Table of Contents
What is the meaning of SFIO?
Serious Fraud Investigation Office
Introduction to Serious Fraud Investigation Office (SFIO) Serious Fraud Investigation Office (SFIO), like the name suggests, is a fraud investigation agency set up to solve serious, complex frauds under the Companies Act, 2013.
What is the work of SFIO?
The Serious Fraud Investigation Office (SFIO) is a statutory corporate fraud investigating agency in India. The SFIO is mandated to conduct Multi-disciplinary investigations of major corporate frauds.
How do I become SFIO?
How can I join in SFIO? First candidates should check the official notification released by SFIO. Candidates should check the eligibility criteria given in the official notification PDF. Candidates should apply only when they meet the eligibility criteria.
Who is SFIO director?
Director Keshav Chandra
SFIO is at present dealing with 199 cases of fraud. Serious Fraud Investigation Office Director Keshav Chandra on Thursday criticised independent directors for not being able to prevent corporate frauds.
Who are empowered to initiate prosecution against the company’s officer?
Section 212(14) states that on receipt of the investigation report, the Central Government may, after examination of the report, direct the SFIO to initiate prosecution against the company and its officers or employees.
Is Sfio a statutory body?
SFIO has been accorded statutory status under the Companies Act, 2013 and the scope of reference of an investigation into the affairs of a corporate to SFIO by Central Government is now governed under the provisions of section 212(1) of the said Act.
What is SFIO probe?
The Serious Fraud Investigation Office (SFIO) completed probes in 12 cases involving 361 companies in the last financial year. According to the minister, the data is for cases where instances of manipulation of accounts by the companies assigned to SFIO and investigations completed in the last three years.
What is the punishment for online scamming?
Online Fraud, Hacking and Phishing in California The maximum fine required may range from $1,000 to $10,000. Most online fraud or cyber crimes are known as “wobblers;” they may be punished as either misdemeanors or felonies. The term of imprisonment may be served in county jail for up to three years.
How do you catch fraudsters?
How to Detect Fraud and Identity Theft
- Monitor your accounts. Check your account activity frequently for anything unusual.
- Use online alert tools and services.
- Use a credit monitoring service.
- 10 warning signs of fraud.
- Know the scams.
- Watch out for wire transfer email scams.
- Too good to be true.
- Requests for money.
On what grounds Central Government can order investigation by SFIO?
The Central Government may be empowered to appoint inspectors to investigate either on its own if it is of the opinion that such investigation is required in public interest, or on the request of the company on the basis of a special resolution, or on the direction of the court/Tribunal or from such members of the …
Is SFIO a statutory body?