Tag: financial fraud
Sarvam AI Startup Programme Fuels Indic AI Builders
Sarvam AI has introduced the Sarvam Startup Programme, providing early-stage companies with up to 12 months of API credits, priority engineering support and production-ready infrastructure to build multilingual AI applications without backend complexities. Founders Vivek Raghavan and Pratyush Kumar positioned the initiative to empower India’s developer ecosystem with high-quality models fluent in 22+ Indian languages and English, enabling full agency in creating voice agents,...
Oracle Layoffs Fund AI Data Centre Push Amid Cash Squeeze
Oracle is planning thousands of job cuts across divisions as it grapples with a cash crunch from aggressive AI data centre buildout to support major clients including a $300 billion OpenAI agreement, xAI and Meta, as Bloomberg News first reported. The reductions, potentially broader than typical rolling cuts, may begin this month and target roles expected to diminish under AI automation, coinciding with an...
Dr. Reddy’s Laboratories Loses ₹2.16 Crore to Executive Email Spoofing Fraud
Pharmaceutical major Dr. Reddy’s Laboratories Ltd. has fallen victim to a sophisticated cyber fraud involving email spoofing, resulting in a financial loss of ₹2.16...
Germany Shuts Down 1,400 Cybertrading Scam Websites
In a sweeping crackdown on cyber-enabled financial fraud, German authorities — in coordination with Europol and regulators from Eastern Europe — have taken down...
₹1.07 Cr Seized in Lucknow’s Biggest Cyber Fraud Bust
Lucknow Police have uncovered a sprawling online betting scam that led to the seizure of ₹1.07 crore in cash and the arrest of 16...
RBI Asks Banks to Integrate DoT’s Fraud Risk Tool
The Reserve Bank of India (RBI) has issued an advisory asking all banks to integrate the Department of Telecommunications’ (DoT) Financial Fraud Risk Indicator...
India Lost ₹22,812 Crore to Cyber Fraud in 2024
India recorded an alarming ₹22,812 crore in losses due to cyber fraud in 2024, according to a new report titled The State of AI-Powered...
India Launches e-Zero FIR for Cybercrime Cases
In a decisive move to enhance India’s cybercrime response, the Ministry of Home Affairs (MHA) has launched a pilot version of the e-Zero FIR...
Aviva India Fined $7.5M for Tax Evasion
Aviva India, the local arm of the British insurance giant, has been hit with a $7.5 million penalty after tax authorities uncovered fraudulent tax...
RBI Launches ‘Bank.in’ Domain for Indian Banks
The Reserve Bank of India (RBI) has introduced an exclusive ‘.bank.in’ internet domain for Indian banks as part of measures to enhance digital security....
