Tag: financial fraud
ASML to Cut Around 1,700 Jobs in AI‑Driven Reorganisation
ASML, the Dutch semiconductor‑equipment giant that holds a near‑monopoly on advanced lithography tools used to manufacture cutting‑edge chips, is planning to cut roughly 1,700 jobs, or about 4 per cent of its 44,000‑person workforce. The move was announced in January alongside the company’s record full‑year revenue of €32.7 billion and signals a major internal reorganisation aimed at streamlining operations even as demand for advanced...
MeitY Proposes Continuous Labelling for AI‑Generated Content
The Ministry of Electronics and Information Technology (MeitY) has proposed that all content generated with the help of artificial intelligence carry a continuous and clearly visible label alerting users that the material has been synthetically created. The draft amendment to the Information Technology Rules (Intermediary Guidelines and Digital Media Ethics Code), 2021 requires that the labelling must remain on display for the entire duration...
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....
