In this episode, we deep-dive into a real banking fraud case involving WhatsApp impersonation, cheque misuse, and unauthorized RTGS transfers that resulted in a loss of ₹1.3 Crores from a corporate account.

A fraudster impersonated a legitimate partner of a firm and manipulated branch officials through WhatsApp calls, forged documents, urgency tactics, and false business promises. Due to procedural lapses and failure to verify customer credentials, multiple high-value transactions were processed without proper authorization.

🎧 Key learnings from this episode:

• How WhatsApp phishing scams target bank officials

• Common red flags in impersonation-based frauds

• Why oral / WhatsApp instructions are dangerous

• Importance of verifying registered mobile numbers & email IDs

• Risks of issuing cheque books without proper requisition

• How pressure, urgency, and business temptation cloud judgment

• Preventive measures every branch must follow to avoid such frauds

This episode is essential listening for bank officers, branch managers, operations staff, auditors, compliance teams, and banking exam aspirants to understand how small deviations from SOPs can lead to major frauds and accountability issues.

⚠️ Remember: Fraud doesn’t start with technology failure — it starts with process failure.

In this episode, we uncover one of India’s most terrifying and sophisticated cyber frauds — the Digital Arrest scam that shook the nation and led to a ₹7 crore financial loss for a highly respected senior citizen.

Fraudsters posing as CBI and Enforcement Directorate officials trapped the victim in a fake investigation, staged a virtual courtroom, sent forged arrest warrants, and kept him under 24/7 video surveillance, threatening arrest under serious charges. Under fear and isolation, the victim was coerced into transferring crores of rupees as “bail money”.

🎧 In this episode, you’ll learn:

• What exactly is a Digital Arrest scam

• How scammers impersonate CBI, ED, and even the Chief Justice

• Why video calls, fake courtrooms & forged documents feel real

• How isolation and fear override rational thinking

• Why even educated, successful people fall victim

• What to do if someone says “You are under investigation”

• How to report such frauds via 1930 & Cybercrime Portal

This episode is a must-listen for senior citizens, families, bankers, students, and professionals, because cybercrime today targets the mind before it targets money.

🚨 Remember: No police, CBI, ED, or court can arrest you over a video call.

In this episode, we break down Due Diligence in Banking — a critical but often underestimated process that protects banks, officers, and customers alike.

We discuss when due diligence is required, its core objectives under KYC/AML norms, and how lapses can lead to frauds, mule accounts, benami transactions, and NPAs.

The episode covers:

• Due diligence while opening deposit accounts

• Pre-sanction and post-sanction checks in lending

• Importance of CIBIL analysis beyond credit score

• Bank statement scrutiny and supplier verification

• Risks in DSA-sourced proposals

• Early Warning Signals (EWS) and post-sanction vigilance

• Real-world challenges faced by bankers and how to mitigate them

A must-listen for bank officers, credit managers, compliance teams, auditors, and IBPS/JAIIB aspirants who want to understand how quality due diligence safeguards both the institution and the individual officer.

🎧 Practical. Relevant. Ground-level banking insights.

In this episode, we expose one of India’s most dangerous phishing and fake alert scams — the infamous SBI RewardZ / KYC Update APK fraud that targeted thousands of bank customers, especially senior citizens and first-time digital users.

Fraudsters used WhatsApp and SMS messages claiming urgent reward redemption or KYC updates, tricking victims into downloading a malicious APK file. Once installed, the malware silently accessed SMS, OTPs, and banking credentials, allowing scammers to drain accounts in minutes.

🎧 In this episode, you’ll learn:

• How the SBI RewardZ APK scam actually works

• Why APK files sent on WhatsApp/SMS are extremely dangerous

• How scammers bypass OTPs using malware

• Common red flags in fake KYC & reward alerts

• What to do immediately if you click a phishing link

• How to report cyber fraud via 1930 & Cybercrime Portal

This episode is a must-listen for bank customers, bankers, students, parents, and anyone using mobile banking, because one careless click can lead to total financial loss.

🚨 Remember: Banks never send APK files for KYC or rewards.

Gross Negligence

A vehicle loan of ₹120.00 lakhs was sanctioned by a branch of “X” Bank. The borrower proceeded to the dealer to take possession of a BMW car. The borrower requested the Branch Manager to disburse the loan proceeds, along with the available margin in his account, directly to the car dealer.

Upon contacting the advances officer, the Branch Manager was informed that the loan documents had not yet been signed by the borrower. This information was relayed to the borrower, and the manager communicated the loan disbursement could not be processed due to pending documentation. The borrower, being an HNI customer of the branch, requested the disbursement of the loan while at an out-of town dealership, promising to execute the necessary documents the following day.

Trusting the borrower's assurance, the branch proceeded with the loan disbursement and remitted the loan proceeds, along with the margin, to the car dealer. Subsequently, both the borrower and branch officials became occupied with their routine duties, leading to an oversight in the execution of the loan documents. Furthermore, the creation of Bank’s charge on the vehicle with the RTO office was not ensured.

Fifteen days subsequent to the loan disbursement, the borrower unfortunately passed away due to a cardiac arrest. The borrower's family, lacking the requisite business acumen, was unable to sustain the enterprise, leading to substantial financial losses and its eventual closure. Consequently, the vehicle was sold by the family to settle outstanding market debts incurred by the deceased borrower.

The Branch Manager discovered that the vehicle had been sold without the Bank's knowledge when they contacted the family. Upon seeking recovery of the car loan, the family asserted their unawareness of the loan and the lien on the vehicle, stating that they had sold it to settle outstanding debts.

Two months subsequently, the RBIA team verified the loan and noted that the loan documents, including the agreement and other requisite annexes, lacked the borrower’s signature. Furthermore, the copy of the RC with the Bank's lien was absent, and the original invoice in the borrower's name was unavailable for

verification.

OBSERVED DEFICIENCIES

• Loan documents were not executed by the borrower prior to disbursement.• The charge with the RTO Office was not created in the Bank's favor.• Inadequate compliance with sanctioned terms and conditions.• Negligence in the monitoring of loan accounts.