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<ul class="summary-list"><li>A former Mastercard executive almost lost $100,000 to an account takeover scam.</li><li>Scammers accessed her real-estate agent's email and impersonated a title company.</li></ul>It can happen to anyone, it seems. Even those who work in the finance industry.A former Mastercard executive told Business Insider she nearly lost $100,000 to an account takeover scam last year.Catherine Woneis, former vice president of CipherTrace, a service owned by MasterCard that helps secure crypto transactions, says she almost lost most of her life savings after scammers accessed her real-estate agent's email.Account takeover fraud is when scammers gain access to your social media, email, banking, or other personal accounts. Criminals usually gain access to accounts with stolen credentials that they purchase through <a target="_blank" href="https://www.businessinsider.com/small-town-scam-idaho-contractor-payment-social-engineering-2024-6">the dark web or social engineering</a> tactics that trick you into sharing your password, Woneis said. They then use these accounts to siphon away your hard-earned cash.The number of known account takeover scams grew by 354% year over year in 2023, resulting in $13 billion in losses, according to AI fraud detection service <a target="_blank" href="https://pages.sift.com/rs/526-PCC-974/images/Sift-2023-Q3-Index-Report_ATO.pdf">Sift Science</a>.In Woneis's case, Scammers accessed her real-estate agent's email using "credential stuffing," a tactic that uses AI bots to try every possible username and password until they fall on the correct answer.The fraudsters used information found in emails about Woneis's transactions to impersonate the title company for her home. The fake title company then emailed Woneis, asking for an "accelerated" payment."This is a very typical thing that criminals use in frauds: They try to implement some time piece," Woneis said.Woneis said she checked to see if the email address was real and noticed it was appended with another address, but she assumed it was part of the company's automated email system."They sent me wire instructions that perfectly mimicked the wire instructions from the title company. They had an example of what that looked like," Woneis said. "It was the exact same typography, the exact same letterhead, and everything else."The only differences from the real wire instructions were a fake phone number and email, along with incorrect bank information. Woneis said she thankfully called the phone number she originally received from the title company, who informed her the bank account information was incorrect on the form."Had I been in a rush and called the phone number on the form, that would have been them, and they would have pretended to be the real estate company saying, 'Yes this is authentic, and it's come from us,'" she said. "We could have potentially been caught in wire fraud."Woneis said she would have lost about $100,000 if the transaction went through.Woneis now works for a cybersecurity company called Fingerprint, which she says is developing tools to combat the rise of account takeovers. Some of the keys to fighting this kind of fraud are algorithms that can determine where a website visitor is located (if they're using a VPN) and systems to identify when bots are trying to access a website through brute force, Woneis said.If you think any of your accounts may be compromised, Woneis says to quickly change all of your usernames and passwords, set up two-factor authentication for any sensitive accounts, and report any fraud to the <a target="_blank" href="https://reportfraud.ftc.gov/">FTC fraud reporting</a> website.

An ex-Mastercard executive was nearly scammed of $100,000. Here's how she spotted it.

In the last few months, have you received a suspicious call from a stranger claiming that you have won a cash prize? Or has someone tried reaching out to you saying that a relative is in trouble and urgently needs money? If you answered yes to any of these questions, know that you are not alone. <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> has reported a rise in scam calls in recent months and these calls seem to be increasing at a rapid rate. But not just calls, there are various other platforms that scammers try to take advantage of, to rob people of their hard-earned money. Read on to know about the top 5 <keyword id="22618205" type="General" weightage="100" keywordseo="personal-finance-scams" source="keywords">personal finance scams</keyword> that are surfacing in India and how you can stay safe from them. <h2>Fake <keyword id="20488964" type="General" weightage="20" keywordseo="job-offer" source="keywords">job offer</keyword> scams</h2>This is one of the most commonly reported scams. Over the last year, there have been many cases where people were approached for seemingly lucrative job offers via platforms like WhatsApp and Telegram. Some of these cases involved the victim making payments to certain accounts, while being made to believe that it is a part of the job and there will be a handsome return later. For instance, a PTI report in May this year revealed that a woman from Navi Mumbai found herself trapped in an online fraud and lost Rs 54 lakh. The victim wanted to earn some extra money by working from home and was reportedly offered freelance work by the scammers. She was also told that she would earn money after completing five tasks. And to receive these tasks, the woman claimed that she paid Rs 54.30 lakh in various accounts. When the woman asked for payment after completing the tasks assigned to her, the scammers stopped replying. <h2>Sweetheart scams</h2>Meeting the love of your life through an <keyword id="20167528" type="General" weightage="20" keywordseo="online-platform" source="keywords">online platform</keyword> seems too good to be true at times. And sometimes, this really is the case. Various cases have surfaced in the past where the victims were duped of their hard-earned money by their online lovers. Just last month, a man in Delhi was scammed of Rs 1.2 lakh when he planned to meet a woman he was talking to on Tinder. The two met at a cafe in Delhi to celebrate the woman’s birthday and ordered some snacks, cakes, and wine. The woman however, abruptly left in the middle of the date citing a family emergency. And the victim incurred a bill of Rs 1,21,917.70 for food that should have only cost a few thousand bucks. When he questioned the high bill, he was threatened and forced to pay. After investigating, the police found that the cafe split the high bills in a set way: 15% to the girl, 45% to the table and cafe managers, and 40% to the owners. <h2>Fake screenshots scams</h2>Another type of scam that is widely happening in the country is where you are shown a screenshot that gives the impression that your account has been credited with some money, when it actually has not. For instance, in March this year, a Delhi Uber driver was making headlines for overcharging a customer for a ride to the airport. A Moneycontrol report mentioned how a man described his experience in a Reddit thread. As per the report, the man said that he had booked a ride to the airport and the initial fare was Rs 340. However, when the ride was completed, the Uber driver showed him a screenshot which depicted that the fare was Rs 648. The driver had claimed that the fare increased due to more waiting time. However, that wasn’t the case and the driver had created a fake screenshot to demand extra money. After this post went viral, several other Reddit users reported similar incidents. <h2><keyword id="19925254" type="General" weightage="20" keywordseo="YouTube" source="keywords" meta.keywordsubtype="org" meta.entityname="YouTube" meta.hostid="261" meta.entityid="YouTube">YouTube</keyword> like and earn scam</h2>This one is similar to the completing tasks scam. In this scam, <keyword id="20013464" type="General" weightage="20" keywordseo="fraudsters" source="keywords">fraudsters</keyword> tend to tell the victim that they will have to engage with a YouTube channel to earn money. They then ask the person to make certain payments, promising a greater reward later on. Once the victim transfers the money, the fraudsters tend to disappear into thin air. In February this year, there were reports of a man losing Rs 16 lakh due to such a scam. <h2><keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">Online shopping</keyword> scam</h2>If you have ever shopped online, be sure to read this one. Many scamsters come up with fake advertisements on reputed platforms like Instagram to lure people into buying items online. In such scams, once the order has been placed and payment has been made, the victim doesn’t receive the products. In addition to this, scammers can also pose as bank employees and gain access to sensitive information of the victim’s account. For instance, a report by PTI last year revealed that a 70-year-old woman was buying six towels online for Rs 1,160. While making the payment, Rs 19,005 was taken from her account instead of Rs 1,160. She tried to contact the bank helpline but couldn't reach them. Soon after, she got a call from an unknown number. The caller claimed to be from the bank and offered to help with her payment problem. He asked her to download an app for the refund. The woman followed his instructions but ended up losing Rs 1 lakh from her account. When she saw the unauthorised transactions, she went to the police station. Meanwhile, another Rs 8.3 lakh was withdrawn from her account. <h2>How to stay safe from such scams</h2>Even though more and more people are being targeted by scammers, there are some ways that you can ensure that you stay safe. Keep these few points in mind in order to protect yourself against personal financial scams. <ol><li>Don’t share your personal information with strangers online or on the phone. </li><li>Don’t make any payments just because a stranger told you to. Verify the situation and the person’s credentials. </li><li>Don’t click on suspicious links that are sent to you on emails or text messages. </li><li>Avoid shopping for doubtful websites or accepting job offers from sites that appear dubious. </li><li>Before taking up any job offer, perform a thorough search of the company or the person who is claiming to recruit you. </li><li>Read up a bit about popular scams going on right now. At times, a simple Google Search can help you save up loads of money. </li></ol>

Top 5 personal finance scams in India and how to stay safe from them

<ul class="summary-list"><li>In 2017 my dad called me panicked in the middle of the night. </li><li>He begged me to turn on my phone camera and show him where I was. </li></ul>I remember vividly the sound of my dad's voice asking me to turn on the <a target="_blank" href="https://www.businessinsider.com/smartphone-camera-features-that-make-you-feel-like-a-professional-photographer-2018-2">camera on my phone</a>. He was in a panic; I was dead asleep and didn't understand what was happening."Where are you?" he kept repeating. My answer that I was at home with my boyfriend did not satisfy him. He didn't explain what was happening until he saw my sleepy face in the middle of my <a target="_blank" href="https://www.businessinsider.com/woman-transformed-brooklyn-apartment-into-colorful-loft-photos-2021-11">Brooklyn apartment</a>."I almost got scammed," he said. "I thought you <a target="_blank" href="https://www.businessinsider.com/boy-14-slingshot-to-fight-off-sisters-kidnapper-police-2023-5">were kidnapped</a>."Phone and online scams <a target="_blank" href="https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2023/10/social-media-golden-goose-scammers#1">are increasingly sophisticated</a>. Even people who think they are smart enough to avoid getting scammed are vulnerable, as a <a target="_blank" href="https://www.thecut.com/article/amazon-scam-call-ftc-arrest-warrants.html">recent article in The Cut</a> pointed out. For older adults who aren't necessarily that tech-savvy, the risks are even greater.<h2>Scammers called him in the middle of the night</h2>The next day, my dad explained what had happened. Someone called him in the middle of the night and told him I had been kidnapped and he needed to <a target="_blank" href="https://www.businessinsider.com/kidnappings-millionaires-and-business-executives-2019-4">pay a ransom</a> if he wanted to see me again.He said they put the phone over to "me" and that the person sounded like the real me. He said he kept trying to ask if I was OK and started yelling at the person on the phone, waking up my mom.The person on the phone made it clear they had to <a target="_blank" href="https://www.businessinsider.com/how-to-use-zelle-payments-app-vs-venmo-2018-2018-6">wire money</a> if they wanted me released. My dad was ready to do it when — in a second of clarity — he realized the kidnappers were talking in Spanish.I lived in New York City, and they <a target="_blank" href="https://www.businessinsider.com/moved-from-argentina-to-maine-for-a-safer-life-2023-10">lived in Argentina</a>. While there are many Spanish speakers in NYC, the people on the phone were also Argentine. Something seemed off.<h2>My dad called me at 2 a.m.</h2>My dad gave my mom the phone and asked her to get the wire transfer information from them. He then grabbed my mom's phone and called my American <a target="_blank" href="https://www.businessinsider.com/the-history-of-the-cellphone-2018-7">cellphone</a>. He called my then-boyfriend when I didn't pick up — because I had left my phone in another room. Confused, he told me it was my mom on the phone. I feared for the worse.When I answered all I could hear was his panicked voice asking me if I was OK. I said yes, I was sleeping and what was up. He kept asking me to turn on my camera because he needed to verify that I was OK.Once he saw me in my apartment, he calmed down. He grabbed the phone from my mom and told the scammers to go fuck themselves.<h2>It wasn't the last time someone attempted to scam them</h2>This is a <a target="_blank" href="https://www.clarin.com/policiales/los-simuladores-secuestros-virtuales-40-al-dia_0_By4ifQcwmx.html">common scam in Argentina</a>. It's so popular that I know at least a handful of friends' parents and grandparents who have fallen for it and transferred thousands of dollars to strangers.These <a target="_blank" href="https://www.businessinsider.com/scams-people-most-likely-fall-for-online-2019-10">scams have become so common</a> that my parents were targeted again in December 2023 with a different storyline.This time, it was someone pretending to be me at the bank. The woman said that she had run out of money and needed my parents to <a target="_blank" href="https://www.businessinsider.com/personal-finance/banks-with-24-7-customer-support">transfer some money</a> so she could make it to the end of the month.My dad, knowing it was not me, decided to play along and asked for her ID number and bank information. Once he had everything, he hung up and reported it to the bank.I'm grateful for my dad's quick thinking, but I also worry about them as they get older and scams become more complex. Whenever he gets an email he doesn't feel good about, he forwards it to me. Nine out of 10 times, I need to tell him it's phishing.The <a target="_blank" href="https://www.ic3.gov/Media/Y2023/PSA231117">FBI recommends</a> people don't pick up calls from phone numbers they don't recognize, something many millennials and Gen Zers avoid anyway. They also suggest that if you receive a call from a family member asking for money, call that person before making any transfers.Based on my parents' experience, they now know to call me first for anything, and they know I will always pick up their phone calls — even in the middle of the night.

My dad almost paid a ransom after being told I was kidnapped — but it was all a scam 

The CBI carried out searches at seven locations on Monday in connection with the <keyword id="8878575" type="UNKNOWN" weightage="20" keywordseo="yes-bank-scam">Yes Bank scam</keyword> pertaining to the Rs 600 crore alleged bribe to the family of its co-founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> by DHFL, officials said. Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai, they said. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with <keyword id="152129" type="COMPANY" weightage="20" keywordseo="Kapil-Wadhawan">Kapil Wadhawan</keyword>, DHFL promoter, for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said. According to the <keyword id="522895" type="ORGANIZATION" weightage="20" keywordseo="CBI-FIR">CBI FIR</keyword>, the scam started taking shape between April and June, 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL). In return, Wadhawan allegedly "paid kickback of Rs 600 crore" to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said. See also: <a href="https://www.businessinsider.in/finance/news/finance-minister-assures-employment-and-salary-at-yes-bank-at-least-for-one-year/articleshow/74514015.cms">Finance Minister assures employment and salary at Yes Bank at least for one year</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-falls-10-after-rbi-limits-withdrawals/articleshow/74504094.cms">Yes Bank share price nose dives 72% after RBI limits withdrawals</a> <a href="https://www.businessinsider.in/finance/news/rbi-has-a-new-scheme-to-rescue-yes-bank-will-be-released-shortly-says-shaktikanta-das/articleshow/74506268.cms">RBI has a new 'scheme' to rescue Yes Bank — will be released shortly, says Shaktikanta Das</a>

Yes Bank scam escalates as CBI carries out searches to connect Rana Kapoor to DHFL promoter Kapil Wadhawan

New Delhi, Apr 26 () The CBI has taken DHFL promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan into custody from a Mahabaleshwar-based quarantine facility in connection with a case of bribery against former Yes Bank CEO Rana Kapoor, officials said on Sunday. A process of executing non-bailable warrants against both is going on, a CBI official said. The Wadhawan brothers are named as accused in the CBI FIR pertaining to swindling of money by Kapoor and others, the officials said. The two were absconding since the case was registered against them on March 7, the agency had alleged. They were held by Satara police earlier this month while allegedly violating prohibitory orders related to lockdown when a carcade carrying Wadhawan family members was stopped at Panchgani in Maharashtra. They were kept at a quarantine facility in Mahabaleshwar by the district administration, they said. The Central Bureau of Investigation (CBI) had written to the Satara district administration to not release them without a No Objection Certificate from it, the officials added. ABS SRYSRY

CBI takes DHFL promoters Kapil, Dheeraj Wadhawan into custody in Yes Bank scam

Hi! <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> in NYC, and it's time for one of my favorite annual traditions: the wildest outfits from the Met Gala. <a href="https://www.insider.com/met-gala-best-wildest-celebrity-red-carpet-looks-2023-5">Check out the pics here.</a>As entertaining as it is to see celebrities dress up in ridiculous costumes, <a href="https://www.insider.com/couture-cockroach-roach-red-carpet-met-gala-moment-2023-5">I really think the cockroach took the cake this year.</a>Today, we've got stories on <a href="https://www.businessinsider.com/fintech-finix-payments-processor-facilitator-richie-serna-2023-5">a payments startup looking to step its game up</a>, <a href="https://markets.businessinsider.com/news/stocks/short-seller-hindenburg-research-wall-street-legend-carl-icahn-enterprises-2023-5?_gl=1*tqano4*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4MzA1MzgyOS4xMTQuMS4xNjgzMDU2MjI2LjU1LjAuMA..">Carl Icahn getting a taste of his own medicine</a>, and <a href="https://www.businessinsider.com/what-hollywood-writers-wga-strike-means-for-tv-shows-movies">what the Hollywood writers' strike means for your favorite shows and movies</a>.But first, we're not out of the woods just yet.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://markets.businessinsider.com/news/stocks/pacwest-western-alliance-stock-regional-bank-crash-jpmorgan-jamie-dimon-2023-5"></a>1. <a href="https://knowyourmeme.com/memes/ah-shit-here-we-go-again">Ah shit, here we go again.</a>This is the banking crisis <a href="https://www.youtube.com/watch?v=5iln6fkwJOU" target="_blank" rel="noopener">that doesn't end.</a>Yes, it goes on and on, my friend.Some banks, started buying long-dated assets not knowing rates would rise. And they'll continue failing forever, just because...So, about that banking crisis being over.If the past few months have taught us anything, it's that the end is never really the end.When regulators announced they were <a href="https://www.businessinsider.com/us-government-bails-out-silicon-valley-bank-depositors-fdic-2023-3">backstopping deposits at Silicon Valley Bank</a>, some viewed it as bringing stability to the market. It didn't. When big banks pledged <a href="https://markets.businessinsider.com/news/stocks/first-republic-bank-svb-morgan-stanley-jpmorgan-talks-financial-aid-2023-3?_gl=1*oxwn0d*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4MzA0NzE5Mi4xMTIuMS4xNjgzMDQ4MTIxLjQ3LjAuMA..">$30 billion to First Republic</a> to calm nerves, it seemed like things would get better. They didn't.When the crisis went international and <a href="https://www.businessinsider.com/ubs-credit-suisse-deal-lacks-discretion-public-spotlight-2023-3">UBS was forced to acquire Credit Suisse</a>, it appeared we'd seen the worst of it. We hadn't.When JPMorgan stepped up <a href="https://www.businessinsider.com/first-republic-bank-taken-jpmorgan-fdic-fails-find-buyer-2023-5">to buy a still-ailing First Republic</a>, the world's top banker, <a href="https://www.businessinsider.com/jamie-dimon-jp-morgan-ceo-first-republic-bank-rescue-2023-3">Jamie Dimon</a>, deemed it the end of the crisis. (<a href="https://markets.businessinsider.com/news/stocks/jpmorgan-first-republic-rescue-banking-turmoil-citi-ceo-jane-fraser-2023-5?_gl=1*1s81v91*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4MzA0MjU3OS4xMTEuMS4xNjgzMDQzMjU4LjE3LjAuMA..">And he wasn't the only one.</a>) He was wrong.The ink is barely dry on JPMorgan's agreement with regulators and it seems more regional banks are feeling the pain. PacWest and Western Alliance both saw their shares slide considerably on Tuesday, <a href="https://markets.businessinsider.com/news/stocks/pacwest-western-alliance-stock-regional-bank-crash-jpmorgan-jamie-dimon-2023-5">Insider's Morgan Chittum reports.</a>It's not just investors that are skittish. Customers of regional banks are starting to ask questions about how safe their local lender is, <a href="https://www.ft.com/content/32342f88-2d24-4198-90f1-89eb23bd1def" target="_blank" rel="noopener">the Financial Times reports.</a>And to be honest, I get it. While I might not agree with the sentiment, I understand why anyone banking with a regional player might start second-guessing that choice. Which begs the question: Will this crisis ever officially end?First Republic's failure and acquisition by JPMorgan could lead more American's to reconsider their banking relationship and <a href="https://www.businessinsider.com/how-jpmorgan-benefits-from-first-republic-fdic-2023-5">move money to a bigger bank.</a> That, in turn, will lead to another bank failing, which means even more American's will reconsider their banking relationship and move money to a bigger bank.And that'll lead to...well, you get the idea.<a href="https://markets.businessinsider.com/news/stocks/pacwest-western-alliance-stock-regional-bank-crash-jpmorgan-jamie-dimon-2023-5">Here's more on how regional banks are still getting slammed despite JPMorgan's Jamie Dimon calling an end to the bank crisis.</a>In other news:<a href="https://www.businessinsider.com/what-hollywood-writers-wga-strike-means-for-tv-shows-movies"></a><div type="image" title="Stefon Saturday Night Live" height="1430" width="1908" msid="99964694" hostid="261"></div>2. Fintech Finix wants to play with big dogs. The startup became a payments processor as it looks to compete with industry giants like FIS and Fiserv that dominate the space. <a href="https://www.businessinsider.com/fintech-finix-payments-processor-facilitator-richie-serna-2023-5">Read more on CEO Richie Serna's strategy.</a>3. Ain't no fun when the rabbit's got the gun. The king of corporate takeovers has some barbarians at his own gate. Short seller Hindenburg Research <a href="https://markets.businessinsider.com/news/stocks/short-seller-hindenburg-research-wall-street-legend-carl-icahn-enterprises-2023-5?_gl=1*tqano4*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4MzA1MzgyOS4xMTQuMS4xNjgzMDU2MjI2LjU1LjAuMA..">published a report on Carl Icahn's holding company</a>, Icahn Enterprises. Among the allegations: The firm has inflated asset valuations and runs like a Ponzi scheme. Icahn, for what it's worth, <a href="https://www.prnewswire.com/news-releases/icahn-enterprises-issues-statement-regarding-short-seller-report-301813690.html" target="_blank" rel="noopener">dismissed the report.</a> But that didn't stop an <a href="https://twitter.com/BillAckman/status/1653455633914396673">old Wall Street rival from getting his shots in.</a>4. Here's what some of the top execs in finance think about the Fed's plan for rates. With the Federal Reserve set to announce what it's going to do with interest rates, plenty of people have thoughts. <a href="https://www.businessinsider.com/milken-2023-federal-reserve-interest-rate-hike-outlook-preview-highlights-2023-5">Here's what five executives at the famous Milken Institute Global Conference had to say on Fed policy.</a>5. Betting big on media, entertainment, and gaming. Alignment Growth just raised $360 million with plans to invest in everything from live experiences to a video game developer. <a href="https://www.businessinsider.com/alignment-growth-bewkes-tsujihara-iosilevich-invest-360-million-media-sports-2023-5">More on why it's so bullish on the space.</a>6. These are all the CEOs saying AI is going to wipe out jobs at their companies. From IBM to Amazon, leaders at some of the biggest companies have hinted at the impact AI will have on their workforce. <a href="https://www.businessinsider.com/ai-tech-jobs-layoffs-ceos-chatgpt-ibm-2023-5">Here's what they've said so far on the topic.</a>7. Here's what could happen if the US defaults on its debt. There's been lots of talk about the US reaching its debt ceiling. So what does it all mean? If you're a masochist, <a href="https://www.businessinsider.com/what-happens-if-congress-doesnt-raise-debt-ceiling-jobs-retirement-2023-5">here's the worst-case scenario.</a>8. When the Airbnb you book is not where you think it is. Here's a wild story about a man whose home <a href="https://www.insider.com/airbnb-bait-switch-los-angeles-man-2023-2">was caught up in a bait-and-switch Airbnb scam.</a> And if you're considering booking an Airbnb for your next vacation, <a href="https://www.insider.com/airbnb-bait-and-switch-scam-how-to-get-money-back-2023-2">here's how to avoid some of the most common scams.</a>9. Put that wardrobe to use. Wondering what to do with those nice work clothes you never wear to the office anymore? (<a href="https://www.businessinsider.com/jpmorgan-new-in-office-policy-impacts-other-banks-2023-4">No offense, JPMorgan employees.</a>) You can make some serious cash renting them out. <a href="https://www.businessinsider.com/clothing-rental-business-how-make-money-2023-4">Here's how one woman made nearly $5,000 a month with the side hustle.</a>10. About the Hollywood writers' strike. Writers Guild of America members <a href="https://www.businessinsider.com/hollywood-writers-are-striking-over-pay-stopping-production-on-shows-2023-5">are officially on strike</a>. If you're wondering what that means for your favorite shows and movies, <a href="https://www.businessinsider.com/what-hollywood-writers-wga-strike-means-for-tv-shows-movies">here's a rundown.</a>Curated by Dan DeFrancesco in New York. Feedback or tips? Email <a href="mailto:ddefrancesco@insider.com">ddefrancesco@insider.com</a>, tweet <a href="https://twitter.com/dandefrancesco">@dandefrancesco</a>, or <a href="https://affiliate.insider.com?h=b83e78f6bb45aba7034c3baf1ec66d1b6c1d3afa26264bdb8604d5b9f2351262&amp;postID=64513979c4cc6f2ceb729396&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdan-defrancesco-29b12449%2F">connect on LinkedIn</a>. Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

This is the banking crisis that doesn't end

(Eds: Adds details of searches; look out circular) New Delhi, Mar 9 () The CBI carried out searches at seven locations in Mumbai on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to its co-founder Rana Kapoor's family by scam-hit DHFL and issued a look out circular against the accused to prevent their escape, officials said.The CBI has named five companies and seven individuals including Kapoor, his wife Bindu and daughters Roshini, Raakhe and Radha as accused in its FIR.Dewan Housing Finance Corporation Limited (DHFL) and RKW Developers Private Limited and their then directors Kapil Wadhawan and Dheeraj Wadhawan, respectively also figure as accused in the FIR.DoIt Urban Ventures controlled by the Kapoor family, RAB Enterprises (lndia) Private Limited in which Bindu Rana Kapoor was director and Morgan Credits Private Ltd in which Rana Kapoor's daughters were directors are also named as accused.While 10 teams of the agency were involved in the search operation spread across swanky south Mumbai neighbourhood, the agency issued Look Out Circular against all the seven accused --Kapoors and Wadhawans -- named in the FIR.A look out circular (LOC) alerts immigration staff at all the ports of entry and exit to prevent the accused from moving out of the country.The Enforcement Directorate (ED), which arrested Kapoor, had already got LOC issued on the basis of which Roshini was stopped for leaving for London at the Chhatrapati Shivaji Maharaj International Airport, Mumbai. The searches took place at the lavish apartment of Kapoor in the famous Samudra Mahal building in Worli, besides residences of his daughters Raakhe and Radha in the up-market NCPA complex, Nariman point, besides Wadhawan's home at Sea View, Palace Hills, the officials said.The offices of DHFL, DoIT Ventures and RKW developers were also searched, they said.The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Rana Kapoor's daughters, DoIT Urban Ventures (India) Pvt Ltd, the officials said.The agency has alleged that between April and June, 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL), they said.Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project, the officials said.The amount was transferred to by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, they said.In return for these Yes Bank funds, Wadhawan allegedly invested Rs 600 crore in a company of Kapoor's daughters -- DoIt Urban Ventures (India) Pvt Ltd, which the CBI alleges to be a bribe to Kapoor for Yes Bank investments.DHFL is alleged to have siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies.The Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. ABS KJ

Yes Bank scam: CBI carries out searches at 7 locations in Mumbai; LOC issued

New Delhi, Mar 9 () The CBI carried out searches at seven locations on Monday in connection with the Yes Bank scam case pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL, officials said.The CBI has named in the FIR five companies, seven individuals, including Kapoor's wife and three daughters, and unidentified people.Besides Rana Kapoor, the agency has booked his wife Bindu, daughters Roshini, Raakhe and Radha.Kapil Wadhawan, promoter of Dewan Housing Finance Corporation Limited (DHFL) and Dheeraj Rajesh Kumar Wadhawan, Director of RKW Developers Private Limited, a company linked to DHFL have also been named as accused, the officials said.Companies DHFL, RKW Developers Private Limited, DoIt Urban Ventures controlled by the Kapoor family, RAB Enterprises (lndia) Private Limited in which Bindu Rana Kapoor was director and Morgan Credits Private Ltd in which Rana Kapoor's daughters were directors are also named as accused.Teams of Central Bureau of Investigation (CBI) officers are carrying out operations at the residence and official premises of the accused in Mumbai, they said.The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Rana Kapoor's daughters, DoIT Urban Ventures (India) Pvt Ltd, the officials said.The agency has alleged that between April and June, 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of Dewan Housing Finance Corporation Ltd (DHFL), they said.Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose Director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project, the officials said.The amount was transferred to by RKW Developers to DHFL without investing anything in the project for which it was sanctioned, they said.In return for these Yes Bank funds, Wadhawan allegedly invested Rs 600 crore in a company of Kapoor's daughters -- DoIt Urban Ventures (India) Pvt Ltd, which the CBI alleges to be a bribe to Kapoor for Yes Bank investments.DHFL is alleged to have had siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore using a web of multiple shell companies.The Reserve Bank of India (RBI) on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. ABS DV KJ

You Searched For "yes bank scam" and got 8 results

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Yes Bank scam escalates as CBI carries out searches to connect Rana Kapoor to DHFL promoter Kapil Wadhawan

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This is the banking crisis that doesn't end

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Yes Bank scam: CBI carries out searches at 7 locations in Mumbai; LOC issued

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Yes Bank scam: CBI searches 7 locations in Mumbai; Rana Kapoor's family named as accused

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