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Boeing ordered to pay over $28 million to 737 MAX crash victim’s family
The verdict awarded to the family of Shikha Garg is the first in...
Banks at crossroads as AI costs rise and risks escalate: S&P Report
In terms of risk management practices, the report pointed out that...
Govt formulating action plan to compensate victims of cyber financial frauds
Vivek Joshi, Secretary, Department of Financial Services Also discussed was the issue of integration of Citizen Financial Cyber Fraud Reporting and Management System platform with National Cybercrime Reporting Portal with the aim to centralise the platform that will...
The Agent Advantage: Fulfilling Financial Goals
Sameer Joshi, Chief Agency Officer, Bajaj Allianz Life Insurance In this digital age, where information is at our fingertips, why should one buy life insurance from agents? As we embark on a new year filled with promises, resolutions, and aspirations, we often have a...
Par panel asks ministries to work on mechanism to check virtual accounts misuse
The panel said that while being briefed about the various modes of cyber frauds, the MHA representatives submitted that a virtual account was one such issue that fraudsters were using for committing frauds. It was further submitted that these virtual accounts were...
Google pilots new programme to protect Android users from financial fraud
"As part of a continued strategic partnership with the Cyber Security Agency of Singapore (CSA), we will launch this first pilot in Singapore in the coming weeks to help keep Android users safe from mobile financial fraud," Google said in a blogpost New Delhi: Google...
RBI plans new framework for authentication of digital transactions
To enhance the security of AePS(Aadhaar Enabled Payment System ) transactions, it is proposed to streamline the onboarding process, including mandatory due diligence, for AePS touchpoint operators, to be followed by banks. Additional fraud risk management requirements...
TCS expands 15-yr strategic partnership with UK’s Aviva, to service over 5.5 million policies
Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said,“Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions. It will allow us to rationalize our systems and improve...
Crypto ransom attack payments hit record $1 billion in 2023 – Chainalysis
A report in November showed that cybercrime group "Black Basta" had extorted at least $107 million in bitcoin, with much of the laundered ransom payments making their way to the sanctioned Russian cryptocurrency exchange Garantex Payments from crypto-related ransom...
Boeing door bolts on Alaska flight were missing, says US Investigators
The incident has become the biggest crisis for Boeing since its entire fleet of Max jets was grounded worldwide in 2019 following two fatal crashes A dramatic accident on an Alaska Airlines flight last month was apparently triggered by a door plug that hadn’t been...
DBS cuts CEO Gupta’s salary by 30% for digital banking outages
Piyush Gupta,Chief Executive Officer, DBS Bank’ Last year’s outages at DBS that saw payment and ATM transactions stalled across the city-state also resulted in the variable compensation for the group management committee collectively cut by 21 per cent from a year...
Gadkari urges earth sciences minister to consider plea to continue district agromet units
Union Minister Nitin Gadkari A total 130 agromet field units (AMFUs) have been set up in the country's agro-climatic zones over the years in collaboration with the Indian Council of Agricultural Research. AMFUs provide advisories at the zonal level, each catering to...