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Stranded asset. v. t. e. The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1] The fraud was allegedly organized by jeweller and designer Nirav Modi.
The saga surrounding the bankruptcy of Synapse, a 10-year-old fintech firm, puts a new spotlight on how loose webs of partnerships between venture-backed upstarts and FDIC-backed lenders can go so ...
Banking industry officials told a Senate subcommittee in May they are investing heavily in new technologies to stop fraud, “and some hold great promise.” The American Bankers Association says ...
Banking Ombudsman is a quasi-judicial authority created in 2006, and the authority was created pursuant to a decision made by the Government of India to enable resolution of complaints of customers of banks relating to certain services rendered by the banks. The Banking Ombudsman Scheme was first introduced in India in 1995 and was revised in ...
v. t. e. Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that ...
The attack affected C-Edge Technologies, a provider of banking technology systems to small banks across the country, they said. C-Edge Technologies did not respond to an email seeking comment.
The chaos of the war had, according to some, "demonstrated the absolute necessity of a national banking system". [10] The push for the creation of a new national bank occurred during the post-war period of American history known as the Era of Good Feelings. There was a strong movement to increase the power of the federal government.
Whaling attacks use spear phishing techniques to target senior executives and other high-profile individuals [23] with customized content, often related to a subpoena or customer complaint. [24] CEO fraud involves sending fake emails from senior executives to trick employees into sending money to an offshore account. [25]