioned a former Deputy Governor of the Reserve Bank, H R Khan, in connection with alleged bank fraud cases involving diamond …

India

Indian police questioned former cenbank deputy governor in PNB bank fraud case: source

© Reuters. Indian police questioned former cenbank deputy governor in PNB bank fraud case: source<p>NEW DELHI, April 6 (Reuters) - India's federal …

Corruption

Rs 2,654-crore bank fraud: ED conducts searches at six places of Bhatnagars

The Central Bureau of Investigation (CBI) had filed an FIR against the Bhatnagars, the promoters of Diamond Power Infrastructure Limited (DPIL), on …

CBI grills 6 Bank of Baroda officials in connection with Rs 3,695 crore bank fraud involving Rotomac owners

India Today<p>story<p>CBI has grilled six officials of Bank Of Baroda in connection with the fraud involving Rotomac …

CBI books pharma firm directors, officials of Dubai, Patial-based companies in Rs621 cr bank fraud

The CBI on Tuesday conducted searches at seven places in connection with the bank fraud to the tune of Rs621 crore.<p><b>New Delhi:</b> The CBI has registered …

India

Indian firms lost $500,000 to cyber attacks in 1.5 years: CISCO survey

Cyber attacks in the country caused financial damages to the tune of about $500,000 to India companies in the last 12-18 months, says a …

When Two-Factor Authentication Fails: Rethinking The Approach To Identity Security

In 2017, we saw a new influx of spectacular and devastating breaches. Somewhat lost in the chaos was a surprising trend amongst them — a sharp escalation in attackers utilizing stolen, valid credentials as their primary means of gaining a foothold in the organization. This is by no means a new …