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As economic offences get more penetrative and sophisticated, financial institutions across the world face increased threats. One of the methods opted for such offences is the exploitation of money mules. This touches financial institutions, businesses, and governments globally, raises questions from the regulatory side, and brings instability to the financial system. NCRP reported that around […]
India’s flourishing economy hinges on the success of its ~40 million Micro, Small, and Medium Enterprises (MSMEs), which contribute nearly 30% to the country’s GDP and about 45% to its exports. However, a few persistent roadblocks, including access to timely credit, continue to hinder MSMEs’ potential growth and scalability. For lenders, evaluating the creditworthiness of […]
The rising incidence of corporate scams has the potential to destabilise Indian businesses and the economy, especially given the high-profile cases, such as the Satyam Computer Services scandal, the PNB fraud, and the IL&FS crisis. For lending institutions, the risks are even higher. The Reserve Bank of India reported frauds totalling ₹30,252 crore in FY […]
The Indian digital lending industry grew at an impressive CAGR of around 132% driven by emerging and convenient digital models, government initiatives, and evolving customer behaviours. With the number of smartphone users expected to surpass 1.55 billion by the end of 2040 in India, the volume of digital lending is also tipped to witness exponential […]
As lenders scale their businesses, they are more vulnerable to exposure to activities such as money laundering. The estimated value of money laundered globally is 2 to 5% of the global GDP, or $800 billion. The real figure, however, may be higher. Therefore, lenders who want to protect their businesses from the consequences of money […]
Technology has taken over the financial ecosystem. Banks, non-banking financial companies (NBFCs), and other financial institutes are upgrading their existing infrastructure by deploying advanced technologies to combat suspicious financial activities, prevent crime, and ensure regulatory compliance. The Finance Ministry revealed that the Financial Intelligence Unit–India has identified an undisclosed income of around a whopping ₹11,000 […]
The total value of loans in India increased by 11.5% in December ’24 compared to the same period in the previous year. Additionally, the loan growth rate in India remained steady at around 11.8% between 2012 and 2024, highlighting the increasing demand for credit within the Indian economy. Despite these positive trends, around 30-35% of […]
According to a recent Reserve Bank of India (RBI) report, bank fraud cases increased by 27% year-on-year in FY 2024-25. Between April and September 2024, the Indian police registered 18,461 cases, amounting to INR 21,367 crore, a significant rise from the 14,480 cases. Lending money carries inherent risks, which are amplified by swindlers. Despite stringent […]
In April 2023, the Directorate of Enforcement (ED) uncovered a money laundering scheme linked to the misuse of an app-based token named HPZ. Fraudsters deceived investors with promises of high returns from cryptocurrency mining. During the investigation, ₹91.6 Crore was frozen across multiple bank and payment gateway accounts. Forensic accounting, combined with advanced tools like […]
Financial institutions are witnessing a significant shift towards secured lending products, with Loan Against Security (LAS) emerging as a preferred financing solution. This trend is evident from PolicyBazaar’s recent strategic focus on LAS as one of the key growth areas in their credit marketplace. Its potential expansion is further underscored by increasing financial literacy and […]
