Essays on Banking Frauds

The program was rolled out in 2016 with a hope to profile a digital identity of each and every Indian citizen. Given a lot of population of India is illiterate, the purpose of Aadhaar is to allow everyone access to government services by using a digital identity clubbed with thumb impression. Moreover, it was assured that it will tackle the problems like corruption, terrorism, bribery so on and so forth. In May 2018, Anmol Somanchi from The Wire published an…...

Introduction: In the year 2014 the Narendra Modi was elected as a new Prime Minister to INDIA. He and his members have won major numbers of seats in election by seeing the leadership skills and his dedication towards wellafare of the citizens to his state as a chief minister (Head of the state, elected based on state local elections). As being a chief minister of Gujarat (A state in India) for 10 years. He changed the whole system with his…...

Abstract This paper aims to study new forms of cyber crime in the world and understand the cyber insurance protection from the various kind of cyber-attack. With the rapid technological developments, our life is becoming more digitalized. Be it business, education, shopping or banking transactions everything is on the cyber space. Cyber crimes can involve criminal activities that are traditional in nature, such as theft, fraud, forgery, defamation and mischief, all of which are subject to the Indian Penal Code.…...

Considering large corporate misdeeds have emerged throughout the past years. Thus, large corporations as Wells Fargo placed beneath the telescopic to guarantee they are not functioning fraudulently. However, Wells Fargo under investigation for the millions of accounts opened that lacks customer knowledge. Around 5,300 employees dismissed for generating over two million of phony accounts without customers’ consent. John Stumpf, the CEO of Wells Fargo had to step down due to his illegal banking practices that cost the company millions in…...

With the extensive use of credit cards, fraud appears as a major issue in the credit card business. It is hard to have some figures on the impact of fraud, since companies and banks do not like to disclose the amount of losses due to frauds. At the same time, public data are scarcely available for confidentiality issues, leaving unanswered many questions about what is the best strategy. Another problem in credit-card fraud loss estimation is that we can measure the loss…...