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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Nithin Kamath sounds alarm over digital arrest frauds in India
Zerodha cofounder Nithin Kamath on Wednesday flagged the rise of digital arrest frauds in India over the past year, and the vast amounts of money being lost to scamsters.
In a post on X, Kamath said, «Indians have lost over Rs 2000 crores to digital arrest frauds this year. These scams work by creating fear in people. They take advantage of people's tendency to make mistakes when they are afraid.»
Kamath detailed how these scams work in a video, and asked people to beware. «The fraud works because we instinctively become afraid and will do whatever it takes to avoid trouble. Don't react in a hurry. Also, block or don't receive calls and messages from unknown numbers,» the post read.
«Those of us who are educated may think that no one will fall for such obvious scams, but crores of educated Indians have fallen victim to these frauds,» Kamath warned.
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What is a digital arrest?
A digital arrest is a type of fraud where cybercriminals impersonate law enforcement or government officials and place victims under a so-called ‘digital arrest’. No such provision exists under the law.
Typically, a person gets a call from someone claiming to be a police officer, who says a courier package in the person’s name has been seized because it contains illegal items such as drugs. The victim gets a WhatsApp video call from a scamster wearing a police uniform, threatening to arrest them or file a case against them.
The scammers then coerce the victim, often a senior citizen, into giving them money and revealing
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
21.05 / 10:17
markets
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
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markets
IPO
Racing
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21.05 / 09:47
markets
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PI Industries’ weak core business keeps investors on edge
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Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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