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mule accounts, deploying AI tools to track suspicious patterns like dormant accounts receiving large credits or multiple accounts showing identical recurring transactions simultaneously. Financial technology companies such as Bureau, Clari5 and Datasutram are helping banks deploy AI-based fraud detection systems that can detect issues like mule accounts — bank accounts criminals use to launder money, often without the account holder's knowledge — in real time, rather than waiting for defrauded customers to raise a complaint. Lenders are using AI tools to constantly analyse their savings and current accounts. Whenever there is an anomaly spotted by these software systems, red flags are raised for subsequent investigation, industry insiders told ET.

In the latest annual data obtained by Plum, the number of ISA millionaires tracked by HM Revenue & Customs rose by around 20% from 2022's figure of 4,070, and marked an 11-fold increase from just 450 in 2016. As a result, the average ISA millionaire now owns a pot of roughly £1.3m. However, according to Plum, the top 25 ISA investors sit on pots averaging more than six times that figure, namely £8.8m. Autumn Budget 24: ISA regime left untouched despite financial services agenda pledge «ISA millionaire wealth continues to grow, even as other savings and investment products lose a li...

Subscribe to enjoy similar stories. In an increasingly unstable economic environment, ensuring the financial resilience of micro, small, and medium enterprises (MSMEs) is crucial. A robust strategy for passive income can provide the stability needed to support not only personal security but also long-term business growth.

Subscribe to enjoy similar stories. Imagine you are walking on railway tracks on a bridge across a river and you see a train fast approaching on those tracks. You would be extremely lucky if you have time to rush inside one of the refuge bays by the side of the tracks on railway bridges.

Subscribe to enjoy similar stories. For 33-year old Pragya Banthia, a London-based Product Operations Manager, the idea of being able to screen for breast cancer at home in a comfortable setting is appealing. “Cancer is a very sensitive topic for me given my family history.

fixed deposits should stick to large-cap funds as these schemes invest in companies with long track records and strong managements, which works well in the long term. WHAT IS A LARGE-CAP MUTUAL FUND? As per regulatory guidelines, a largecap company is a listed company ranked from 1st to 100th on the Indian stock exchanges in terms of market capitalisation. Hence for a fund house, a large-cap scheme needs to invest at least 80% of its corpus in large-cap companies, with the flexibility to invest the remaining 20% in other companies as per the discretion of the fund manager.

Subscribe to enjoy similar stories. At 6.21%, retail inflation in October breached the upper limit of the Reserve Bank of India’s target, for the first time since August 2023, thanks to an alarming rise in vegetable prices. A Mint poll of 18 economists had projected inflation to be at 5.95% for the month.

Set to list on the London Stock Exchange on Wednesday (13 November), the new ETF aims to track the price and yield performance of the WisdomTree Global Efficient Core index and has a total expense ratio of 0.25%.  With its focus on larger companies, the index is tailored to deliver a 90% exposure to global large-cap developed equities and a 60% exposure to global government bond futures.  European active ETFs double their AUM as passives gain popularity across the continent This means that the ETF will invest 90% of its assets in a diversified basket of large cap stocks, provided t...

Subscribe to enjoy similar stories. New Delhi: Getting refund of shares, unclaimed dividends, matured deposits and debentures is likely to get easier for investors and their heirs with the Investor Education and Protection Fund Authority (IEPFA) that manages these assets set to complete its digital transformation over the next few months. IEPFA’s search facility for such financial entitlements of investors and their processing will get more technology support to make the process seamless and the technological transformation is likely to be completed by March 2025, two persons aware of the development said.

Subscribe to enjoy similar stories. Twenty-three Nobel laureates in economics warned two weeks ago that Donald Trump’s economic agenda would be disastrous for the U.S. Immediately after Mr.

space surveillance.

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Donald Trump’s victory in the US elections fizzled out soon as Nifty ended the week 0.2% down and outperformed most global markets amid concerns around slowing macro and weak Q2 earnings. IT stocks rallied post-US election results, lifting the Nifty IT index by 4%. Conversely, the high-beta Nifty Realty Index fell by 4%.

Regional equities had started the day by tracking Wall Street's overnight rise to record highs, with investors digesting the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump.

OpenAI's popular chatbot ChatGPT was back up after an outage affected thousands of users, the company said on Friday.

Jennifer Lopez and Ben Affleck broke up more than six months ago, their romance lasted for twenty years, and it appears that Lopez is finding it difficult to move on.

Reasons to buyReasons to avoidThe MOREPEN GlucoOne Glucose Monitor Strips are designed for use with the Dr Morepen BG-03 Gluco-Glocometer. These strips are easy to use and provide accurate results within seconds.

Subscribe to enjoy similar stories. An entire generation of NBA players found out the hard way that when Michael Jordan wants something, he usually gets it. Now, another sport is learning the same lesson: Nascar.

Edelweiss Mutual Fund has filed a draft document with Sebi for a target maturity fund. Edelweiss CRISIL IBX AAA Financial Services – Jan 2028 Index Fund will be an open-ended target maturity debt Index Fund predominantly investing in the constituents of CRISIL IBX AAA Financial Services – Jan 2028 Index with a relatively high-interest rate risk and relatively low credit risk.

Subscribe to enjoy similar stories. When India’s top investors—often hailed as the Warren Buffetts of India—decide to exit a stock, it’s a signal the market can’t ignore. Known for their patient capital and long-term outlook, these investment gurus don’t buy or sell without compelling reasons.

Subscribe to enjoy similar stories. Mumbai: After establishing a strong presence in the retail payments ecosystem, NPCI Bharat Connect is now developing an interlinked payments platform for small businesses.