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Brief by Shorts91 Newsdesk / 03:49am on 22 Apr 2026,Wednesday India
In a landmark ruling, the Reserve Bank of India ombudsman directed five banks including Axis Bank, City Union Bank, ICICI Bank, IndusInd Bank and Yes Bank to pay ₹1.31 crore to a victim of a ₹22.92 crore “digital arrest” scam. The case involved 78-year-old Naresh Malhotra, who was defrauded through mule accounts between August and September 2025. The order cited KYC deficiencies in beneficiary accounts. The probe, now with the Central Bureau of Investigation, marks one of Delhi’s largest cyber fraud cases, highlighting regulatory lapses and rising financial cybercrime risks. (PC: X)
