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International gang involved in money theft from ATMs, says FIA

RAWALPINDI: Federal Investigation Agency (FIA) on Friday said an international gang was involved in money theft from Automated Teller Machines (ATMs). “The gang behind money theft from ATMs is not a local one, but it is a big network of international gang,” said FIA Cybercrime Director Shakeel Durrani while talking to media. Read More: How dark net is buying and selling Pakistanis’ ATM card data He said a member of the gang, Saqibullah, a resident of Rawalpindi, was arrested from Dhok Tonsa who conceded having direct…

India eases cash rules for weddings

NEW DELHI: India announced new measures Thursday to allow farmers and marrying couples to withdraw more money from banks, as frustration mounted over a cash crisis triggered by the withdrawal of all high-value notes. The shock move last week, which saw 85 percent of the cash in circulation suddenly withdrawn, has led to huge queues forming outside banks as people rush to exchange old notes for new, and has thrown plans into disarray as the wedding season gets under way in the country of 1.2 billion people. The…

India’s shock bank note ban sparks cash chaos

MUMBAI/NEW DELHI: Indians struggled to pay for basics goods like food and fuel on Wednesday and fretted about their savings, after the government withdrew 500 and 1,000 rupee notes from circulation in a bid to flush out money hidden from the tax man. The shock measure also sent shudders through the investment community on a day when the markets were also reeling at the election of Republican candidate Donald Trump as the next U.S. president. India's National Stock Exchange share index slumped as much as 6.3 percent in…