Biometric Identification with Aadhaar
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…...
Banking FraudsSoftware
Forms of Cybercrime and Cyber Insurance These Days
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.…...
Banking FraudsCredit CardCyber Crime
Fraud at Wells Fargo
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…...
Accounting And FinanceBanking FraudsCustomer
About Bernie Madoff: Infamous Financial Fraud Manager
Bernie Madoff in his infamous financial fraud managed to influence thousands of investors to give out their savings promising them that they would receive consistent profits in return. One of the major networks that played a major role in Madoff’s scheme is the fact that he had established strong social relations. Social relation is often considered a major condition for building trust among those you are working with. Madoff was therefore a well-respected financier through his multimillion-dollar foundation. He engaged…...
Bernie MadoffEconomic DevelopmentFraud
The Close Relationship Between Technology and Fraud
Technology like anything else in life has its positive and negatives, but unlike anything else, it has continued to evolve and enhance those positive and negatives. Society has a love affair with technology that continues to test every aspect of society’s norms and values along with business practices. Not only has technology made normal interaction obsolete, but it has even made fraud impersonal and easier to complete with no human interaction. Society continues to make strides and advance within the…...
FraudTechnologyTechnology Addiction
Credit card fraud study
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…...
Banking FraudsCredit CardCredit Card FraudFraud
24/7 Support