Mumbai: The Enforcement Directorate (ED) is set to question Reliance Group Chairman and Managing Director Anil Ambani on Tuesday, August 5, in connection with a multi-crore money laundering and loan fraud case. The probe involves financial irregularities amounting to a staggering Rs 17,000 crore, with a specific focus on a Rs 3,000 crore loan fraud linked to Yes Bank.

Anil Ambani has already reached the ED office in Delhi for questioning. Visuals of his car reaching the investigation agency’s office have surfaced on the internet. The interrogation comes days after the agency intensified its investigation into financial dealings linked to companies associated with Ambani’s Reliance Group.

Recently, the ED had earlier issued a lookout circular against Anil Ambani on August 1, effectively restricting his international travel without prior approval from the agency. Officials confirmed that Ambani could be detained at any Indian airport if he attempts to leave the country.

ED Searches On Multiple Locations Linked To Anil Ambani

The latest development follows an extensive crackdown by the ED last week, during which over 50 locations linked to Anil Ambani, including offices and premises in Mumbai and Delhi, were raided. The operation was conducted under Section 17 of the Prevention of Money Laundering Act (PMLA). More than 25 individuals were also questioned as part of the ongoing probe.

The case reportedly centres around loans disbursed by Yes Bank to various firms under the Reliance Group between 2017 and 2019. Preliminary findings suggest that a major portion of the funds were allegedly diverted to shell companies or siphoned off to other entities within the group. Investigators are also probing potential kickbacks paid to top officials at Yes Bank during the loan disbursement process.

The ED’s probe aims to uncover whether these funds were used for legitimate business activities or laundered through a web of fake firms. The agency is also looking into possible violations of banking norms and financial misappropriation on a large scale.

Bapatla: Six migrant workers from Odisha lost their lives and eight others sustained injuries in a quarry accident at a construction site in Andhra Pradesh’s Bapatla district, an official said.

The incident prompted swift action from the state government, with a criminal case registered against the quarry management, officials said on Sunday.

Bapatla District Collector J Venkata Murali confirmed that the mishap involved labourers working at the quarry when a section of the site collapsed.

He said, “As per the instructions of Chief Minister N Chandrababu Naidu, a criminal case has been registered against the quarry management. A comprehensive investigation will be carried out in coordination with the police and relevant departments.”

Of the eight injured, one remains in critical condition and is receiving treatment at GBR Hospital in Narasaraopet.

He said, “All of them were migrant workers from the state of Odisha. The eight injured workers are undergoing treatment at GBR Hospital in Narasaraopet. Among them, one is critically injured. Each of the deceased workers’ families will receive Rs 14 lakh as compensation, which will be provided by the quarry management. The government has also assured that all medical expenses of the injured workers will be borne in full until their complete recovery.”

India lost Rs 22,842 crore to cybercriminals and fraudsters in 2024, DataLEADS, a Delhi-based media and tech company, said in its report on widespread digital financial frauds in the country. The amount stolen by digital criminals and fraudsters last year was nearly three times more than the Rs 7,465 crore in 2023 and almost 10 times more than the Rs 2,306 in 2022, DataLEADS said in ‘Contours of Cybercrime: Persistent and Emerging Risk of Online Financial Frauds and Deepfakes in India.

Prediction For Cyber-Crime Frauds

The Indian Cybercrime Coordination Centre, I4C, a federal agency that liaises between state and central law enforcement, predicts Indians will lose over Rs 1.2 lakh crore this year. The number of cybercrime complaints has spiked similarly; nearly twenty lakh were reported in 2024, up from around 15.6 lakh the year before and ten times more than were logged in 2019.

The surge in the number of cybercrime complaints and the volume of money lost points to one inescapable conclusion – India’s digital crooks are getting smarter and more efficient, and, in a country with a staggering nearly 290 lakh unemployed people, their ranks are increasing.

Bank-related frauds have increased dramatically; the Reserve Bank of India reported a nearly eightfold jump in the first half of FY 2025/26 compared to the same period last year. And the amount of money lost was staggering – Rs 2,623 crore to Rs 21,367 crore. Private sector banks accounted for nearly 60 per cent of all such incidents. But it was customers in public sector banks who were worst-hit; they lost Rs 25,667 crore in all.

Why have these numbers jumped so much over the past three years?

Because of the increased use of digital payment modes – i.e., smartphone-enabled services like Paytm and PhonePe – and the sharing and processing of financial details online – via (what many believe are encrypted and fail-safe) messaging platforms like WhatsApp and Telegram.

Federal data says there were over 190 lakh UPI, or unified payment interface, transactions in June 2025 alone, and these were worth a combined Rs 24.03 lakh crore. Digital payments’ value has grown from roughly Rs 162 crore in 2013 to Rs 18,120.82 crore in January 2025, and India accounts for nearly half of all such payments worldwide.

COVID-19

Much of this increase can be attributed to the pandemic and the subsequent lockdowns.

During COVID-19, the government pushed for a switch to UPI apps like Paytm to ensure social distancing and minimise contact with currency notes, via which the virus could be transmitted.

Digital Payment Tools In Rural Areas

The government also reasoned that digital payment tools would ensure greater penetration of financial services, particularly in rural areas. By 2019, India already had 440 million smartphone users and data rates were among the cheapest in the world – 1 GB cost Rs 200, or less than $3.

Insurance sector scams were also common. These included life, health, vehicle, and general, and are becoming an increasingly lucrative option for cybercriminals, particularly as insurance companies urge customers to opt for app-based services.