Radiant Cash subsidiary reports ₹3.13 Cr fraud by ex-employee

Radiant Cash Management Services Ltd.'s subsidiary, Aceware Fintech Services Private Limited (RadiantAcemoney), identified unauthorized and fraudulent activities totaling approximately ₹3.13 crore. The fraud, occurring between July 2025 and February 2026, involved a former employee colluding with external parties to misuse residual system access credentials, leading to unusual debit activity in vendor accounts for Domestic Money Transfer (DMT) transactions. A forensic audit confirmed no involvement of existing employees. RadiantAcemoney has suspended affected functionalities, initiated an internal investigation, engaged a digital forensic agency, informed statutory auditors, and filed complaints with law enforcement and cybercrime authorities. The financial impact on the consolidated company is deemed not material. The subsidiary is implementing a comprehensive program to strengthen internal controls and cybersecurity systems.